The Opening Bell || ASX 200 Slips At The Open; IT Pulling Up The Strings

Hi, you are watching ‘The Opening Bell’.  As inflation worries weigh on the markets, let us cast an eye over how market charter is panning out today. 

• The ASX 200 slipped at the market open, despite uptick in Wall Street overnight as market players shrugged inflation concerns.   

• The bottom performing stocks in this index are Perenti Global (ASX:PRN) and Eagers Automotive (ASX:APE). While, gold players such as Perseus Mining (ASX:PRU) and Resolute Mining (ASX:RSG) took top positions among ASX 200 gainers amid overnight gold price uptick. IT players also rose. Afterpay (ASX:APT), Appen (ASX:APX) and Zip Co (ASX:Z1P) were the top % gainers during early trade session. 

• Global equity markets surged to new highs, and bond yields softened after a jump in US inflation was viewed as not sufficient enough to make the US Federal Reserve alter its easy monetary policy stance.

•  The latest US data revealed people filing new claims for unemployment benefits dropped last week to the lowest level in nearly 15 months, adding more fuel to the rally.

• On Wall Street, the Dow Jones rose 0.05%, while the S&P 500 gained 0.47%. Then, the  NASDAQ Composite was up 0.78%, spurred by growth stocks that thrive on low-interest rates.

• Australian Energy players such as Woodside Petroleum (ASX:WPL), AGL Energy (ASX:AGL) Beach Resources (ASX:BPT), and Origin Energy (ASX:ORG) are trading in red. The energy sector is the leading drag on ASX 200 performance today. 

• Heavyweight miners BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals Group (ASX:FMG) are trading in red amid commodity price dip witnessed in the last few days. 

• Domino's Pizza Enterprises (ASX:DMP) said that it has entered into a binding agreement to acquire 100% of Domino's Taiwan for roughly AU$79 million. 

• Meanwhile, as per latest market update, tech player Iress (ASX:IRE) is trading in red despite updating on implementing measures to accelerate growth and returns.


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