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.