The Opening Bell || ASX 200 Struggles For Direction; Pulled Down By Miners

Hi,You are watching ‘The Opening Bell’.  Let us cast an eye over how market charter is panning out today. 

• The ASX 200 edged lower during early trade hours today amid sliding commodity prices, with sentiment dented by a weaker Wall Street finish overnight.

• Gold miners are leading the decline. Silver Lake Resources, Ramelius Resources, Persues Mining dropped more than 5 per cent. While, Northern Star Resources and Evolution Mining also tumbled. The iron ore majors also fell; Fortescue Metals Group, Rio Tinto and BHP all fell close to 2 per cent.

• Appen and Auckland International Airport also slid. According to the latest update, Mark Brayan, CEO and Managing Director of Appen has sold 109,430 shares.

• , On Thursday, the benchmark index was in an uptrend and closed the session 0.59 per cent higher, at the 7260 level, an all-time high closing for the index. Today, the ASX 200 may face some pressure as reverting commodity prices from the higher levels are likely to weigh on resource-heavy sectors, with sentiment dented by a weaker Wall Street closing. 

• On that note, lets explore some important updates from the US markets. The global stock markets were little changed yesterday after retracing from near-record levels earlier in the week, as market participants studied robust US data reports for economic recovery and inflation signals. 

• On Wall Street, the Dow Jones closed 0.06 per cent down, while the S&P 500 shed 0.36%. The NASDAQ Composite index lost 1%. 

• However, US stocks pared back some losses from the lower levels on Thursday after reports that President Joe Biden has offered to scrap his proposed corporate tax hike. 

• A better-than-forecast US private payrolls numbers for May drove market sentiments, while weekly unemployment data revealed strength in the labour market. On top of that, a measure of service sector activity rose to a record high, pointing to a solid economic recovery. 

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK