The Opening Bell || Is ASX 200 Defying Inflation Anxiety At The Market Open?

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The Opening Bell || Is ASX 200 Defying Inflation Anxiety At The Market Open?

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

• ASX 200 struggled to maintain yesterday’s gains during early trade hours, while US market participants remained sceptical amid inflation anxiety. We could even see ASX 200 soaring 0.20%, and setting a news 52-week high.

• On Tuesday, The Australian benchmark index started the week with a bang, rising 0.92% and closing at a new all-time high of 7379.5. The gains were primarily led by banking and healthcare shares.

• Oil players Beach Energy, Woodside Petroleum and Oil Search were the top gainers on ASX 200, with crude oil reaching multi-year highs. Meanwhile, OZ Minerals, Appen Limited, Whitehaven Coal and Austal were the leading losers on the board.

• The Dow Jones fell 0.27%, while the S&P 500 lost 0.2%. The NASDAQ Composite was down 0.71%. 

• The US Treasury yields remained steady ahead of the conclusion of the Fed’s two-day meeting on Wednesday.

• The benchmark iron ore futures for September month delivery on the Dalian Commodity Exchange (DCE) inched up 0.9%, to 1,226 yuan a tonne.

• Spot gold prices fell 0.51%, to approximately US$1,856 an ounce, while the US gold futures were down 0.4%, to approximately US$1,858. 

• Regenerative medicine company Avita Medical upgraded its revenue forecasts for the fourth quarter as a return to “normal activity” to between AU$9.5 million and AU$9.7 million. 

• Bitcoin traded in a range on Tuesday, currently down by 1.1%, to US$40,086. Ethereum and Dogecoin were also down by 1.8% and 2.2%, respectively. 

• Next , African-focussed oil and gas explorer and developer, FAR Limited announced that it will start drilling at the Bambo-1 exploration well in The Gambia after executing a contract with Stena Drillmax Ice to begin drilling operations in the fourth quarter of this year. 

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