U. S. stocks rallied sharply overnight, hitting all-time highs reached last month. This uptrend was boosted by the latest inflation report, which showed signs of a slowdown in price pressures.
The Dow Jones Industrial Average closed up 1. 04% at 39,765. 64. The Nasdaq Composite jumped 2. 43%, ending the day at 17,187. 61.
As for the US sectors, all sectors closed with superior energy overnight. The technology and consumer discretionary sectors were the best performers of the day, with a final increase of 3 percent and 2. 4 percent respectively.
In corporate news, Starbucks shares jumped 24. 5% after the coffee giant announced a change in its leadership, naming Chipotle’s current CEO as its new lead executive. Shares of Home Depot fell in first place after forecasting weaker-than-expected sales due to customer issues. caution, but recovered to close 1. 2 percent higher. Dell Technologies jumped five percent as Barclays upgraded the stock, leading to a recent pullback and a potential undervaluation of its AI outlook.
The manufacturer’s price index (PPI), which measures wholesale inflation, rose a modest 0. 1 percent in July. This figure coincided with economists’ expectations and suggested a possible slowdown in price increases. Investors were encouraged by the knowledge of the long-awaited Consumer Price Index (CPI) report, which will be released on Wednesday morning.
The CPI is expected to show a slight increase of 0. 2% month-on-month, a positive progression after a drop in the last month. Market participants hope that this report will provide more clarity and direction after the recent era of surge. volatility.
Market volatility has also decreased considerably. The Cboe Volatility Index (VIX) remained below 20 on Tuesday, a stark contrast to its level above 65 last week.
On the commodity front, oil fell sharply, ending a five-day rally, as considerations of a potential global oil surplus overshadowed rising tensions in the Middle East. Investors’ attention was focused on the IEA report indicating that a potential oil glut and profit-taking contributed to the decline in Array
Futures contracts
SPI futures gained 0. 7 percent.
Currency
At 7:25 a. m. m. , one Australian dollar was worth 66. 33 US cents.
Raw materials
Gold added 0. 15 percent. Silver fell 0. 79 percent. The COP fell 0. 45 percent. Oil fell 2. 14 percent.
figures the world
European markets closed higher. London’s FTSE gained 0. 30Array Frankfurt 0. 48 and Paris 0. 35Array
As for Asian markets, Tokyo’s Nikkei rose 3. 45%, Hong Kong’s Hang Seng rose 0. 36%, while China’s Shanghai Composite closed 0. 34% higher. hundred.
Yesterday, the Australian stock market closed up 0. 17 per cent at 7,826. 84.
Ex-dividendsAustralian Foundation Investment Co (ASX:AFI) will pay 14. 5 cents fully frankedFlagship Investments (ASX:FSI) will pay 5. 2 cents fully frankedResMed Inc (ASX:RMD) will pay 5. 678 cents unfranked
Dividends payableCharter Hall Long WALE REIT (ASX:CLW)
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap, Marketech.
Disclaimer
The opinions, reviews or recommendations of commentators in this presentation are solely those of the author and do not reflect the opinions, reviews and recommendations of Sequoia Financial Group Limited ABN 90 091 744 884 and its similar legal entities (“SEQ”). QES makes no representations or warranties as to the accuracy, completeness, or timeliness of the content. All published costs are accurate based on the time of filming and do not deserve to be taken into account when making a monetary decision. Commentators would possibly hold positions in the aforementioned stocks, and corporations would possibly pay FNN to produce the content. The content is for educational purposes only and does not constitute a monetary recommendation. You deserve to receive an independent recommendation from an Australian money facility licensee before making any investment decisions. To the extent permitted by law, SEQ excludes any liability for any loss or damage arising in any way, adding negligence.
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Increases across the board of Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 tested outlets, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding in the 10-day area. Ford Company (Ford) signed a memorandum of understanding for around 25,000 t/year and last week, Hanwa, a Japanese commodity trader, signed a memorandum of understanding for up to 25,000 t/yr. Subject to execution, this is a feat as Ford and Hanwa are poised to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but should, if Ford and Hanwa inject new capital into LKE, further reduce the risk of project financing and thus ensure that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
TMG is currently completing work for the planned PFS in early 2023, adding start of drilling in Q3 2022, evaporation testing and permitting activities. The effects of those systems will affect the PFS and any long-term resource upgrades.
SOP reference prices have increased to around $940/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that each 10% accrual in value effects amounted to $144 million accrued to the NPV of the $364 million allocation. The accrual of around 70% compared to the scoping study implies an NPV of the allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a diversified money company in development, founded in 2010 and indexed to the Australia Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). It was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report valuing the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This follow-up report was released today. Using comparables, after adding a monetary rebate to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.