The Dow Jones Industrial Average gained ground on Wednesday, supported by encouraging data on US inflation.
The benchmark index rose 242 points, or 0. 61 percent, to 40,008. 39.
As for the U. S. sectors, the financial sector was the best performer overnight, followed by energy and then technology. Three sectors ended in the red: communications, discretionary customers and utilities.
In corporate news, Kellanova shares rose more than 7. 8% after the company agreed to be acquired by snack maker Mars in a $36 billion deal. dollars. Alphabet, Google’s parent company, saw its shares fall 2. 3 percent following reports of a possible government antitrust lawsuit. Casual restaurant Brinker International saw its shares fall 11% after disappointing earnings and a reduced profit outlook. Victoria’s Secret jumped 16% after announcing a new CEO and strong sales that beat forecasts. Flutter rose 9% on better-than-expected revenue.
Consumer prices rose 2. 9 percent year over year in July, up from 3 percent in June and marking the lowest point since March 2021. The Bureau of Labor Statistics reported that prices rose 0. 2 percent month over year. , according to economists. ‘ expectations. Core inflation, which excludes volatile food and energy costs, also rose 0. 2% month-on-month.
The latest inflation figures follow Tuesday’s weaker-than-expected wholesale inflation data, which also supported market gains. Investors are closely monitoring economic signals to assess the prospective path of the Federal Reserve’s interest rates.
Futures market costs recommend a roughly equivalent chance of getting a quarter or part of a percentage point cut in the interest rate at the Federal Reserve’s September meeting.
In commodities, oil prices fell on Wednesday after the United States announced a larger-than-expected build of crude inventories, raising concerns about a global surplus later this year. The unforeseen buildup of inventories overshadowed signs of strong gas demand. and distillates.
Futures contracts
SPI futures point to a 0. 4 percent drop.
Motto
As of 7:25 a. m. , one Australian dollar was worth 65. 97 U. S. cents.
Raw materials
Gold 1. 12 percent. Silver fell 1. 61 percent. Copper 0. 29 percent. Oil fell 1. 75 percent.
figures the world
European markets closed higher. London’s FTSE gained 0. 56Array, Frankfurt’s gained 0. 41 and Paris’s gained 0. 79Array.
As for Asian markets, Tokyo’s Nikkei gained 0. 58 percent, Hong Kong’s Hang Seng lost 0. 35 percent, while China’s Shanghai Composite closed down 0. 60 percent. . hundred.
Yesterday, the Australian stock market closed up 0. 30 percent at 7,850. 70.
ExdividendsDicker Data Limited (ASX:DDR) will pay 11 cents fully frankedKorvest Ltd (ASX:KOV) will pay 40 cents fully frankedPlato Inc Max Ltd (ASX:PL8) will pay 0. 55 cents fully frankedPacific Smiles Grp (ASX:PSQ) will pay 7 cents fully frankedRio Tinto Limited (ASX:RIO) will pay 269. 9817 cents fully frankedReckon Limited (ASX:RKN) will pay 2. 5 cents fully frankedScentre Group (ASX: SCG) will pay 8. 6 cents without franking
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap, Marketech.
Disclaimer
Any opinions, reviews or recommendations of commentators on 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 are not worth taking into account when making a monetary decision. Commenters would likely hold positions on the stocks mentioned, and corporations would likely 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 monetary facilities licensee before making any investment decisions. To the extent permitted by law, SEQ excludes all liability for any loss or damage arising in any way, including negligence.
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Overall increases for 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 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 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 collaborate on long-term strategic partnerships with LKE. Commercial negotiations are still ongoing but should, specifically if Ford and Hanwa inject new capital into LKE, remove additional risks in the financing of the task 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 PFS planned in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and authorization activities. The effects of those systems will affect the PFS and any long-term resource updates.
The reference prices of SOPs have risen to around USD 940/t due to recent geopolitical events. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that each 10% accrued in value effects at a cumulative $144 million NPV of the $364 million allocation. The accumulation of about 70% compared to the scoping study implies a NPV allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell 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 rapidly growing diversified monetary company, founded in 2010 and indexed on the Australian Stock Exchange (ASX) in 2015. Its recommendations and product offerings are provided primarily through an advisory organization independent monetary advisors who act as legal advisors. representatives. WTL in relation to its broker organization activities Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisors in over two hundred money advice companies 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 comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). It became so inspired by IMM that Corporate Connect considered it imperative to publish a follow-up report valuing the company, as The market did not see the great prospects for eftilagimod alfa (efti).
This monitoring report was published 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 A$2. 20.