Morning Wrap: ASX futures flat ahead of key GDP read this week
ASX 200 futures are up 4pts (+0.04%) as of 8:30 am AEDT.
In this article
ASX 200 futures are up 4pts (+0.04%) as of 8:30 am AEDT.
In a nutshell:
The Aussie market is set for a flat start to the new trading week
The ASX 200 lost around 3% last month
This week’s GDP release will be a key focus for investors (Wednesday)
Let's dive in.
Overnight Summary
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
 S&P 500 | 6,849 | +0.54% |
Dow Jones | 47,716 | +0.61% |
NASDAQ Comp | 23,366 | +0.65% |
Russell 2000 | 2,500 | +0.58% |
Country Indices | ||
 Canada | 31,383 | +0.60% |
 China | 3,889 | +0.34% |
 Germany | 23,837 | +0.29% |
 Hong Kong | 25,859 | -0.34% |
 India | 85,707 | -0.02% |
 Japan | 50,254 | +0.17% |
 United Kingdom | 9,721 | +0.27% |
Name | Value | % Chg |
|---|---|---|
Commodities (USD) | ||
 Gold | 4,217.81 | +1.40% |
 Copper | 5.1866 | +2.15% |
 WTI Oil | 59.44 | +1.35% |
Currency | ||
 AUD/USD | 0.655 | +0.25% |
Cryptocurrency | ||
 Bitcoin (USD) | 91,289 | +0.42% |
 Ethereum (AUD) | 4,623 | +1.09% |
Miscellaneous | ||
US 10 Yr T-bond | 4.017 | +0.48% |
VIX | 16.35 | -5.00% |
US Sectors
Sector | % Chg |
|---|---|
| Energy | +1.32% |
| Consumer Discretionary | +0.90% |
| Communication Services | +0.72% |
| Utilities | +0.72% |
| Financials | +0.71% |
| Industrials | +0.57% |
Sector | % Chg |
|---|---|
| Consumer Staples | +0.56% |
| Information Technology | +0.52% |
| Materials | +0.51% |
| Real Estate | +0.39% |
| Health Care | -0.49% |
S&P 500 SESSION CHART
S&P 500 stronger, finishing near session highs (Source: TradingView)
OVERNIGHT MARKETS
Major US benchmarks all closed higher Friday night, with the Dow up just shy of 300 points (+0.6%), whilst the S&P (+0.5%) and Nasdaq (+0.7%) also gained
Global futures markets disrupted Friday after CME Group suffers an 11-hour outage (Reuters)
Amid another year of record options volume, rising concern about concentration in clearing intermediation (Bloomberg)
STOCKS
Software glitch on Airbus A320 jets temporarily grounds hundreds of planes, though many airlines fixed with minimal disruption (Reuters)
ChatGPT's third birthday sees OpenAI grappling with rising datacenter costs, competition from Alphabet and Anthropic (FT)
Norway's sovereign wealth fund sides with Microsoft in shareholder push to have company review its human-rights vetting processes (Bloomberg)
GEOPOLITICS & TRADE
Trump says Venezuela's airspace should be considered "closed it its entirety" after warning US could expand its strikes "very soon" (NY Times)
US officials meeting Ukrainian delegation in Miami ahead of US-Russia talks in Moscow this week (Axios)
OPEC+ will stick with plans to pause production increases during the first quarter, amid growing signs of a surplus in global oil markets.
ECONOMY
Adobe estimates $11.8B in Black Friday shopping, up 9.1% y/y (Reuters) though shoppers focused on value (NY Times)
Younger people investing in the stock market but increasingly foregoing home ownership (Axios)
China's November manufacturing PMI ticks up, but remains in contraction (CNBC)
Industry ETFs
Name | Value | % Chg |
|---|---|---|
Commodities | ||
| Silver | 51.21 | +5.81% |
| Copper Miners | 64.3 | +3.28% |
| Gold Miners | 83.23 | +2.06% |
| Strategic Metals | 74.81 | +1.74% |
| Uranium | 45.28 | +1.09% |
| Lithium & Battery Tech | 63.46 | +1.03% |
| Steel | 80.86 | -0.09% |
Industrials | ||
| Agriculture | 26.42 | +1.11% |
| Aerospace & Defense | 205.1 | +0.69% |
| Construction | 95.77 | +0.22% |
| Global Jets | 26.31 | +0.19% |
Healthcare | ||
| Biotechnology | 173.83 | +0.10% |
Name | Value | % Chg |
|---|---|---|
Cryptocurrency | ||
| Bitcoin | 14.2 | +0.92% |
Renewables | ||
| Hydrogen | 37.23 | +2.70% |
| Solar | 48.91 | +2.11% |
| CleanTech | 55.24 | +0.35% |
Technology | ||
| FinTech | 30.6759 | +2.22% |
| Semiconductor | 296.74 | +1.84% |
| Sports Betting/Gaming | 21.2075 | +1.57% |
| Electric Vehicles | 29.4822 | +1.45% |
| Cybersecurity | 31.45 | +1.03% |
| Robotics & AI | 35.17 | +0.86% |
| Video Games/eSports | 110.64 | +0.59% |
| Cloud Computing | 22.67 | +0.49% |
| E-commerce | 32.522 | -0.41% |
ASX TODAY
SGH Limited is reportedly exploring acquisition opportunities, with The Australian suggesting Infrabuild may be among the potential targets.
Capricorn Metals sounded out Genesis Minerals about a possible merger, per The Australian (A$14.65), with sources saying the approach was made about four weeks ago; it’s unclear if discussions progressed.
Synlait Milk (SM1): Appointed Richard Hickson as chief operating officer, adding a senior dairy executive with more than 20 years’ international experience.
BROKER MOVES
Ausgold (AUC) initiated to BUY by Bell Potter; target set at $1.60
Beach Energy (BPT) initiated HOLD at CLSA; target $1.15
QBE Insurance Group (QBE) upgraded to BUY from HOLD by Bell Potter; target up to $21.80 from $21.20
Veem (VEE) upgraded to SPECULATIVE BUY from accumulate at Morgans; target down to $1.10 from $1.66
Key Events
Stocks trading ex-dividend:
1 December: Dyno Nobel (DNL) – $0.095; La Trobe Private Credit Fund (LF1) – $0.011; Pengana Global Private Credit Trust (PCX) – $0.013; Pengana International Equities (PIA) – $0.014; Revolution Private Credit Income Trust (REV) – $0.012; Franklin Aus Absolute Return BND Fund (FRAR) – $0.002
2 December: Desane Group (DGH) – $0.02;
3 December: Fisher & Paykel Healthcare (FPH) – $0.165
Other ASX corporate actions today:
Dividends paid: Dicker Data (DDR), N1 Holdings (N1H), QuickFee (QFE)
Listing: 1 December: Epiminder, 2 December: Black Horse Mining, 4 December: 6K Additive; Exulant Mining, 5 December: Saluda Medicalr
Earnings: Metcash (MTS)
AGMs: 5 December: Premier Investments (PMV)
Economic calendar (AEDT):
None
