Morning Wrap: ASX set to slip; Europe and TSX modestly higher
ASX 200 futures are down 27pts (-0.31%) as of 9:40 am AEDT.
In this article
ASX 200 futures are down 27pts (-0.31%) as of 9:10 am AEDT.
In a nutshell:
Global equities continued to recover, with the MSCI All Country World Index rising for a fifth straight session and trimming its November loss from nearly 4% to just 0.4%.
European and Asian markets saw modest moves, S&P 500 futures were flat due to the US holiday, and Canada's TSX notched a third consecutive record high.
Risk appetite is picking up: Bitcoin climbed back above $91,000, while gold held steady and the US dollar halted its recent slide.
Reminder: US equity markets were closed in observance of Thanksgiving overnight, and will close at 5am AEDT on Saturday.
Let's dive in.
Overnight Summary
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
 S&P 500 | 6,813 | +0.69% |
Dow Jones | 47,427 | +0.67% |
NASDAQ Comp | 23,215 | +0.82% |
Russell 2000 | 2,486 | +0.82% |
Country Indices | ||
 Canada | 31,197 | +0.05% |
 China | 3,875 | +0.29% |
 Germany | 23,768 | +0.18% |
 Hong Kong | 25,946 | +0.07% |
 India | 85,720 | +0.13% |
 Japan | 50,167 | +1.23% |
 United Kingdom | 9,694 | +0.02% |
Name | Value | % Chg |
|---|---|---|
Commodities (USD) | ||
 Gold | 4,159.38 | -0.08% |
 Copper | 4.959 | -3.17% |
 WTI Oil | 59.0926 | +0.75% |
Currency | ||
 AUD/USD | 0.6533 | +0.23% |
Cryptocurrency | ||
 Bitcoin (USD) | 91,333 | +1.49% |
 Ethereum (AUD) | 4,645 | +0.32% |
Miscellaneous | ||
US 10 Yr T-bond | 3.998 | 0.00% |
VIX | 17.21 | +0.12% |
US Sectors
Sector | % Chg |
|---|---|
| Utilities | +1.32% |
| Information Technology | +1.27% |
| Materials | +1.21% |
| Consumer Staples | +0.97% |
| Financials | +0.79% |
| Energy | +0.68% |
Sector | % Chg |
|---|---|
| Industrials | +0.58% |
| Consumer Discretionary | +0.54% |
| Real Estate | +0.50% |
| Health Care | -0.25% |
| Communication Services | -0.49% |
OVERNIGHT MARKETS
With U.S. markets closed, global trading was quiet - but several major indices still hit fresh record highs, signalling a clear return of risk appetite.
Canada’s TSX rose as much as 0.22% to 31,250 and India’s Sensex climbed as high as 0.45% to break 86,000, as global capital increasingly seeks attractive returns outside the U.S. European benchmarks also posted modest gains of 0.02%–0.18%.
A strong U.S. session tonight could confirm that global equities have fully shaken off their November correction.
STOCKS
No notable news among mega caps overnight.
NEWS TO NOTE
CNBC reports that Russian President Vladimir Putin said the draft peace framework discussed by the U.S. and Ukraine could form the basis of a future agreement to end the war. If Washington manages to broker a deal, it could have far-reaching market implications - easing pressure on oil, soft commodities and gold, while also helping to relieve global inflationary pressures.
With the UK economy already under the harsh scrutiny of global investors, it may be worth watching the blistering response delivered by opposition leader Kemi Badenoch to Chancellor of the Exchequer Rachel Reeves’ Budget - which lifts taxes on working-class households to fund increased welfare spending.
Industry ETFs
Name | Value | % Chg |
|---|---|---|
Commodities | ||
| Gold Miners | 81.55 | +4.82% |
| Silver | 48.4 | +3.71% |
| Strategic Metals | 73.53 | +2.94% |
| Copper Miners | 62.26 | +2.69% |
| Lithium & Battery Tech | 62.81 | +2.35% |
| Uranium | 44.79 | +2.00% |
| Steel | 80.93 | +1.45% |
Industrials | ||
| Global Jets | 26.26 | +2.14% |
| Construction | 95.56 | +1.24% |
| Agriculture | 26.13 | +1.08% |
| Aerospace & Defense | 203.7 | +0.64% |
Healthcare | ||
| Biotechnology | 173.66 | +0.77% |
Name | Value | % Chg |
|---|---|---|
Cryptocurrency | ||
| Bitcoin | 14.07 | +3.00% |
Renewables | ||
| CleanTech | 54.6498 | +3.64% |
| Hydrogen | 36.25 | +1.83% |
| Solar | 47.9 | +1.74% |
Technology | ||
| Semiconductor | 291.39 | +2.75% |
| Electric Vehicles | 28.985 | +1.36% |
| FinTech | 30.01 | +1.21% |
| Robotics & AI | 34.87 | +0.93% |
| Sports Betting/Gaming | 20.88 | +0.68% |
| E-commerce | 32.4987 | +0.37% |
| Video Games/eSports | 109.87 | +0.22% |
| Cybersecurity | 31.13 | -1.33% |
| Cloud Computing | 22.56 | -1.70% |
ASX TODAY
Steadfast Group: The AFR reports that COO Noelene Palmer - who was the source of a sexual-harassment complaint against the CEO - has now been made redundant.
Corporate Travel Management: The company says delays in finalising its financial statements will continue, and its mandatory trading suspension remains in place.
BROKER MOVES
Suncorp (SUN) downgraded to NEUTRAL from OVERWEIGHT at JPMorgan; target decreased to $20 from $21.20
Nick Scali (NCK) initiated BUY at Bell Potter; target set at $27
Key Events
Stocks trading ex-dividend:
28 November: Metrics Income Opportunities Trust (MOT) – $0.011; Metrics Master Income Trust (MXT) – $0.012; Metrics Real Estate Multi-Strategy Fund (MRE) – $0.008
Other ASX corporate actions today:
Listing: Black Horse Mining (28/11)
AGMs: A couple to watch among small and micro caps including PRO, AOA, JNS, WEC and CCO
Economic calendar (AEDT):
No material economic reports expected.
