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<\/a><\/p>\n ASX expected to open lower on Thursday, tracking Wall Street<\/strong> \u00a0<\/p>\n The ASX 200 is poised to extend its losses when the market opens on Thursday. At 8am AEST, the ASX200 futures contract was pointing down by -0.7%.<\/p>\n Overnight, the S&P 500 fell by -0.74%, the blue chips Dow Jones index was down -1.06%, and the tech-heavy Nasdaq retreated by -0.58%.<\/p>\n Traders are becoming more cautious as they await key inflation data from the US later this week, as well as concerns about a rise in US bond yields after a poor Treasury auction.<\/p>\n The markets are now expecting the Fed\u2019s first full rate cut to occur only in December, diminishing the market\u2019s risk appetite.<\/p>\n \u201cThe ongoing reassessment of timing of US Federal Reserve\u2019s rate cuts continued to weigh on markets,\u201d said a note from ANZ.<\/p>\n To stocks, and BHP<\/strong> has abandoned its plan to take over rival Anglo American after Anglo rejected a last-minute request for more time.<\/p>\n This decision ends BHP\u2019s six-week effort to acquire Anglo\u2019s valuable copper assets in Latin America, which are crucial for the global shift towards clean energy and electric vehicles.<\/p>\n According to UK rules, BHP cannot make another offer for at least six months unless there is a new bid for the London-listed company. BHP shares on NYSE fell by -0.23%.<\/p>\n Salesforce<\/strong> dropped by -16% in after-hours trading as the company\u2019s revenue forecast for the current quarter fell short of Wall Street\u2019s estimates.<\/p>\n Nvidia<\/strong> closed higher for the fourth day in a row \u2013 up +0.8% \u2013 and has jumped more than 20% in the past few days on the back of its blowout earnings.<\/p>\n Netflix<\/strong> was up by almost +1% after bullish calls from several Wall Street analysts who expressed strong confidence in the streaming giant\u2019s future growth. Morgan Stanley, for instance, believes the stock could rise by 30% from its current price.<\/p>\n And ConocoPhillips<\/strong> is set to purchase Marathon Oil<\/strong>, an independent oil and gas company, in a US$22.5 billion all-stock deal, marking another step in the ongoing consolidation of the US energy industry.<\/p>\n \u00a0<\/p>\n The ban on Australian beef imposed by China during the 2020 trade conflict has been officially lifted, as confirmed by Minister for Agriculture, Murray Watt.<\/em><\/p>\n Senator Watt disclosed to ABC that the government was informed last night about the immediate lifting of suspension for five major Australian beef exporters, allowing them to resume trade with China without restrictions.<\/p>\n \u201cWe had already seen a couple of other processing operations have their trade bans lifted, but now it\u2019s another five,\u201d Senator Watt said.<\/p>\n The five suspended meat processing plants, located in QLD and NSW, were responsible for approximately $1 billion in beef trade before they were barred from exporting during the 2020 trade dispute.<\/p>\n \u00a0<\/p>\n Gold price<\/strong> fell by -0.92% to US$2,338.30 an ounce.<\/p>\n Oil prices <\/strong> retreated by -1.2%, with Brent crude now trading at US$83.55 a barrel.<\/p>\n The benchmark 10-year US Treasury yield<\/strong> keeps climbing, up a further 7 basis points (bond prices lower) to 4.62%. This came following weak demand for the 2-year and 5-year US Treasury note auctions this week.<\/p>\n The Aussie dollar<\/strong> fell by -0.70% to 66.12 cents.<\/p>\n The iron ore price<\/strong> climbed by +0.7% to US$118.55 a tonne.<\/p>\n Bitcoin<\/strong> meanwhile fell by -1.2% in the last 24 hours to US$67,705, while Ethereum was down around -2% to US$3,782.50.<\/p>\n \u00a0<\/p>\n Adveritas (ASX:AV1)<\/a><\/strong> Clarity Pharmaceuticals (ASX:CU6)<\/a><\/strong> Alvo Minerals (ASX:ALV)<\/a><\/strong> Geopacific Resource (ASX:GPR)<\/a><\/strong> Northern Minerals (ASX:NTU)<\/a><\/strong> \u00a0<\/p>\n At Stockhead we tell it like it is. While Alvo Minerals is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post Market Highlights: ASX braces for dip, BHP scraps Anglo bid, and China lifts Aussie beef ban<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\nConcerns over US inflation data and bond yields dampen market sentiment<\/strong>
\nBHP abandons takeover of Anglo American; and China lifts Aussie beef ban<\/strong><\/p>\nChina lifts Aussie beef ban<\/h2>\n
In other markets \u2026<\/h2>\n
5 ASX small caps to watch today<\/h2>\n
\nAdveritas announced significant product enhancements that are expected to support its continued growth. The new IVT dashboard will show how much money clients have saved by blocking invalid traffic (IVT). Clients will see two rates: one with TrafficGuard\u2019s prevention and one without. The difference between them is the money saved on ad spend. Trafficguard is the company\u2019s digital ad fraud prevention software.<\/p>\n
\nClarity has signed a Supply Agreement with SpectronRx for Cu-64 production. This adds a new Cu-64 manufacturer to Clarity\u2019s network, addressing supply constraints and benefiting patients, especially in the US oncology market. Cu-64\u2019s longer half-life overcomes limitations of other isotopes, providing broader access to PET imaging for cancer diagnosis.<\/p>\n
\nA maiden auger drill program at the Ipora Rare Earth Elements Project, located in the Goi\u00e1s State in Brazil has now been completed. The first phase of the program included 125 auger drill holes, totaling 1,008m. These holes revealed geological profiles with many intercepts of saprolite clay, which is common in the Brazilian geological context for Ionic Clay hosted Rare Earths. Samples are being prepared for dispatch with results anticipated June\/July.<\/p>\n
\nGeopacific has reported strong results from its resource growth strategy at the Woodlark Gold Project in PNG. Over the past 18 months, the company has substantially increased its drillhole database, enhancing understanding of the high-grade component of the Woodlark system. CEO James Fox emphasised the focus on significant growth potential, with plans for an updated Project Study mid-year to reflect de-risking outcomes and improved economics.<\/p>\n
\nAdditional drill results from the Mineral Resource definition drilling program at the Wolverine Deposit are confirming wide and high-grade mineralised areas along strike and down plunge, with mineralization still open at depth. New diamond intersection assay results at Wolverine include: 49m @ 2.36% TREO, from 540m, and 30.2m @ 2.89% TREO, from 442m.<\/p>\n