{"id":11402,"date":"2021-12-01T22:16:25","date_gmt":"2021-12-01T22:16:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=11402"},"modified":"2021-12-01T22:16:25","modified_gmt":"2021-12-01T22:16:25","slug":"market-highlights-and-5-asx-small-caps-to-watch-on-thursday","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11402","title":{"rendered":"Market Highlights and 5 ASX Small Caps to watch on Thursday"},"content":{"rendered":"

Wall Street falls further on Omicron fears<\/p>\n

The US stock markets once again fell heavily overnight, as the US confirmed its first case of the omicron variant.<\/p>\n

Cases of omicron in South Africa have doubled in two days, with the new strain also popping up in the UK, Switzerland and Brazil.<\/p>\n

In a volatile trading day, all three US stock market indices fell \u2013 the S&p 500 by 1.18%, the Dow Jones by 1.34%, and tech heavy Nasdaq by 1.83%.<\/p>\n

New US economics data supported the case for tapering \/ rate hike, with new jobs gaining 534,000 during November.<\/p>\n

A survey released overnight also shows that confidence among CEOs of major U.S. companies jumping to an all-time high.<\/p>\n

The oil market is holding steady and trading flat ahead of the Opec + meeting on Thursday (US time), while the AUD is hovering around the US$0.71 handle.<\/p>\n

The AUD\/USD rate has depreciated significantly over the past month, from US74c to US71c.<\/p>\n

Meanwhile the spot iron price gained 2% overnight despite a report by the Chinese government publishing its 5-year plan to become self sufficient in iron ore production.<\/p>\n

Eurozone shares +2.9%
US shares -1.2%, as covid Omicron fears weighed after being up +1.9% earlier in the session
US 10 yr yld -2bp to 1.42%
Oil -2.3% to $65.2
Gold +0.5% to $1780.6
Iron ore +1.3% to $101.4
ASX futures -1.1%$A<\/a> 0.7101 with $US<\/a> index +0.1%<\/p>\n

\u2014 Shane Oliver (@ShaneOliverAMP) December 1, 2021<\/a><\/p>\n\n

To cryptos, where Bitcoin has fallen to US$56,900 at 8am AEDT, from the US$57,600 level yesterday.<\/p>\n

Metaverse and gaming tokens were among the best crypto gainers in November, rallying after Facebook announced its name change to Meta in late October.<\/p>\n

The No. 1 gainer among the top 300 coins, according to Cryptorank, was Sologenic, a platform for tokenising assets on the XRP Ledger blockchain.<\/p>\n

Read the rest of that story here on Stockhead<\/a>.<\/p>\n

ASX 200 to open much lower on Thursday<\/h2>\n

The ASX 200 looks set for a sharp fall at the open this morning, with futures markets (December contracts) pointing down by 1.10% at 8:30am AEDT.<\/p>\n

Yesterday, the local index clawed back some ground to finish 0.28% lower, following a sharp selloff in the morning session.<\/p>\n

Small cap gains yesterday were led by $31.5m data software company Tymlez Group (ASX:TYM)<\/a>, which ripped higher by more than 40% on no news.<\/p>\n

On the IPO front, set to list today is Close the Loop (ASX:CLG)<\/strong><\/span>, a battery recycling technology company that raised $12m from investors at 20c per share.<\/p>\n

And later today, economics data released include the Australia\u2019s international trade numbers, and also for retail sales for October.<\/p>\n

In large cap news this morning, Crown Resorts (ASX:CWN)<\/a><\/strong> has rejected the $12.50 takeover offer from Blackstone.<\/p>\n

Meanwhile, former RBA governor Glenn Stevens has been named as the next Chair of Macquarie Group (ASX:MQG).<\/a><\/strong><\/p>\n

5 ASX small caps to watch today<\/h2>\n

Cycliq Group (ASX:CYQ)<\/a><\/strong>
\nThe tech company for cyclists reported total sales of $2,151,000 for November, underpinned by the Black Friday sales. The US continues to be its biggest market with 29% of sales in November, while Australia makes up 19%.<\/p>\n

Immutep (ASX:IMM)<\/a><\/strong>
\nThe biotech company said the INSIGHT-003 study on LAG-3 immunotherapy treatments has commenced well. IMM is studying the triple combination of efti, carboplatin, and an anti-PD-1 therapy, and so far all patients are still participating in the study.<\/p>\n

Splitit (ASX:SPT)<\/a><\/strong>
\nThe BNPL play said it reached a record MSV (merchant sales volume) in Q4 FY21 of US$94m, which was a 52% gain QoQ and a 61% gain YoY. The company said the strong performance is attributable to the the holiday shopping period, and better than anticipated results from Japan.<\/p>\n

Li-S Energy (ASX:LIS)<\/a><\/strong>
\nLi-S Energy has signed a MoA with Insitu Pacific to integrate and test LIS\u2019 battery technology in Insitu\u2019s range of UAS (uncrewed aircraft systems). Based in Brisbane, Insitu is a wholly owned subsidiary of Boeing.<\/p>\n

Vection Tech (ASX:VR1)<\/a><\/strong>
\nVection said it has outperformed its first half milestone objective, with FY22 sales growing to $11 million: up by 120% compared to the first quarter. The company said it will accelerate its aggressive enterprise XR (expanded reality) and metaverse global acquisition strategy.<\/p>\n

The post Market Highlights and 5 ASX Small Caps to watch on Thursday<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Wall Street falls further on Omicron fears The US stock markets once again fell heavily overnight, as the US confirmed its first case of the [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11403,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nMarket Highlights and 5 ASX Small Caps to watch on Thursday - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11402\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Highlights and 5 ASX Small Caps to watch on Thursday - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Wall Street falls further on Omicron fears The US stock markets once again fell heavily overnight, as the US confirmed its first case of the [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=11402\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-01T22:16:25+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=11402#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=11402\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Market Highlights and 5 ASX Small Caps to watch on Thursday\",\"datePublished\":\"2021-12-01T22:16:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=11402\"},\"wordCount\":699,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=11402#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/LI-S-Energy-leads-5-ASX-small-caps-to-watch-today-Picture-Getty-Image.-M7O4ne.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=11402\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=11402\",\"name\":\"Market Highlights and 5 ASX Small Caps to watch on Thursday - 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