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<\/a><\/p>\n \u00a0<\/p>\n Wall Street falls, Nvidia soars<\/strong> \u00a0<\/p>\n The ASX is poised to start flat on Tuesday, after overnight losses on Wall Street. At 8am AEDT, the ASX 200 index futures contract was pointing up by just 2 points.<\/p>\n In New York, the S&P 500 fell by -0.12%, the blue chips Dow Jones index was down by -0.25%, and tech-heavy Nasdaq tumbled by -0.41%.<\/p>\n Bitcoin<\/strong> is now trading above $US67k, changing hands at US$67,410 at this time of writing.\u00a0Bitcoin is within striking distance of its record high of around US$69,000<\/strong> reached during the 2021 spike.<\/p>\n \u201cAs we approach the halving every four years, there\u2019s a run-up. But you also have these ETFs which have recently been approved and a lot of inflows coming from that,\u201d said Ian Rodgers of Ledger.<\/p>\n BTC\u2019s rise coincides with that other store-of-value asset, the gold bullion<\/strong>, which also ripped higher by a further +1.6% overnight to US$2,116\/oz. Gold prices soared to its all-time high of $2,135.39\/oz at the end of 2023.<\/p>\n To stocks, Apple<\/strong> fell -2.5% after being fined \u20ac1.84bn by the EU for stifling competition from rival music streaming services on its platform. The news has prompted Goldman Sachs to cut the stock from its Conviction List.<\/p>\n Super Micro Computer<\/strong> popped another 19% ahead of the stock\u2019s much anticipated entry to the S&P 500 index club.<\/p>\n Tesla<\/strong> fell -7% after reporting slowing China shipments and new price cuts in the country.<\/p>\n Nvidia<\/strong> lifted by another +3.6% to a new all time record.<\/p>\n Meanwhile, retail stock Macy\u2019s<\/strong> jumped +13.5% after its pursuers, Arkhouse and Brigade, raised their buyout offer by a 33% premium to the closing price on Friday.<\/p>\n \u00a0<\/p>\n Gold prices are once again edging toward all-time highs amid expectations that rate cuts in the US would come sooner than expected.<\/p>\n Analysts are bullish on the bullion and anticipate the possibility of gold rates hitting $2,400\/oz.<\/p>\n \u201cWe remain bullish on gold and expect the prices to hit new highs of around US$2,240 if the volatility continues. We also anticipate that prices can reach US$2,400 next year if the fundamentals remain strong,\u201d Ajay Kedia of Kedia Advisory told LiveMint.<\/p>\n Gold\u2019s appeal is growing stronger in the current macro environment for various reasons.<\/p>\n Firstly, when yields offered by short-term government bonds, which is a competing safe asset for gold, decline, it will force investors to seek better alternatives.<\/p>\n Second, gold ultimately serves as a hedge against economic risks, and is de-correlated with bonds and stocks \u2013 giving investors that diversification.<\/p>\n Hedge fund investor Paul Tudor Jones<\/strong> recommended that gold (as well as Bitcoin) should \u201cprobably constitute a larger portion of your portfolio than in the past.\u201d<\/p>\n The legendary trader has said on record that he always maintains a 5% allocation to BTC in his portfolio, and sees both gold and BTC as safe havens during these uncertain times.<\/p>\n \u00a0<\/p>\n Gold price<\/strong> rose by +1.6% to US$2,115.15 an ounce.<\/p>\n Oil prices<\/strong> fell by around -1%, with Brent now trading at US$82.80 a barrel.<\/p>\n The benchmark 10-year US Treasury yield<\/strong> lifted by around 4 basis points (bond prices lower) to 4.22%.<\/p>\n Iron ore futures<\/strong>\u00a0climbed by +2% to US$115.60 a tonne.<\/p>\n The Aussie dollar<\/strong> tumbled by -0.25% to US65.08c.<\/p>\n \u00a0<\/p>\n NickelSearch (ASX:NIS)<\/a><\/strong> EROAD (ASX:ERD)<\/a><\/strong> Mach7 Technologies (ASX:M7T)<\/a><\/strong> Carnegie Clean Energy (ASX: CCE)<\/a><\/strong> Lucapa Diamond (ASX:LOM)<\/a><\/strong> <\/span><\/p>\n The post Market Highlights: Records in sight for Gold, Bitcoin; US chipmaker joins S&P500 and 5 small caps to watch<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\nBTC nears all-time highs<\/strong>
\nGold to move even further?<\/strong><\/p>\nIs gold heading to the moon?<\/h2>\n
Other markets \u2026<\/h2>\n
5 ASX small caps to watch today<\/h2>\n
\nNIS says 14 lithium drill targets have been identified across the broader Carlingup Project. The new targets are based on new soil sampling results and re-assaying of historical \u2028drilling pulps from the Nindilbillup nickel laterite deposit. Low cost on-ground exploration is now scheduled to commence for new tenements acquired during late 2023.<\/p>\n
\nERD announced the appointment of dual CEOs effective today. David Kenneson will work alongside Mark Heine as dual-CEO, as part of the next phase of the company\u2019s global growth strategy. ERD says this move is a a key enabler of the EROAD strategy to grow its international markets (especially in North America) as well as strengthen its core markets here in Australasia.<\/p>\n
\nMach7 announced a 3-year renewal agreement with Penn State Health for its Enterprise Imaging Platform. Total Contract Value (TCV) is $3.1m, which includes capital software licence fee of $1.m and $2m in maintenance and support fees<\/p>\n
\nCCE provided a status update on the \u20ac3.75m ($6.25m) EuropeWave Phase 3 Contract awarded to Carnegie\u2019s subsidiary CETO Wave Energy Ireland. Following completion of contractual requirements, CETO has now signed a new Phase 3 of EuropeWave Pre-Commercial Procurement Programme. This marks completion of Project Milestone 1 and unlocks submission of the first invoice for \u20ac262,257 ($436, 890).<\/p>\n
\nLucapa and its Angolan partners Endiama and Rosas and Petalas announced the recovery of two +100 carat diamonds in February from the Lulo Mine. Both diamonds were recovered from the terraces of Mining Block 46. The 116 carat type IIa diamond will be sold via a tender at a future date, along with other high value type IIa diamonds recovered recently, while the 162 carat will be sold as part of normal run of mine sale later this month.<\/p>\n