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<\/a><\/p>\n ASX set to gain yet again on Wednesday despite Wall Street struggling<\/strong> \u00a0<\/p>\n Aussie shares are poised to rise yet again on Wednesday despite stocks struggling on Wall Street. At 8am AEST, the ASX200 futures contract was pointing up by +0.2%.<\/p>\n Overnight, stocks\u2019\u00a0rally lost steam toward the end of the session. The S&P 500 closed just +0.13% higher, the blue chips Dow Jones index was up by +0.08%, and the tech-heavy Nasdaq slipped by -0.10%.<\/p>\n Exercise equipment maker Peloton Interactive<\/strong> was one of the best performers last night, up +15% after a report by CNBC said some private equity companies might want to buy it.<\/p>\n Disney <\/strong> sank -9.5% after it posted a loss due to restructuring costs, and a weak outlook on subscriber growth. The good news was that Disney made a surprise profit in its direct-to-consumer entertainment division.<\/p>\n Apple <\/strong> rose +0.4% after unveiling a new iPad\u00a0Pro<\/em> with the world\u2019s most advanced display, M4\u00a0chip, and a new Apple\u00a0Pencil\u00a0Pro.<\/p>\n Newly listed Reddit<\/strong> gained +12% after hours as the social media company said revenue went up by 48% to $243 million for the last quarter, topping analysts\u2019 predictions of around $211.9 million.<\/p>\n The US has canceled licences that let Huawei<\/strong> buy computer chips from Qualcomm and Intel<\/strong>, tightening the rules on what the Chinese company can import from the US. Both Qualcomm and Intel shares fell by -1%.<\/p>\n Meanwhile, Fed Bank of Minneapolis President, Neel Kashkari<\/strong>, said last night that it was probably going to be a while before the central bank changes interest rates.<\/p>\n \u201cThe most likely scenario is we sit here for an extended period of time,\u201d he said at the Milken Institute Global Conference<\/em>.<\/p>\n His comments somewhat differ to the views of the analysts at Morgan Stanley, who have just adjusted their prediction for when the Fed will make its first rate cut. Instead of thinking it\u2019ll happen in July, they now reckon it\u2019ll be in September.<\/p>\n \u00a0<\/p>\n Back home, RBA Governor Michelle Bullock<\/strong> told a press conference yesterday that officials had actually considered raising rates at the board\u2019s May meeting, but decided to hold off for now.<\/p>\n Her comments came as RBA officials concluded their two-day meeting, which culminated in the central bank\u2019s decision to hold interest rates right where they are at 4.35%.<\/p>\n \u201cOn balance, the board felt that at the moment rates staying where they are was appropriate,\u201d Bullock said.<\/p>\n \u201cGetting inflation back to target will take time and I think the path will likely continue to be bumpy, we should all be prepared for that,\u201d she added.<\/p>\n Predictions released by the RBA suggest the central bank expects inflation to go up, not down, mainly because gas prices are bouncing back and a strong jobs market.<\/p>\n \u201cIf we really think that inflation is going to be persistent and significantly above our forecast, we will tighten again,\u201d Bullock said.<\/p>\n \u00a0<\/p>\n Gold price<\/strong> fell by -0.45% to US$2,315.61 an ounce.<\/p>\n Oil prices <\/strong> fell by around -0.2%, with Brent crude now trading at US$83.15 a barrel.<\/p>\n Iron ore<\/strong> fell 0.8% to $US118.70 a tonne.<\/p>\n The benchmark 10-year US Treasury yield<\/strong> was down 3 basis points (bond prices higher) to 4.46%.<\/p>\n The Aussie dollar<\/strong> retreated by -0.43% to US65.87 cents.<\/p>\n Bitcoin<\/strong> meanwhile was down around -1% in the last 24 hours to US$63,060.<\/p>\n \u00a0<\/p>\n Viridis Mining and Minerals (ASX:VMM)<\/a><\/strong> Black Cat Syndicate (ASX:BC8)<\/a><\/strong> Polynovo (ASX:PNV)<\/a><\/strong> Iceni Gold (ASX:ICL)<\/a><\/strong> Elsight (ASX:ELS)<\/a><\/strong> \u00a0<\/p>\n At Stockhead we tell it like it is. While Viridis Mining and Minerals is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post Market Highlights: ASX to open higher again, a warning from RBA, and 5 small caps to watch today<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\nReddit gained 12pc, Walt Disney sank -9.5pc <\/strong>
\nRBA Governor Michell Bullock gave this warning to the market<\/strong><\/p>\nWarning from Bullock<\/h2>\n
In other markets \u2026<\/h2>\n
5 ASX small caps to watch today<\/h2>\n
\nNumerous discoveries have been made across eight new concessions previously unexplored at Colossus through scout auger drilling, establishing numerous new prospects for follow-up deeper drilling. Maiden auger drilling at the recently acquired Cupim South Extension has also returned good grades.<\/p>\n
\nBlack Cat released its Paulsens Gold Operation May 2024 Restart Study report. The May Study (@ $3,500\/oz) returns are substantially greater than those in the November 2023 Study (@ $2,900\/oz). Results include: Operating Cashflow after all capital and before tax increased by 81% to ~$201m; and a reduction in plant refurbishment risk, timing and cost ($18.3m, down from $19.5m).<\/p>\n
\nThe company announced record monthly revenue of $10.1m (unaudited) for April, up circa 68.6% on the pcp. This was the first $10m+ revenue month for the firm. PolyNovo is a medical device company focused o wound care that develops and manufactures dermal regeneration solutions.<\/p>\n
\nIceni provided an exploration update on the recent work conducted on the 14 Mile Well Gold Project. Additional fieldwork at the Christmas Gift prospect in the Everleigh Well area has exposed multiple gold bearing quartz veinlets within a narrow, sheared basalt-interflow sediment contact. The structure has now been exposed over an approximately 20m strike length that is open and has advanced the geological model to provide a priority drill target.<\/p>\n
\nElsight says that during a strategic collaboration exercise, Elsight\u2019s Halo connectivity platform was rapidly integrated with Lockheed Martin Indago 4 UAS to complete BVLOS (beyond visual line-of-sight) flights with enhanced capabilities and expanded operational reach. Following this successful integration, Lockheed Martin is now able to offer this configuration, Indago 4 with Halo, as a solution to their customers, effective immediately.<\/p>\n