Well, it’s interest rate day here in Oz and property owners are wearing their brownest pants because of the potential for a rise, some say 50bps is reasonable.
In the US, the Fed insisted on keeping interest rates higher despite slowing inflation. Stronger-than-expected economic data came in the form of an unexpected rise in US service industry activity in November. Combined with last week’s strong jobs data, a rate hike is expected at his next Fed meeting on Dec. 14, and the chances of a 75bp rate hike dropped from his 21.8% to 20.6% last night. The market has fallen.
The final piece of the puzzle will be revealed in Friday’s producer price report.
The Dow Jones therefore fell by 438 points (-1.40%) and at one point fell by 583 points. The NASDAQ is down his 1.73% and the S&P 500 is down -1.79%. 95% of companies dropped in price when the definition of “Red Sea” was required.
The impact was also felt in Europe, where the STOXX 50 was -0.5% and the DAX was -0.6%, while the FTSE was up 0.2%.
It comes as no surprise that SPI futures fell 47 points (-0.64%) this morning and the ASX is expected to open lower. The RBA interest rate decision will be announced at 2:30pm, as usual.
The dollar rose 0.71% to record a four-day losing streak while the Australian dollar fell 1.43% to a low of 66.92c.
Commodities were mixed as oil prices fell more than 3% after the G7 and EU capped Russian oil at US$60 a barrel. Coal prices also fell, dropping him 0.72% overnight. Gold fell 1.75% as the US dollar strengthened and coal prices rose, while iron ore is having a good time as China eased its Zero Covid stance and rose more than 2%.
In Crypto News, Top Gun Cryptos Bitcoin (BTC) And Ethereum (ETH) While U.S. Stocks Were Down Given Correlation Between Risky Assets Is Usually Very Common and held up very well. In fact, the overall cryptocurrency market capitalization has fallen by only 1 percentage point, with play-to-earn game Axie Infinity (AXS) posting a 30% gain based on some decentralized governance news. , and OG crypto-favorite Litecoin (LTC) has gained nearly 5% of its recent momentum (+30% over the past two weeks).
5 ASX small caps to watch today
Graphite play Sarytogan reports a ‘breakthrough’ in metallurgical testing work on the graphite deposit of the same name in central Kazakhstan. A composite sample blended from samples collected from six diamond-drilled holes achieved a graphitic purity of 99.70% % total graphitic carbon. The flotation concentrate was also upgraded to 99.70% TGC through chemical refining (no alkaline roasting step). Sarytogan’s managing his director, Sean Gregory, said:
Global EV companies include Charged Asia, which owns 100% of PT Industri Charged Mobilitas, and PT Charged Tech Indonesia, an Indonesian scale-up electric motorcycle technology company focused on providing sustainable mobility options and electric vehicles. and signed a strategic technology and investment agreement. as a service. Indonesia’s motorcycle industry is the third largest in the world after India and China. Currently, there are over 120 million motorcycles in operation in Indonesia, of which it is estimated that only a small portion are electric motorcycles, and the number of electric motorcycles continues to grow.
A clinical-stage biotech company is developing a new LAG-3 immunotherapy against cancer
and autoimmune diseases, and announced a GMP-compliant manufacturing process for IMP761, a unique preclinical candidate for autoimmune diseases. The 200L scale achieved by Northway Biotech ensures the supply of IMP761 for IND-ready research and subsequent clinical trials. IMP761 is the first immunosuppressive agonist antibody against LAG-3 that acts upstream of activated T cells and targets the underlying cause of autoantigen-specific T cell-induced disease. Immutep claims it “could transform the way autoimmune diseases are treated.”
Initial analytical results from the first round of drilling at the Burracoppin project, which is 100% owned by Ragusa, identified high grade rare earth oxide (REO) mineralization and very high average Al2O3 results. Results so far show that the Bracoppin project contains an average of 33.73% of his Al2O3, a “very high quality alumina”. Furthermore, 40% of the samples returned total rare earth oxide levels (TREO) above his 500 ppm cutoff, with a mean TREO value of 1,493 ppm and a peak TREO value of 6,285 ppm.
Ragusa says these results, both for bright white kaolinite with very high alumina levels and high TREO levels for magnetic rare earth oxide (MREO) content, are “exceptional and often meet quality standards. ,” he said.
HMX has identified a lithium-bearing zone with an initial exposed strike length of approximately 200m at the Yandal project. Rock chip sampling from the newly discovered Tapenade vein returned up to 0.65% He Li2O. In addition, multiple LCT pegmatites were also identified west of Hammer’s Orelia Target 1 observatory, and associated sampling programs yielded analysis results of up to 180ppm cesium, 1,795ppm rubidium, and 164ppm niobium. .