ASX down 0.69% near noon: Investors await May US CPI

Market Reports

by Peter Milios

At 11:30am, the S&P/ASX 200 is 0.69 per cent lower at 7,701.90, reflecting Wall Street performance where banking stocks weighed on the Dow Jones while the Nasdaq and S&P 500 were lifted by Apple's 7.3% surge. Apple's stock price closed slightly lower after reaching a peak, contributing to its market cap of $US3.18 trillion, while investors are closely monitoring the upcoming May US CPI report and the Federal Reserve's policy decision.

The SPI futures are pointing to a fall of 47 points.

Best and worst performers

The best-performing sector is Energy, up 1.09 per cent. The worst-performing sector is Information Technology, down 1.07 per cent.

The best-performing large cap is Woodside Energy Group (ASX:WDS), trading 2.21 per cent higher at $27.69. It is followed by shares in James Hardie Industries plc (ASX:JHX) and Auckland International Airport (ASX:AIA).

The worst-performing large cap is The a2 Milk Company (ASX:A2M), trading 3.45 per cent lower at $6.855. It is followed by shares in Atlas Arteria (ASX:ALX) and Alumina (ASX:AWC).

Commodities and the dollar

Gold is trading at US$2328.90 an ounce.

Iron ore is 4.3 per cent lower at US$103.80 a tonne.

Iron ore futures are pointing to a 0.5 per cent fall.

One Australian dollar is buying 66.11 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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