The ASX is expected to rise this morning after Wall Street’s mixed run.
The Dow Jones index rose to 33,684.79 points, but the S&P 500 and Nasdaq Composite lost ground.
Investors are awaiting tomorrow’s release of the latest US consumer inflation figures – with many predicting another hike.
Meanwhile, the International Monetary Fund (IMF) says it expects global growth to slow to 2.8 per cent amid financial sector turmoil, high inflation, and recovery from COVID-19. This is down from 3.4 per cent in 2022.
The Aussie dollar has moved up. One Aussie dollar is buying 67 US cents and 54 British pence.
A sharp rise in bitcoin prices has pushed the cryptocurrency above $30,000 US dollars for the first time since June last year.
However, it’s still priced well below its all-time high of $68,000 in November 2021.
To commodities, and brent crude oil rose to $85.53 US dollars a barrel. The spot gold price climbed above $2000 US dollars per ounce again.
The global mining industry is in the spotlight today after Newmont Corporation laid down a final offer for Australia’s Newcrest Mining worth $19 and a half billion US dollars.
It’s the biggest takeover in the world this year, and the biggest ever in the gold mining industry.
You can check out insights from Newcrest in The Market Herald’s Thematica report.
