ADVANCED SHARE REGISTRY Wall St closed mixed after the meltdown yesterday with the Nasdaq closing in the black. Technology stocks were in favour after they rode the coattails of Uber as they provided a bullish earnings outlook. Investors bought into the dip as they await an update from the Fed, while the over reaction on contagion concerns from China's property giant Evergrande eased. Multi-dwelling homes heats up in August, single family homes drops again. The housing market was in focus as demand continues to weigh on homebuilders. According to the Commerce Department, Homebuilding rose more than expected in August. Housing starts jumped 3.9 per cent with a seasonally adjusted 1.6 million units. This was lastly driven by a rise in multi-dwellings.
Single family homes, which is the biggest share of the housing market fell for the second month at 2.8 per cent. Builders are struggling with issues with labour and land shortages to higher material costs. Demand is on the move in the low rate environment as investors get into the property market before the likely rate hike in the coming future.Fed starts meeting, focus on removing officials as trading on the job. Elsewhere the Fed have started their two-day policy meeting but their focus is on two of their members. Two advocacy groups are calling for Dallas Fed leader Robert Kaplan and Boston Fed President Eric Rosengren to be sacked over their trading activity while on the job. Fed Chair Jerome Powell will address the trading guidelines for Fed members over these concerns. However, if tension mounts on scrutinizing their trading behaviour after their conduct review, the FOMC may lose two of their members. Markets are expecting Fed to start tapering in November
European markets bounced back tracking similarly to Wall St. Paris gained 1.5 per cent, Frankfurt added 1.4 per cent and London's FTSE closed 1.1 per cent higher. In U.K. trade, oil players BP rose 1.7 per cent while Shell jumped 3.3 per cent. Mining giants were mixed. Rio Tinto shed 0.1 per cent while BHP rose 0.4 per cent.
Yesterday, the Australian sharemarket closed 0.4 per cent higher at 7,274 after starting the week in the red. The day started on a grim note and firmed up defying the wobbly price in iron ore and contagion concerns in China. For some, it was payday with BHP (ASX:BHP), Santos (ASX:STO) and Oil Search (ASX:OSH) pencilled in to reward shareholders. BHP was set to pay out a whopping amount of over $8 billion. Taking a look at the sectors, gains were almost across the board with financials as the outlier. Energy rose the most at 1.5 per cent followed by technology at 1.2 per cent then consumer discretionary.
Today we have the Reserve Bank Assistant Governor, Michele Bullock slated to deliver an online speech on Bloomberg's Inside Track.
| Dow Jones | 33,919.84 | -50.63 | -0.15% |
|---|---|---|---|
| US S&P500 | 4,354.19 | -3.54 | -0.08% |
| US Nasdaq | 14,746.39 | +32.49 | +0.22% |
| UK FTSE 100 | 6,980.98 | +77.07 | +1.12% |
RECENT INDIAN OCEAN SECURITIES TRANSACTIONS
| Balkan Mining Minerals Limited (ASX:BMM) | Mining Exploration Sector | IPO at $0.20 | Price Change from IPO Investment: + $0.175 / 85.50% |
|---|---|---|---|
| Smart Auto Australia Limited (NSX:SAL) | Electric Commercial Vehicles Sector | IPO at $0.10 | Price Change from IPO Investment: + $0.10 / 100% |
| Azure Health Technology Limited (NSX:VTL) | Health Technology | IPO at $0.20 | Price Change from latest Investment entry: - 0.05 / 25% |
| Albion Resources Limited (ASX:ALB) | Diversified Metals & Mining | IPO at $0.20 | Price Change from latest Investment entry: - $0.015 / 7.5% |
| Sprintex Limited (ASX:SIX) | Auto Parts & Equipment | IPO at $0.086 | Price Change from latest Investment entry: - $0.013 / 15.12% |
| Jadar Resources Limited (ASX:JDR) | Diversified Metals & Mining | Private Placement at $0.03 | Price Change from latest Investment entry : - $0.007 / 23.33% |
| Krakatoa Resources Limited (ASX:KTA/KTAOC) | Gold Sector | Private Placement at $0.06 | Price Change from latest Investment entry : - $0.008 / 13.33% |
| PYX Resources Limited (NSX:PYX) | Diversified Metals & Mining | IPO at $0.40 | Price Change from latest Investment entry: + $0.76 / 190% |
| Cokal Limited (ASX:CKA) | Steel Sector | Funding at $0.04 | Price Change from latest Investment entry: + $0.036 / 90% |
| Cyclone Metals Limited (ASX:CLE) | Steel Sector | Placement: at $0.0017 | Price Change from latest Investment entry: + $0.0073 / 429.41% |
| Food Revolution Limited (ASX:FOD) | Packaged Foods & Meat | Placement at $0.035 | Price Change from latest Investment entry : - $0.0007 / 20% |
| Synertec Corporation Limited (ASX:SOP) | Technology Sector | Placement at $0.023 | Price Change from latest Investment entry: + $0.077 / 334.78% |
| Douugh Limited (ASX:DOU) | Wireless Telecommunications Services | Placement at $0.020 | Price Change from latest Investment entry: + $0.074 / 370% |
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The information provided was based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Advanced Share registry (ABN 14 127 175 946) nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The report has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek appropriate professional advice. This report does not purport to be a complete statement or summary.
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Advanced Share Registry Limited published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 07:11:04 UTC.
