The ASX is down 0.5% at the open after the the Dow Jones fell 0.7% overnight to finish the trading day lower by 316 points to close at 44,694 points with traders assessing whether or not the world largest stock market is entering correction territory.
Markets are also analysing the impact of a raft of trade deals currently being agreed to between the United States and its trading partners, most notably Japan.
On the ASX, Newmont (ASX:NEM) is the best performing large cap stock on the ASX, up 3.93%, followed by Boss Energy (ASX:BOE) where the company announced the promotion of COO, Matt Dusci to the role of CEO following current head, Duncan Craib’s decision to step down from the role and join the board as a non-executive director.
Commdoties are broadly down with the gold price lower by 0.5% according to the World Gold Council and silver moderating by 0.2% as traders look to close out position by the end of the week.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market.
The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Images: ASX & Mining.com.au
