ASX up 0.24% near noon following late rebound on Wall Street

By Peter Milios | More Articles by Peter Milios

Australian shares opened higher, following a late rebound on Wall Street and a decrease in US Treasury yields ahead of the release of key US inflation data. At 11:30am, the S&P/ASX 200 is 0.24 per cent higher at 7,843.50, with anticipation surrounding the forthcoming CPI data influencing market sentiment and expectations regarding potential interest rate adjustments by the US Federal Reserve.

The SPI futures are pointing to a rise of 27 points.

Best and worst performers

The best-performing sector is Health Care [XHJ], up 1.13 per cent. The worst-performing sector is Information Technology [XIJ], down 0.79 per cent.

The best-performing large cap is Whitehaven Coal (ASX:WHC), trading 3.94 per cent higher at $7.65. It is followed by shares in ResMed (ASX:RMD) and Seven Group Holdings (ASX:SVW).

The worst-performing large cap is QBE Insurance Group (ASX:QBE), trading 1.68 per cent lower at $17.59. It is followed by shares in WiseTech Global (ASX:WTC) and Ampol (ASX:ALD).

Commodities and the dollar

Gold is trading at US$2365.60 an ounce.

Iron ore is 3.0 per cent higher at US$107.55 a tonne.

Iron ore futures are pointing to a 1.80 per cent rise.

One Australian dollar is buying 66.24 US cents.

About 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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