U. S. stocks were buoyed for most of the consultation after Federal Reserve Chair Jerome Powell said the next step is unlikely to be a hike, easing investor fears that the Federal Reserve was squandering stubborn inflation.
It’s a volatile day for primary averages, with the 30-stock Dow Jones bouncing more than 530 numbers to its query high, boosted by Powell’s comments.
Overall, the Dow closed up 0. 23 and the Dow Jones ended up 0. 23.
The central bank opted to keep rates steady, citing a “lack of further progress” in bringing inflation back to its 2% target. However, Powell dismissed the likelihood of a hike at a post-decision press conference.
Investors also reacted sharply when the Federal Reserve announced that it would put the brakes on one of its moves to tighten money market conditions. Starting in June, the central bank announced that it would reduce the speed at which it would allow proceeds to be withdrawn from maturing bonds. of your balance sheet reinvest. This is a procedure known as quantitative adjustment.
In corporate news, AI-related stocks retreated following disappointing reports from some of AI’s more sensible competitors. Advanced Micro Devices fell 8. 9% after releasing online earnings guidance for the current quarter, while Super Micro Computer fell 14% on soft earnings.
Oil extended its slide as U. S. crude inventories hit their highest point since June and investors awaited the Federal Reserve’s policy decision.
West Texas Intermediate fell directly to the industry below $81 a barrel for the third time, hitting the lowest intraday value since March 14, while Brent futures fell below $85.
The U. S. Senate unanimously passed a law banning imports of Russian uranium, with the aim of pressuring Russia in its confrontation with Ukraine; President Joe Biden is expected to sign it soon. In addition, the bill provides $2. 7 billion to expand the domestic uranium processing industry, with the goal of reducing dependence on Russian imports, which accounted for about 12% of the uranium destined for U. S. nuclear plants in 2022.
In terms of U. S. sectors, the most productive sector was the utilities sector, which ended the day up 1. 14 percent. The worst, consistent with the energy sector, which closed down 1. 6 percent. Futures Contracts
SPI futures point to a 0. 1 drop.
Motto
At 7:30 a. m. , one Australian dollar was worth 65. 19 U. S. cents.
Commodities
Gold fell 2. 32 percent. Silver fell 3. 64 percent. Copper fell 2. 39 percent. Oil is down 0. 85 percent.
Figures The World
London’s FTSE fell 0. 28% while Frankfurt and Paris closed.
In Asian markets, Tokyo’s Nikkei fell 0. 34% while Hong Kong’s Hang Seng and China’s Shanghai Composite closed.
The Australian stock market closed down 1. 23 at 7,569. 95.
Ex dividendsAcorn Capital Investment Fund (ASX:ACQ) to pay 2. 75 cents fully frankedBank of Queensland (ASX:BOQ) to pay 17 cents fully frankedWAM Strategic Value (ASX:WAR) to pay 2. 25 cents fully frankedWaterco Limited (ASX:WAT) is paying 7 cents fully franked
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.