A 5 per cent increase on the S&P 500 suggests the Australian benchmark has a little room to play catch-up. The index underperformed Wall Street last month when adding around 3.5 per cent. It would not surprise to see the S&P/ASX 200 recoup some of Friday’s 0.8 per cent end-of-month profit taking. However, the first and last sessions of the month are notoriously hard to call as institutional traders shuffle portfolios. Australian outlookįutures action suggests a flat start to the week. Spotify and other app developers have long complained about Apple’s commission fees.ĭespite Friday’s weakness, the S&P 500 put on 5 per cent during April, rising for a third straight month. An investigation found the tech giant “abused its dominant position for the distribution of music streaming apps through its App Store”. Among the larger names left to report are Pfizer and ConocoPhillips.Īpple shed 1.51 per cent after the European Commission said the company breached EU competition law. The season starts to wind down this week. “There is a sense that maybe next quarter is as good as it’s going to get, and we’re going to roll over, particularly among the Nasdaq stocks and Big Tech stocks that benefited from the pandemic,” Jack Ablin, chief investment officer at Cresset Wealth Advisors, told Reuters. Despite a strong season, the index has risen less than 2 per cent since reporting started in the middle of the month. Around 87 per cent have beaten analyst’s estimates for earnings, according to Refinitiv data. More than 300 companies on the S&P 500 have reported this season. Apple, Alphabet and Facebook also declined. The fade continued a trend towards winners from the pandemic falling away despite reporting strong earnings. Shares in the company have risen 40 per cent in 12 months. The Nasdaq Composite shed 120 points or 0.85 per cent.Īmazon faded to a loss of 0.11 per cent after being up more than 2 per cent. The Dow Jones Industrial Average gave up 186 points or 0.54 per cent. The S&P 500 fell 30 points or 0.72 per cent from Thursday’s all-time closing high. The last session of the month and heaviest week of the reporting season ended with solid falls as traders locked in gains near record levels. Iron ore, copper and crude oil retreated, pressuring the US energy and materials sectors. WA1 WA1 Resources (ASX: WA1) confirms "significant" intrusive system at West Arunta, WAĪ new month looked set for a cautious start following a flurry of profit-taking in Wall Street’s megacap tech stocks.ĪSX futures dipped seven points or 0.1 per cent after US stocks and key commodities declined on Friday.ASN Anson Resources (ASX:ASN) produces first lithium carbonate from brines from its Paradox project.GSM Golden State Mining (ASX:GSM) kicks off lithium drilling at Yule, WA.ODY Odyssey Gold (ASX:ODY) announces maiden MRE for its Tuckanarra project, WA.CCO The Calmer Co (ASX:CCO) wraps up $300k placement.POD Podium Minerals (ASX:POD) MD & CEO Sam Rodda steps away.SYA Sayona Mining (ASX:SYA) delivers first lithium concentrate shipment from NAL operation.PLS Pilbara Minerals (ASX:PLS) announces final investment decision for mid-stream demonstration plant.CDR Codrus Minerals (ASX:CDR) expands landholding at Karloning REE project, WA.BGT Bio-Gene Technology (ASX: BGT) notches another US patent.AGY Argosy Minerals (ASX:AGY) successfully pumps deep lithium brine at Rincon, Argentina.LTR Liontown Resources (ASX:LTR) eyes early revenue stream through DSO opportunity.AM7 Arcadia Minerals (ASX:AM7) taps investors for $1.5m to drill at Bitterwasser, Namibia.AKE Allkem (ASX:AKE) reports "outstanding" drilling results at James Bay project, Canada.MGV Musgrave Minerals (ASX:MGV) confirms "exceptional" gold grades at Cue project, WA.
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