Market Highlights & 5 ASX Small Caps To Watch Out For Tuesday


Wall Street retreats slightly

All three benchmarks of the US stock market were down slightly on Monday – the Dow Jones was down 0.04%, the S & P500 0.01% and the Nasdaq was 0.04%.

Tesla CEO Elon Musk threatened to sell more of his shares after tweets with Democratic Senator Bernie Sanders, who called on billionaires to pay more taxes. Musk had already sold around $ 6.9 billion of his Tesla shares last week.

Morgan Stanley released its Strategy 2022 outlook report and told investors to stay away from US stocks and bonds.

The investment bank has predicted that the S&P 500 will fall 6% at the end of 2022, saying current stock levels are too high and inflation will play a big role in asset valuations next year.

In cryptos, where Bitcoin is trading below US $ 63,800 at 8:00 a.m. AEDT, compared to US $ 64,000 yesterday.

A money-making platform founded in Australia claims it has enjoyed “explosive player growth” since launching 12 weeks ago.

Crypto Gaming United claims that over 100,000 community members have signed up for its Discord channel, making it, in a way, the most popular winning gaming guild.

Read the rest of this story here on Stockhead.

ASX 200 will open lower on Tuesday

The ASX 200 is expected to open lower this morning, with futures markets (December contracts) pointing down 0.48% at 8:30 am AEDT.

Yesterday, the local index posted steady gains at the start of the week, up 0.36%. Investor preferences have leaned towards tech / consumer stocks and gold (unusual bed mates), to the detriment of the big banks and iron ore majors.

Later today, RBA Governor Dr Philip Lowe is scheduled to deliver a speech titled “Recent Inflation Trends”, as well as the release of the RBA Board of Directors minutes of the meeting. November 2.

The Weekly Consumer Confidence Survey will also be released today, and investors will also focus on wage data that will be released tomorrow.

On the IPO front, the listing at 12:30 p.m. today is Evolution of energetic minerals (ASX: EV1), Marvel Gold’s wringing the graphite.

5 ASX small caps to watch today

Singular health (ASX: SHG)
SHG ventured out of the medical markets by forming GeoVR Pty Ltd, a 50/50 company with TerraCentric with the aim of commercializing the GeoVR technology. GeoVR enables visualization of mineral exploration and production data in a fully interactive 3D environment.

Imugene (ASX: IMU)
IMU announced a new clinical trial agreement with Merck KGaA and Pfizer Inc to evaluate the safety and efficacy of Imugene’s HER-Vaxx. As part of the deal, Imugene will sponsor the study, while Merck KGaA and Pfizer will provide avelumab, the monoclonal antibody drug to be tested with HER-Vaxx.

SECOS Group (ASX: SES)
Officeworks has selected SECOS as its supplier of certified compostable mail bags, which will be made available through the Officeworks digital online store. It will be launched under the MyEcoBag brand, which follows the recent success of providing canteen services to veterans with MyEcoPet.

SRG Global (ASX: SRG)
The company has secured seven futures contracts with Level 1 clients in various industries and geographies valued at $ 110 million. The sectors include nickel, cobalt, iron ore, alumina, oil and gas, energy and dairy.

White rock minerals (ASX: WRM)
WRM has obtained the OTC exchange of its shares in the United States, after obtaining the required approval. The company’s shares can now be traded on the OTCQX, with the major brokers covering the platform.

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