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Five Things to Note at the ASX200 on Friday, June 11, 2021

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Thursday S & P / ASX 200 Index (ASX: XJO) returned to the form and set a record high. The Benchmark Index rose 0.45% to 7,302.5 points.

Can the market build on this on Friday? Here are five things to watch out for:

ASX200 is expected to have a higher edge

The Australian stock market is expected to end this week with positive but calm movements. According to the latest SPI futures, the ASX200 is expected to open a day three points higher this morning. This follows a night of strong trading on Wall Street, with the Dow Jones high edge, the S & P 500 up 0.5% and the Nasdaq up 0.8%.

US inflation data

Inflation has returned all at once in the United States. According to CNBCConsumer prices in May accelerated at the fastest pace in almost 13 years. The consumer price index rose 5% year-on-year, surpassing market expectations of 4.7%. “The more sustainable inflation category, the one that better captures sustainable trends, has been significantly curtailed,” said Eric Wingorad of AllianceBernstein. He feels that this supports “the idea that inflation spikes are temporary, even if they are more intense than most forecasters initially expected.”

Oil prices hit a two-year high

Energy producers including Santos Co., Ltd. (ASX: STO) And Woodside Petroleum Limited (ASX: WPL) It will be noticed after the price of crude oil rises. According to Bloomberg, WTI crude oil prices rose 0.3% to $ 70.16 a barrel and Brent crude oil prices rose 0.25% to $ 72.41 a barrel. Oil prices rose to their highest level in two years in response to rising demand expectations.

PointsBet evaluated as a purchase

Is PointsBet Holdings Ltd (ASX: PBH) According to Goldman Sachs analysts, the stock price is in the buy zone. In response to the news that sports betting companies are entering the Maryland market, brokers maintained their purchase rating and price target of $ 17.20. This is compared to the current PointsBet share price of $ 13.50.

Gold price rises

Gold mine worker New Crest Mining Co., Ltd. (ASX: NCM) And St. Barbara Co., Ltd. (ASX: SBM) After the gold price rises, you can end the week with a positive note. According to CNBC Spot gold price It’s up 0.3% to 1 ounce US $ 1,901.40. Precious metals have risen following the release of US inflation data.

Five Things to Note at the ASX200 on Friday, June 11, 2021

Source link Five Things to Note at the ASX200 on Friday, June 11, 2021

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