This is a tale of two post-COVID economic (and political) policy strategies.

On one side is the Australia government’s record breaking budget cash splash to fast track economic recovery.

On the other is Trump’s decision to call off stimulus talks until after the US election.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill,” tweeted a potentially drugged up Donny.

After being up in morning trade, the three major Wall street indexes finished the day 1.3 to 1.6 per cent lower.

This could be a watershed moment for the recovering US economy, says Oxford Economics’ Gregory Daco.

Even if aid is eventually delivered in 2021, the economy would approach stall speed in Q4, putting the US in a “perilous situation” on the eve of flu and election season.

“It’s simple,” Daco says. “Less fiscal stimulus means more economic pain.”

And vice versa.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday, October 7:

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CODE NAME PRICE % CHANGE MARKET CAP
PCL Pancontinental Oil 0.0015 50 $ 5,406,715.49
JHL Jayex Healthcare 0.061 33 $ 9,262,699.10
SIS Simble Solutions 0.037 32 $ 5,650,827.06
ARR American Rare Earths 0.11 24 $ 25,891,843.69
CV1 Cv Check 0.14 22 $ 33,602,732.74
PEK Peak Resources 0.036 20 $ 42,332,029.14
WHK Whitehawk 0.15 20 $ 22,492,785.63
DCX Discovex Resources 0.006 20 $ 5,980,820.38
MEB Medibio 0.012 20 $ 13,476,625.69
XST Xstate Resources 0.003 20 $ 3,623,102.25
XTC Xantippe Resources 0.003 20 $ 10,186,411.01
KEY KEY Petroleum 0.0065 18 $ 10,823,604.69
PLL Piedmont Lithium 0.565 18 $ 554,553,698.88
GNM Great Northern Minerals 0.021 17 $ 16,247,816.03
WBT Weebit Nano 0.875 17 $ 78,832,889.25
ARO Astro Resources 0.007 17 $ 8,777,471.47
MSR Manas Resources 0.007 17 $ 15,858,974.93
HWK Hawkstone Mining 0.015 15 $ 15,858,786.78
QEM QEM 0.11 15 $ 3,816,606.91
ARE Argonaut Resources 0.008 14 $ 17,208,282.54

 

Energy ‘Saas’ firm Simble (ASX:SIS) completed a $1m oversubscribed placement to accelerate growth and expansion plans in Australia and the UK.

Online verification company CV Check (ASX:CV1) recorded a 40 per cent jump in quarter-on-quarter sales “despite pandemic related shutdowns in New Zealand and Victoria”.

Mental health medtech Medibio (ASX:MEB) inked a Clinical Trial Agreement with leading US sleep disorder group MedBridge to support Medibio’s ‘Sleep Analysis of Depressive Burden’ (SADB) trial.

Great Northern Minerals (ASX:GNM) uncovered a “significant”, +900m long gold system at the ‘Big Rush’ project in Queensland.

And Hawkstone Mining (ASX:HWK) aquired a new US gold project called ‘Devil’s Canyon’ – located within the 195 million oz Carlin Trend — where early stage sampling has returned grades up to 92.2 grams per tonne (g/t).

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday, October 7:

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CODE NAME PRICE % CHANGE MARKET CAP
PRX Prodigy Gold 0.051 -20 $ 37,160,166.78
LVE Love Group Global 0.05 -19 $ 2,513,118.48
NTL New Talisman Gold 0.005 -17 $ 16,753,352.18
BAT Battery Minerals 0.011 -15 $ 17,135,190.14
FPL Fremont Petroleum 0.003 -14 $ 13,738,127.16
CPH Creso Pharma 0.033 -13 $ 15,659,584.81
WNB Wellness and Beauty 0.007 -13 $ 10,785,442.30
EMT Emetals 0.022 -12 $ 10,005,000.00
IOU Ioupay 0.12 -11 $ 49,756,468.59
CZL Consolidated Zinc 0.004 -11 $ 11,210,602.25
TMR Tempus Resources 0.205 -11 $ 18,287,884.66
SAU Southern Gold 0.125 -11 $ 22,399,549.20
CFO Cfoam 0.025 -11 $ 5,380,872.73
HXG Hexagon Energy 0.053 -10 $ 17,253,570.42
CGB Cann Global 0.0045 -10 $ 17,832,910.67
RHY Rhythm Biosciences 0.235 -10 $ 52,388,910.86
WOA Wide Open Agriculture 0.97 -9 $ 83,229,785.22
DAV Davenport Resources 0.041 -9 $ 8,867,364.71