ASX Small Cap Lunch Wrap: Who got four more years this morning?

Jerome Powell, Chair of the Federal Reserve, is set to serve another four year term.

Overnight President Joe Biden announced that Powell would be renominated for another term.

While he now has to face a hearing before the senate, it appears a fait accompli with most Republicans and Democrats in support.

Jerome Powell going back into the office with the renomination in hand like pic.twitter.com/VSgJxj8wLJ

— litquidity (@litcapital) November 22, 2021

In renominating Powell, Biden said the Federal Reserve needed stability and independence at a time of great uncertainty as well as to address and mitigate the risk that climate change poses to the financial system.

Biden did not confirm that the money printer does indeed go brrrrr. But we’ve still taken the liberty to throw in this gif accompanying Powell’s renomination:

In March 2020, US interest rates were reduced to zero and have stayed there ever since.

The Federal Reserve has also provided emergency stimulus but there are signs it may begin to be pared back next year – particularly inflation levels not seen in three decades.

His reappointment initially sent US markets higher before the major indexes lost ground into the close.

Local stocks have posted a small rebound from yesterday’s fall , with the ASX 200 up 0.63% as at 11.30am (AEDT).

While energy rebounded from yesterday, gaining 2.56%, tech fell again by 3.29%.

Other positive sectors were materials, financials and utilities which all gained over 1%.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 23 [intraday]:

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Code	Name	Price	% Change	Volume
IDZ	Indoor Skydive Aust	0.081	35	23244806
BRU	Buru Energy	0.175	25	8228415
CCE	Carnegie Cln Energy	0.0025	25	1800916
AKO	Akora Resources	0.275	22	242264
4DX	4Dmedical Limited	1.425	19	574573
IBG	Ironbark Zinc Ltd	0.045	18	6158816
KNB	Koonenberrygold	0.17	17	18814
CV1	Cv Check Ltd	0.15	15	253342
PGY	Pilot Energy Ltd	0.079	14	13015741
KNM	Kneomedia Limited	0.016	14	56987
BCT	Bluechiip Limited	0.057	14	1535641
MNS	Magnis Energy Tech	0.575	14	31885572
GL1	Globallith	0.68	13	1445868
TPD	Talon Energy Ltd	0.009	13	7862392
XST	Xstate Resources	0.0045	13	3246212
LEL	Lithenergy	1.095	12	491879
RTH	Ras Tech	1.68	12	1822430
IPT	Impact Minerals	0.0145	12	613667
CF1	Complii Fintech Ltd	0.07	11	1796309
RIM	Rimfire Pacific	0.01	11	355555
KLR	Kaili Resources Ltd	0.031	11	62000
ICI	Icandy Interactive	0.16	10	5838255
SPN	Sparc Tech Ltd	1.5	10	261368

Debuting today was racing industry solutions provider Ras Technology (ASX:RTH) which gained 13% on its ASX listing.

Buru Energy (ASX:BRU), a WA focused gas explorer, rose after an operational update.

Ironbark Zinc (ASX:IBG), an explorer with a zinc project in Greenland, revealed its project qualified for privileged 402(A) support status under the USA’s recently introduced China and Transformational Export Program. The company says this is the first funding application of any kind to receive standalone designation.

And 4D Medical (ASX:4DX) told shareholders its XV lung monitoring software would be rolled out commercially with I-MED, Australia’s largest diagnostic imaging provider.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 23 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Name	Price	% Change	Volume
AIV	Activex Limited	0.087	-42	1116303
VIC	Victory Mines Ltd	0.001	-33	992525
CR1	Constellation Res	0.25	-32	572244
SAN	Sagalio Energy Ltd	0.014	-22	2
IQ3	Iq3Corp Limited	0.1	-20	20800
DLT	Delta Drone Intl Ltd	0.017	-19	1191496
VAR	Variscan Mines Ltd	0.048	-16	2803846
AMS	Atomos	1.11	-14	3372357
BTR	Brightstar Resources	0.055	-13	1358047
CAV	Carnavale Resources	0.007	-13	963571
LCT	Living Cell Tech.	0.007	-13	1500000
RNX	Renegade Exploration	0.007	-13	1000000
ERW	Errawarra Resources	0.285	-12	692107
RVR	Red River Resources	0.19	-12	2038952
BOA	Boadicea Resources	0.195	-11	256000
GLV	Global Oil & Gas	0.024	-11	17410644
CLE	Cyclone Metals	0.004	-11	154275
DEV	Devex Resources Ltd	0.605	-11	1954120
CAE	Cannindah Resources	0.21	-11	759747
NZS	New Zealand Coastal	0.009	-10	5625787
BNR	Bulletin Res Ltd	0.086	-9	449863
TTM	Titan Minerals	0.1	-9	51977

Constellation Resources (ASX:CR1) fell after an exploration update.

Video equipment specialist Atomos (ASX:AMS) fell after a financial update despite confirming its FY22 guidance forecast albeit based on the assumption supply chain issues would improve.