After a barnstorming stimulus-rally yesterday, ASX stocks are treading water today amid a conflicting near-term outlook.

By midday EST, both the ASX200 and Small Ords Index were trading flat after giving back some early gains.

On the COVID-19 front, three big US states — Florida, Texas and Arizona — reported their highest ever number of daily cases as various jurisdictions try to ramp up their testing capability.

Over in China, Beijing authorities have closed schools and implemented travel bans amid what city officials described as an “extremely severe” secondary outbreak.

Despite lingering risks on the health side, US stocks had another good session overnight on the back of some positive economic data as retail sales rose by a record 18 per cent in May.

And speaking earlier this morning, US Fed committee member Robert Kaplan said he hadn’t seen evidence of a spike in new COVID-19 cases which now threatened to overwhelm the healthcare system.

So for now, traders that have booked some large gains over the past three months still have some reasons to celebrate. Hopefully something like this guy:

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday June 17:

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CODE COMPANY PRICE % CHANGE MARKET CAP
LRS Latin Resources Ltd 0.006 100.00% $2.2M
T3D 333D 0.002 100.00% $1.1M
APG Austpac Resources NL 0.002 100.00% $2.8M
ALT Analytica Ltd 0.003 50.00% $5.3M
ZNC Zenith Minerals Ltd 0.12 46.34% $26.8M
ENR Encounter Resources Ltd 0.145 38.10% $40.7M
AVW Avira Energy 0.004 33.33% $3.4M
AGR Aguia Resources 0.068 30.77% $14.2M
SGC Sacgasco 0.022 29.41% $6.8M
ZGL Zicom Group 0.051 27.50% $11.1M
CAD Caeneus Minerals 0.003 25.00% $7.0M
TKL Traka Resources Ltd 0.01 25.00% $4.0M
BLX Beacon Lighting Group Ltd 1.22 22.61% $266.4M
GLL Galilee Energy Ltd 0.55 22.22% $147.9M
KTG K-Tig Ltd 0.185 19.35% $26.8M
BRB Breaker Resources NL 0.28 19.15% $64.8M
BLG BluGlass Ltd 0.039 18.18% $27.1M
BRK Brookside Energy 0.007 16.67% $7.0M
MX1 Micro X Ltd 0.14 16.67% $50.0M
BUY Bounty Oil and Gas NL 0.014 16.67% $13.4M
EN1 Engage:BDR 0.007 16.67% $7.0M
SYA Sayona Mining Ltd 0.007 16.67% $17.3M
WCN White Cliff Minerals 0.012 20.00% $5.8M

 

There was another round of resources stocks on the winner’s list, led by Zenith Minerals (ASX:ZNC), which jumped after announcing a big gold hit at its Red Mountain project in Queensland.

And WA’s red-hot Paterson Province also featured prominently, where Encounter Resources (ASX:ENR) reported promising results from a four-hole drilling program at its Lamil copper-gold project.

Elsewhere, a positive COVID-19 theme was in play as home-lighting retailer Beacon Lighting (ASX:BLX) announced a rise in sales for the June half, which it attributed to customers having more time to complete projects at home.

Advanced manufacturing company K-TIG (ASX:KTG) also found momentum after announcing it’s part of a three-company partnership to develop precision welding capabilities for possible deployment in major defence projects.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday June 17:

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CODE COMPANY PRICE % CHANGE MARKET CAP
XST Xstate Resources Ltd 0.001 -50.00% $2.9M
CAE Cannindah Resources Ltd 0.005 -37.50% $966K
XPE XPED 0.001 -33.33% $2.7M
DHR Dark Horse Resources 0.002 -33.33% $5.0M
CCE Carnegie Clean 0.001 -33.33% $11.1M
EER East Energy Resources 0.002 -33.33% $6.4M
RFN Reffind Ltd 0.001 -33.33% $1.0M
YPB YPB Group Ltd 0.002 -20.00% $3.4M
WCN White Cliff Minerals 0.009 -18.18% $4.4M
ICN Icon Energy 0.01 -16.67% $6.0M
MPH Mediland Pharm 0.1 -16.67% $31.3M
DRE Dreadnought Resources 0.005 -16.67% $9.4M
ONX Orminex 0.035 -16.67% $18.9M
WML Woomera Mining 0.01 -16.67% $2.2M
AON Apollo Minerals Ltd 0.027 -15.63% $9.1M
HNR Hannans Reward Ltd 0.006 -14.29% $11.9M
SBR Sabre Resources Ltd 0.003 -14.29% $2.6M
GID GI Dynamics 0.006 -14.29% $7.7M
CUL Cullen Resources 0.019 -13.64% $4.3M