Market highlights and 5 ASX small caps to watch on Friday
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Wall Street was mixed on Thursday with tech stocks outperforming.
The Dow Jones and S&P 500 fell by 0.62% and 0.04% respectively, but tech heavy Nasdaq rose by 0.24%.
The market is closely watching a quarterly event that’s about to unfold on Friday (US time) called “triple witching”, where options tied to index benchmarks are expiring and could create noise as traders rebalance.
Meanwhile, the US jobless claims released last night showed a surprise increase for the week, despite an ongoing pandemic recovery.
In currencies, the Aussie dollar dropped 0.8 per cent to trade near US75.5¢, which is near its lowest level this year.
In cryptocurrency market, Bitcoin has dropped to the US$37,800 level at 8am AEST, compared to the US$38,800 level on Thursday.
Billionaire investor Mark Cuban was reported to have lost money trading in Titan, a token that had crashed from $60 to $0 in just one day.
The crypto apparently plunged to zero as whale accounts dumped the tokens in panic selling.
I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL enough. Than Bam.
— Mark Cuban (@mcuban) June 16, 2021
The ASX 200 plummeted into the red on Thursday, despite positive jobs data out of the ABS, which showed unemployment falling for the seventh straight month to 5.1% while 115,000 jobs were added.
The index fell by 0.37 per cent, with tech stocks rising 1.26%, followed by financials, which gained 0.78%.
In big cap news this morning, Telstra (ASX:TLS) will complete its delisting from the main board of the New Zealand Exchange (NZX) at the close of business today.
OneView Healthcare (ASX:ONE)
The medtech company has signed Melbourne-based Northern Health as its first Cloud Start customer in Australia. Oneview’s Cloud Start product will be deployed to the recently completed $162.3 million Stage 2 Inpatient Unit Expansion Project at Northern Health, which became operational in May.
Bubs Australia (ASX:BUB)
The infant milk formula company has launched its Aussie Bubs brand on Walmart.com, the online e-commerce platform of the world’s largest retailer. It will be available for purchase from September.
The mining tech services company said that it has broken through $40m in software subscriptions concluded this financial year, having now sold $40.4m year to date, an increase of $9m from the $31.4m reported in early May.
The logistics tech company has received an expansion order from its existing enterprise customer operating in the Philippines, moving from first mile to first and last mile. The deal is for three years and is set to increase its recurring revenues.
Ocean Grown Abalone (ASX:OGA)
The company has commenced the process of Marine Stewardship Council (MSC) certification which will support marketing OGA’s WILD Two Oceans Abalone brand and validate the company’s sustainability credentials. MSC certification confirms that a fishery is well managed, and is sustaining resources and livelihoods for this and future generations.