Market Highlights and 5 ASX Small Caps to watch on Friday

Wall Street mixed after previous day’s inflation-led rout

US stocks closed in mixed territory on Thursday, after a selloff on Wednesday triggered by the high-inflation data release.

The Dow Jones continued its slide, down by 0.34%, but the S&P 500 and Nasdaq were up by 0.12% and 0.56% respectively.

On Wednesday, the US CPI release showed a jump of 0.9% in October and 6.2% from a year ago, the highest rise in three decades.

Tesla fell another 0.7% overnight and is down more than 13% this week, after Elon Musk sold US$5bn worth of Tesla shares – reducing his 23% stake by 3%.

The US-listed shares of BHP rose by 5% after iron prices rallied 5% to US94.20 a tonne, while Beyond Meat tumbled 17% after a bleak Q4 outlook following Q3 losses.

Oil prices retreated by almost 4%.

Eurozone shares +0.2%
US shares +0.1%
US bond mkt closed, Ger 10 yr yld +2bp to -0.24%
Oil -3.9% to $81.2
Gold +1.6% to $1862.7
Iron ore +5.3% to $94.2
ASX futures +0.4%$A 0.729 with $US index +0.3%

— Shane Oliver (@ShaneOliverAMP) November 11, 2021

To cryptos, where Bitcoin is falling further to US$65,000 at 8am AEDT, down from US$66,700 yesterday.

An Aussie-owned micro-investment app meanwhile, plans to launch in the United States next year, and has also begun a new podcast to discuss the basics of cryptocurrencies.

Perth-based Bamboo is funding the US launch through a recent $4 million Series A funding round.

Read all about it here on Stockhead.

ASX 200 to open higher on Friday

The ASX 200 looks set to open higher this morning, with futures markets (December contracts) pointing up by 0.44% at 8:30am AEDT.

Yesterday, the local index closed in the red following a weak lead from Wall St, down by 0.57%.

There were solid gains across the resources complex, as the ASX 200 Materials index rose by more than 2% — offset by sharp falls for banking and energy stocks.

On the IPO front, listing today is Perth-based $3.3 billion disability employment services firm APM Human Services (ASX:APM).

Founded by occupational therapist Megan Wynne in 1994, the company raised $982 million in its IPO float at $3.55 a share.

Wynne owns 34.2% of the business, which the AFR Rich List says will make her Australia’s newest billionaire, valuing her and husband Bruce Bellinge’s stake at $1.4 billion.

5 ASX small caps to watch today

Resonance Health (ASX:RHT)
The company signed an agreement with WHO-affiliated Thalassaemia International Federation (TIF). TIF will deploy 500 FerriSmart vouchers, provided by Resonance at no cost, across targeted low-and-middle income countries in Asia, West Pacific, and Europe. FerriSmart is an AI-driven system for the automated real-time measurement of LIC( liver iron concentration) in patients using non-invasive MRI-based technology.

Credit Clear (ASX:CCR)
The fintech company signed a partnership deal with Techub to deploy CCR’s digital technology across selected portfolios of account receivables. Credit Clear is expected to earn commission on all payments made across identified portfolios.

Invictus Energy (ASX:IVZ)
Following the completion of the seismic survey at its Cabora Bassa Project in Zimbabwe, strong amplitude anomalies were observed in shallow sections of Muzarabani structure and basin margin fault. This provides a rich target for IVZ’s upcoming drilling program.

Calix (ASX:CXL)
Calix announced the filing of a patent covering ZESTY (Zero Emissions Steel Technology), a new application of its core technology for the production of zero CO2 emissions iron and steel.

iTech Minerals (ASX:ITM)
Rare earth potential has been confirmed at the Eyre Peninsula Kaolin Project. Results from the first batch of resampling confirmed iTech’s view of the dual potential for high purity kaolin and rare earth element (REE) mineralisation.

At Stockhead we tell it like it is. While Invectus Energy and iTech Minerals are Stockhead advertisers, they did not sponsor this article.