US stocks rebound in a volatile week

All three US stock markets indexes bounced back overnight after an Omicron triggered selloff the previous two days.

The S&P 500 was up by 1.42%, the Dow Jones by 1.82% and tech heavy Nasdaq by 0.83%.

US investors bought the dip in a week marked by wild swings in asset prices.

The Boeing stock price rose 7.5% after a report claimed the aviation authority in China may soon let Boeing’s 737 planes fly again in the country. The 737 has been banned in many jurisdictions following two crashes in 2018 and 2019.

Over in Europe, major stock markets dropped as the new COVID-19 variant spreads to more countries, and prompted some EU governments to consider mandatory jabs.

In other markets, OPEC decided to maintain current output levels with steady modest monthly increases. For January, Opec+ ministers agreed to lift output by 400,000 barrels per day. Oil prices are up around 1% on the news.

Bitcoin is trading steady at US$56,900 at 8am AEDT from the same level yesterday.

Meanwhile if you see any Indian-based cryptos looking a bit healthier, then it might be something to do with fresh rumours circulating today about India’s stance on crypto.

Read more about that story here on Stockhead.

ASX 200 to open higher on Friday

The ASX 200 looks set to rise at the open this morning, with futures markets (December contracts) pointing up by 0.72% at 8:30am AEDT.

Yesterday, the local index bucked Wall Street’s lead and closed by just 0.15% lower, with the highlight being ASX debutant Close the Loop (ASX:CLG).

CLG provides resource collection, recycling, and sustainable packaging solutions, and listed at 20 cents per share but closed the day at 31 cents – a 55% premium.

Another IPO set to list today is Orange Minerals NL (ASX:OMX), a gold-copper explorer that raised $7m at 20c a share.

And this morning, the 2021 Sohn Hearts & Minds Conference has kicked off, bringing together Australia’s leading investors and thought leaders for charity purposes.

5 ASX small caps to watch today

Biome Australia (ASX:BIO)
The recently listed company reported a year-to-date revenue for FY22 of $1.57m, which is a 100% increase on the previous corresponding period (pcp). The strong sales growth has been driven primarily by Biome’s Activated Probiotics, live biotherapeutics (probiotics).

Fonterra (ASX:FSF)
The dairy company has lifted its forecast of its Farmgate Milk Price range, and revised earnings guidance at its first quarter update. The company has lifted the price range to NZD $8.40 – $9.00 per kgMS, up from NZD $7.90 – $8.90 per kgMS. The higher milk price sees the company revise its earnings guidance to 25-35 cents per share, up from 25-40 cents per share.

iCetana (ASX:ICE)
The company has signed a non-binding MoU with Threat Protect (ASX:TPS) to collaborate on developing enhancements to iCetana’s motion intelligence software, specifically for active monitoring solutions.

Dotz Nano (ASX:DTZ)
Dotz has entered into a distribution agreement for its Dotz Test Kits with Malaysia’s ScienceVision, with a minimum first-year purchase orders of US$600k. The test kits comprise Dotz’ nasopharyngeal swab and saliva-based SARS-CoV-2 virus detection technology.

Kula Gold (ASX:KGD)
The company says RC drilling at the Boomerang Kaolin Prospect in WA is progressing well. 25 new RC holes (1,316m) have been drilled to date, with logging showing an average vertical thickness of 30m of white kaolin clays intersected from around 6.5m subsurface depth.