Market Highlights and 5 ASX Small Caps to watch on Friday

Wall Street down ahead of inflation data

US stocks finished mainly lower overnight, as investors waited cautiously for today’s CPI data.

The Dow Jones finished flat, the S&P 500 fell by 0.72%, while the tech heavy Nasdaq tumbled heavily by 1.71%.

It’s been a volatile week for the Nasdaq Composite index, seesawing between a fall of 2% and a rise of 3% in the last few days.

Major movers overnight were mainly tech stocks – Tesla down by -5%, and Atlassian also down by 3.5%.

COVID-19 infection rates in South Africa have reached as high as 30% but hospitalisation cases are muted, lending support to the belief that Omicron is less severe than previous variants.

In other markets, brent crude is down 1.3%, while the spot iron ore price fell 2.6% to $US108.53 a tonne.

Meanwhile, Bitcoin’s apparent correlation with the Nasdaq index was on display overnight, as the crypto fell to US$47,700 from the previous day’s US$50,800.

But although the price of Bitcoin (BTC) is chopping about with all the certainty of a trainee hairdresser right now, one important level has been rising in a steady fashion – the OG crypto’s hash rate.

Bitcoin’s hash rate is important because it’s generally regarded as a barometer for the health, and security, of the crypto’s network.

Read the rest of that story here on Coinhead.

ASX 200 to open lower on Friday

The ASX 200 looks set to fall at the open this morning, with futures markets (December contracts) pointing down by 0.14% at 8:30am AEDT.

There were few major catalysts yesterday, as the ASX traded flat in a relatively cruisy session following some solid gains this week.

Broadly speaking, the ASX has tracked global stock markets higher after a rocky selloff last week that followed indications the US Fed may tighten policy faster than expected.

On the IPO front, set to list today is Panther Metals (ASX:PNT), a mineral explorer that raised $5m at 20c a share.

5 ASX small caps to watch today

SenSen Networks (ASX:SNS)

The AI sensor tech company has signed a multi-year contract with Hippodrome Casino in London to have its gaming floors fitted with SenSen AI solutions. The contract will generate both upfront and recurring revenues amounting to $430k over the initial 3-year term.

Coronal Global Resources (ASX:CRN)

Operations at Curragh Mine Complex have resumed, following the recent fatal accident involving a mining employee. Resources Safety & Health Queensland Inspectors have today given the all clear and lifted all suspensions.

Aumake (ASX:AUK)
The skincare products company says it will continue to reopen additional store locations to coincide with the easing of COVID-19 restrictions. Five stores have now reopened in Sydney, which AUK said were seeing increased foot traffic and revenue.

Aerison Group (ASX:AE1)
Aerison is heading into FY22 with the previous revenue guidance of $180m now fully secured. The company says ongoing tendering activities and additional expected contract awards provide notable upside potential on that current guidance.

Appollo Tourism & Leisure (ASX:ATL)
Appollo is set to merge with Tourism Holdings (THL) in a deal set to create an EBIT benefit of $16.2m per annum, the company said. The scheme is conditional upon THL receiving approval to list on the ASX.