Market Highlights and 5 ASX Small Caps to watch on Monday

Wall Street falls again for fourth consecutive day

All three major US stock market benchmarks fell on Friday for the fourth consecutive day.

Equity investors are concerned about the rising Delta variant cases, and the impending Fed tapering of asset purchases.

The Dow Jones fell by 0.78%, the S&P 500 by 0.77%, and the tech heavy Nasdaq by 0.87%.

In a blow for Apple, a US federal court ruled the company could no longer prohibit developers from providing links or other communications that direct users away from the Apple payment system. Apple’s stock price dropped 3.3% on the news.

Meanwhile, the iron ore price has hit a one-year low, after falling by another 1.3% to US$128.75 on China demand concerns. Oil prices bounced back by 2%.

To the cryptocurrency market where Bitcoin has fallen to US$45,300 at 8:00am AEST, from US$46,400 on Friday.

BTC has lost around 10% last week, with Ethereum, Cardano, Ripple’s XRP and the meme Dogecoin recording even sharper falls.

ASX 200 to open flat on Monday

Local stocks are expected to dip this morning following the weak lead from Wall Street.

On Friday, the Aussie benchmark index gained 0.5% to close at 7,407, but closed the week 1.55% lower.

Set to list at 11:30am AEST is Legacy Mineral Holdings (ASX:LGM) a junior explorer focusing on copper and gold discoveries in the Lachlan Orogen belt in NSW.

And at 12pm EST iron ore explorer Pearl Gull Iron (ASX:PLG) is set to list.

5 ASX small caps to watch today

ImpediMed (ASX:IPD)
The medtech company said that two abstracts are being presented at the prestigious Heart Failure Society of America (HFSA) Annual Scientific Meeting held on September 10 – 13. The abstracts demonstrate that bioimpedance spectroscopy offers an objective measure of heart failure stability during a viral pandemic, and has further shown the value of IPD’s SOZO digital platform.

Revasum (ASX:RVS)
The semiconductor tech specialist has appointed a new CEO and CTO to the company. Rebecca Shooter-Dodd who is currently chief financial and operating officer will become CEO, while Dr. Karey Holland will become CTO – both effective immediately.

Acrux Limited (ASX:ACR)
The skin-focused biotech company has submitted an Abbreviated New Drug Application (ANDA) to the US FDA for its generic version of Dapsone Gel, 5% used to treat acne. The FDA has notified Acrux that the submission is sufficiently complete to be accepted for review.

Musgrave Minerals (ASX:MGV)
The company says more thick intervals of near-surface gold have been found at its flagship 100% owned Cue Gold Project in WA’s Murchison district. Results include 36m @ 2.9g/t Au from 12m, and 60m @ 1.0g/t Au from 42m.

Douugh (ASX:DOU) 
The fintech says that FY22 has started strongly, following the recent launches of its Android app and wealth management services in the US. At the end of August, Douugh had around 40k users, who have deposited $15m into their accounts and have collectively spent more than $5m.