The ASX 200 is set to open lower this morning,  following another selloff on Wall Street on Friday. At 8am AEDT, the ASX 200 June futures contract is pointing down by more than 1%.

Investor anxiety keeps rising as Wall Street suffered its fifth straight weekly drop last week, the longest streak since 2011.

On Friday, volatility dominated with all major US stocks indices finally ending the day lower – the S&P 500 down by 0.57%, the Dow by 0.3% and tech heavy Nasdaq by 1.40%.

The latest jobs reports showed that the US economy added 428,000 jobs last month, much higher than expected. The robust April numbers may bring wages pressure and complicate the Fed’s rate hike path this year.

The yield on 10-year US Treasury advanced 8bp to 3.12% on the news.

Another key data for the Fed this week will be the US April CPI on Wednesday (US time), while China also reports theirs earlier that day.

Meanwhile, Brazilian miner Vale announced a long-term deal to supply Tesla with nickel from its Canadian operations. Nickel was down 1.5% and iron ore fell by 5% on Friday trading.

To cryptos, where Bitcoin was down 3% to US34,200 at 8am AEDT.

In the last few days, Bitcoin, Ethereum and other cryptos have fallen sharply, wiping hundreds of billions of dollars as fear sweeps the markets.


5 ASX small caps to watch today

K2Fly (ASX:K2F)
BHP Iron Ore has selected K2fly’s Ground Disturbance Solution, to be rolled out across BHP’s WA iron ore operations in the Pilbara. The deal represents an initial 1-year contract, with a total contract value (TCV) of $2.12m, and annual recurring revenue of $620k.

Good Drinks (ASX:GDA)
The brewer has maintained momentum in Q3 despite challenging conditions. Total Goods Drinks volume sold so far this year is 10m litres, up 14% on pcp, while total contract brewing for YTD was 5.1m litres, up 28% on pcp.

Fonterra (ASX:FSF)
Milk producer Fonterra has revised its 2021/22 forecast farm gate milk price range from $9.30 – $9.90 per kgMS to $9.10 – $9.50 per kgMS. This reduces the midpoint of the range which farmers are paid off, from $9.60 per kgMS to $9.30 per kgMS.

Nuheara (ASX:NUH)
The medical device manufacturer announced the appointment of John Luna as its US based Chief Executive Officer, as the company explores a possible US listing. Nuheara’s hearing device market presence in the US has been growing since the company’s inception.

Artrya (ASX:AYA)
The AI- based cardiac software developer announced its first US clinical partnership, with Alabama-based Huntsville Heart Center Inc – a national leader in coronary computed tomography angiography that treats more than 80,000 cardiac patients per year.