Market Highlights and 5 ASX Small Caps to watch on Thursday

Wall Street, European stocks extend rebound

All three US benchmarks and share markets in Europe rallied again overnight, extending the rebound to two consecutive days.

The Dow Jones rose 0.83%, S&P 500 by 0.82%, and the tech-focused Nasdaq by 0.92%.

Coca Cola, Chipotle, and United Airlines all jumped after announcing strong earnings.

Netflix meanwhile, said it lost subscribers during the quarter and to get them back, it will now expand into games, starting with ad-free games on mobile devices at no added cost to subscribers.

To cryptos, where Bitcoin is rising, and is currently trading at US$32,00 level at 8am AEST, from the US$29,650 level on Wednesday.

The coin surged after Elon Musk said at a conference that he owns BTC, along with Dogecoin and Ethereum.

ASX 200 set to open lower on Thursday

Following the action overnight, the ASX 200 looks set to open higher at the open this morning, with futures markets (September contracts) pointing down by 1.14% at 8:30am AEST.

On Wednesday, the ASX 200 regained 0.78%, with all 11 sectors in the green except for Industrials and IT.

Brisbane has won the rights to host the 2032 Summer Olympics Games, after getting a unanimous uncontested vote from the Olympics Committee.

5 ASX small caps to watch today

Prospa (ASX:PGL)
The fintech company reported record originations of $182.7 million in Q4 FY21, a 798% increase on Q4 FY20.The results, the company said, were driven by continued economic recovery, improved technology capabilities, and strong repeat customer originations.

Mad Paws (ASX:MPA)
The pets company added around 16,000 new customers during the quarter, and recorded $4.1 million in gross merchant value (GMV), a 483% increase from the previous quarter.

Senex Energy (ASX:SXY)
Senex and Adbri (ASX:ABC) have signed a new long-term gas sales agreement to support manufacturing operations. The agreement will supply up to 11 petajoules (PJ) of natural gas to support Adbri’s South Australian manufacturing operations to 2030.

Etherstack (ASX:ESK)
Etherstack has signed an $11.6m deal with Samsung Electronics to supply Etherstack network elements to a telecommunications carrier client of Samsung’s for public safety use. Total revenues for Etherstack comprising licence fees, project deployment revenues and support revenues will be US$8.5 million (~AUD$11.6 million).

Coda Minerals (ASX:COD)
The first two of three planned wedge holes from Coda’s recent IOCG exploration hole DD21EB0018 (announced on 9 June) have now been completed. The company said the holes provide exceptional visual sulphides indicating proximity to mineralising structures.