Market Highlights and 5 ASX Small Caps to watch on Thursday

Wall Street rises to record highs as US inflation softens

US stock markets were mixed on Wednesday, following US inflation release which showed the pace of CPI growth has softened.

The core CPI rose by 0.3% in July which was lower than expected, with energy and food making up the bulk of the increase in prices.

The Dow Jones rose by 0.62%, S&P 500 was up by 0.25% – both to record highs – but tech heavy Nasdaq fell by 0.16%.

Moderna sank 15% on news that European drug regulators are conducting studies on three new possible side effects of Moderna and Pfizer/BioNtech vaccines.

Meanwnhile, the iron ore price rose by 2% overnight to $US165.48 a tonne, while Brent crude was higher by 1% to $US71.34 a barrel.

To cryptos, where Bitcoin is rising and trading at US$45,900 level at 8:00am AEST, from US$45,700 on Wedensday.

Ethereum (ETH), the perennial number two by market cap, is meanwhile up 4% to US$3,180.

ASX 200 to open higher on Thursday

The ASX 200 looks set to open higher his morning, with futures markets (September contracts) pointing up by 0.17% at 8:30am AEST.

Yesterday, the benchmark finished 0.29% higher to close at 7,584, with metals and mining companies populated most of the small cap winner’s list.

In big caps news this morning, troubled wealth manager AMP (ASX:AMP)’s profit fell by 28% to $146m, and it declared no dividends.

Telstra (ASX:TLS) meanwhile, has declared a $1.35bn on-market share buyback, distributing half of the proceeds from its 49% sale of InfraCo Towers for $2.8bn in June.

5 ASX small caps to watch today

Droneshield (ASX:DRO)
The anti-drones tech company says it has received approximately $1.1 million in cash as a grant from the Australian Government as an R&D tax incentive for its 2020 activities. The grant will be reflected in the cash receipts for the 3Q of FY21 quarter.

DUG Technology (ASX:DUG)
The applied physics software company said it’s in the process of filing a number of patents related to hydrogen energy storage systems. DUG has been developing low-cost, maintainable solutions as part of the company’s green- innovation investment initiatives.

Praemium Ltd (ASX:PPS)
The wealth management tech company has just appointed Anthony Wamsteker as Chief Executive Officer, effective from 16 August. Wamstekar has held the role of Interim CEO since May, and brings over 30 years’ experience in financial services, including nine years as the founding CEO of ME Bank.

Antipa Minerals (ASX:AZY)
The company announced that assays at its 100% owned Minyari deposit in WA have returned significant high-grade gold and copper intersections, including: 28.0m at 1.63 g/t gold and 0.18% copper.

Rox Resources (ASX:RXL)
The company said drill results from its Youanmi Gold Project in WA continues to deliver high-grade results which include: 7m at 5.14g/t Au from 151m, including 11m at  7g/t Au from 156m.