Market Highlights and 5 ASX Small Caps to watch on Wednesday
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The US markets returned from the long weekend Independence Day holiday, and posted mixed results.
The Dow Jones fell by 0.60%, S&P 500 was down 0.20%, but the Nasdaq rose by 0.17%.
The Pentagon has cancelled a $10 billion Jedi cloud computing contract with Microsoft, which was at the centre of a legal feud with Amazon since 2019. The Amazon share price rose by 5% following this decision, while Microsoft closed flat.
Meanwhile, oil prices were volatile on Tuesday, first rising before falling sharply with Brent Crude down by more than 3 per cent after an OPEC meeting ended without an agreement.
To cryptos, Bitcoin is currently trading at US$33,900 level at 8am AEST, from the US$US$34,000 level on Tuesday.
There is speculation that Tesla might be facing up to $100 million in impairment losses from Bitcoin in Q2, as BTC had dropped from an all time high of US$64,800 in April.
The ASX 200 looks set to open much lower at the open this morning, with futures markets (September contracts) pointing down by 0.99 per cent at 8:30am AEST.
Yesterday, the index closed lower by 0.73per cent, with Energy having another solid day gaining 1.54% but every other sector was in the red, led by Tech and Telcos which lost 1.85% and 2.02% respectively.
The RBA also announced yesterday it will keep its cash rate at an ultra-low 0.1 per cent until 2024, while reducing its bond buy-back program to $4 billion a week until November.
The online retail marketplace has reported another record year, with gross sales up 111 per cent to $218.1 million. The company also said its active customers are at record levels, up by 83.1 per cent year-on-year to 894,225.
The medtech company has reported record clinical trial sales contracts for FY21, up by 14,8% on prior corresponding period (pcp) to $41.3 million. This was underpinned by a strong June quarter, which saw $11.4 million in contracts executed.
The packaging materials company announced that it will establish a Global Research Centre for Bioproducts. SECOS will invest $2 million to develop a world-class centre in Australia to support burgeoning demand for bio-based resin, film, and products.
BWX Ltd (ASX:BWX)
The skin and hair care products company announced a strategic partnership with Chemist Warehouse Group (CWG), confirming that the second tranche of BWX shares will be issued to CWG as part of the the five-year equity linked strategic partnership between the two companies.
Gateway Mining (ASX:GML)
GML said that a significant new gold zone has been discovered adjacent to the cornerstone Montague-Boulder deposit. Initial drilling in this area has returned highly significant intercepts including: 7 metres @ 3.0g/t Au from 84m; and 7 metres @ 1.5g/t Au from 113m.