Wall Street inches lower overnight

All three US stock market indexes finished slightly lower overnight to close out the month.

The Dow Jones fell by 0.11%, the S&P 500 by 0.13%, and tech heavy Nasdaq by 0.04%.

European shares also fell after Euro zone inflation data rose to 3%, a ten-year high.

Attention overnight turned to the US District Court where jury selection has begun for the trial of Theranos founder Elizabeth Holmes, who has been charged with fraud.

In other markets, spot iron ore fell by 3% to US$152.6/tonne. Oil prices fell by around 1% ahead of the Opec+ meeting.

Bitcoin was lower, trading around the US$47,000 level at 8:00am AEST, from the S$48,400 level on Tuesday.

Meanwhile, Asia-Pacific digital asset exchange Zipmex has plans to further expand into Australia after raising US$41 million in a series B funding round.

 

ASX 200 to open higher on Wednesday

Following the moves in Wall Street, the ASX 200 looks set to open lower his morning, with futures markets (September contracts) pointing down by 0.36% at 8:30am AEST.

Yesterday, the Aussie benchmark rose 0.41% to close at 7,535, and was 0.58% higher for the month of August.

Later today, Australia’s will get its quarterly economic report card with the release of Q2 GDP figures. CoreLogic’s monthly house price update for August will also be released.

 

5 ASX small caps to watch today

Decmil Group (ASX:DCG)

The construction services company has been awarded a $28.5m civil infrastructure project by Main Roads WA. The project is a “construct only” road and bridge work for the Roy Hill-Munjina Road alignment in the East Pilbara region. Completion is expected by mid 2022.

Memphasys (ASX:MEM)
The biotech company announced that it has entered a settlement agreement with its engineering parter Hydrix Services (ASX:HYD), concerning an engineering flaw with the Felix device. Under the agreement, $500k will be paid by Hydrix to Memphasys over four quarters, plus 1 million shares of HYD shares will be issued to Memphasys.

4D Medical (ASX:4DX)
The medtech company is about to commence Phase Two of the study into its flagship XV Lung Ventilation Analysis Software. This follows the successful Phase One study which was completed in December. The Phase Two study will allow additional radiologists to become familiar with XV LVAS’ application.

Talga Group (ASX:TLG)
The battery anode specialist announced that it’s about to commence trial mining this month at the Vittangi graphite project in northern Sweden. Graphite mined during the trial will feed the expanded testing of its flagship Talnode-C lithium-ion anode.

Anax Metals (ASX:ANX)
ANX says it’s targeting a sustainable copper project at Whim Creek in WA. Production target is 3.55m tonnes, with a 5-7 year project life. The company expects a 77% internal rate of return on the project.

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