Overseas markets highlights

The US equity markets tanked overnight: Dow closed -1.75%, S&P500 -2.45%, and Nasdaq -3.52%.

Tech stocks were sold down as Treasury yields charged to a one-year high. 10-year yield spiked as much as 23 basis points to 1.6%.

The selldown in equities could be a signal that the recovery has already been priced into the stock market.

Meanwhile the Aussie dollar touched US80c for the first time in three years. At time of writing however, the Aussie has retreated to US78.68c.

Bitcoin above to US$49,000 level

Bitcoin has edged slightly up, trading at US$49,032 at 8am AEDT.

Earning seasons on the ASX

Kogan.com (ASX:KGN), Aristocrat (ASX:ALL) and Dalrymple Bay (ASX:DBI) are some of the companies reporting their earnings later today.

Afterpay’s (ASX:APT) shares will also return to trading after the halt yesterday due to capital raising,

These companies have reported their earnings this morning before the bell.

The data services company reported pro forma NPAT at $9.5m, which is 48% of FY21 forecast. Nuix listed on the ASX last December.

Austal (ASX:ASB)
Shipbuilder Austal reported that net profit climbed 29 per cent to $52.4 million. However it has revised its full year revenue to $1.65 billion from $1.8 billion.

Lynas Rare Earths (ASX:LYC)
The mining company announced net profit of $40.6 million, up by a massive 944.4 per cent, as rare earth prices climbed during the period.

5 ASX small caps to watch today

Pivotal Systems (ASX:PVS)
Posted half-year record revenues of US$22.1 million, up 44% versus the prior corresponding period (pcp). The results reflected strong demand for Pivotal’s products from semiconductor original equipment manufacturers (OEMs).

AVA Risk Group (ASX:AVA)
Data security company AVA reported a 1,071% increase in net profits to $11 million for the half. The results were underpinned by an increase in revenues of 72% to $35.15 million.

Douugh (ASX:DOU)
Fintech Douugh said that it has executed a binding sales agreement with millennial investing app Goodments and entered the final stages of the acquisition.

Joyce Corporation (ASX: JYC)
Retail bedding play posted group NPAT of $7.6m, a 119% increase compared to pcp. This comes on the back of strong sales from its operating businesses, KWB and Bedshed.

Weebit Nano (ASX:WBT)
Computer memory tech Weebit Nano gave an update, saying that ReRam product is now ready to transfer to a production fab, ahead of schedule. According to the company, ReRam is the next generation memory chip.