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Yesterday, the ASX200 closed 0.5% lower to 7,139 points, and it was the technology, utilities and mining stocks that were hit the hardest. On the flip side, the real estate sector managed to post a 1.45% gain.
The best performing stock was Uniti Group (ASX:UWL), up an impressive 9.3% after it was revealed that multiple approaches have been made towards the company, suggesting an interest in acquiring UWL. Goodman Group (ASX:GMG) was also on the rise, closing 3.5% higher following a broker note out from Macquarie. The broker expects that GMG could upgrade its FY2022 guidance in its half-year results, set to be released on the 17th of February. Macquarie has an Outperform rating and an increased price target to $26.63. Meanwhile Regis Resources (ASX:RRL) led the losses, falling 14.3% after cutting its full-year production guidance because of a geotechnical incident at its Rosemont mine and other operational challenges. Other stocks coming under pressure included Imugene (ASX:IMU), Life360 (ASX:360), and Liontown Resources (ASX:LTR).
In the US, it was a very choppy session, with the Dow plunging over 1,000 points during the session, however managed to make a remarkable comeback to close in the green, up 0.29%. The S&P500 lifted 0.28% and the Nasdaq up 0.63%. Investors began the session dumping tech shares, as they have all month, however those shares rebounded as the day went on with Meta, Amazon and Microsoft closing higher. And it’s expected on Wednesday that the Fed will signal its plans on when it will raise rates, after its two-day meeting.
Now, despite the comeback in the US, the futures are suggesting the Aussie share market will open 1.30% lower this morning.
What to watch today:
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