Market Highlights: Oil stocks in focus as crude spikes 5pc; and 5 ASX small caps to watch today

Stockheads10-02

ASX to open flat as oil prices spike and US tech stocks fall Crude prices spike 5pc after Iran’s missile strikes on Israel; gold gains 1pc Nike’s revenue disappoints; Apple faces weak iPhone 16 demand...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2472555901?lang=en_US&edition=fundamental","thumbnail":"https://stockhead.com.au/wp-content/uploads/2024/10/Crude-prices-on-watch-after-Irans-missile-strike.-Picture-Getty-640x360.jpg","is_english":true,"pubTime":"2024-10-02 07:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2472555901","market":"hk","top_or_hot":-1,"title":"Market Highlights: Oil stocks in focus as crude spikes 5pc; and 5 ASX small caps to watch today","media":"Stockheads","content":"<div>\n<p>ASX to open flat as oil prices spike and US tech stocks fall\nCrude prices spike 5pc after Iran’s missile strikes on Israel; gold gains 1pc\nNike’s revenue disappoints; Apple faces weak iPhone 16 demand...</p>\n\n<a href=\"https://stockhead.com.au/news/market-highlights-oil-stocks-in-focus-as-crude-spikes-5pc-and-5-asx-small-caps-to-watch-today/\">Source Link</a>\n\n</div>\n","source":"stockheads_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Highlights: Oil stocks in focus as crude spikes 5pc; and 5 ASX small caps to watch today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Highlights: Oil stocks in focus as crude spikes 5pc; and 5 ASX small caps to watch today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-02 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://stockhead.com.au/news/market-highlights-oil-stocks-in-focus-as-crude-spikes-5pc-and-5-asx-small-caps-to-watch-today/><strong>Stockheads</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ASX to open flat as oil prices spike and US tech stocks fall\nCrude prices spike 5pc after Iran’s missile strikes on Israel; gold gains 1pc\nNike’s revenue disappoints; Apple faces weak iPhone 16 demand...</p>\n\n<a href=\"https://stockhead.com.au/news/market-highlights-oil-stocks-in-focus-as-crude-spikes-5pc-and-5-asx-small-caps-to-watch-today/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7KXQ091.USD","symbol_name":"Janus Henderson Balanced A Inc USD","start_time":0,"source_url":"https://stockhead.com.au/news/market-highlights-oil-stocks-in-focus-as-crude-spikes-5pc-and-5-asx-small-caps-to-watch-today/","article_id":"2472555901","we_media_id":null,"thumbnails":["https://stockhead.com.au/wp-content/uploads/2024/10/Crude-prices-on-watch-after-Irans-missile-strike.-Picture-Getty-640x360.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472555901","pubTimestamp":1727824066,"sourceInfo":{"source_id":"stockheads_stock","name":"Stockheads"},"weMediaInfo":null,"summary":"ASX to open flat as oil prices spike and US tech stocks fall. Crude prices spike 5pc after Iran’s missile strikes on Israel; gold gains 1pc. Nike’s revenue disappoints; Apple faces weak iPhone 16 demand. Gold price rose by 1% to US$2,661.97 an ounce.Oil prices  rose by 5%, with Brent crude now trading at US$74.50 a barrel.The benchmark 10-year US","collect":0,"end_time":0,"defaultTopTitle":"stockhead.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","BK4575":"芯片概念","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","RGP":"Resources Global Professionals","BK4527":"明星科技股","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","BK4501":"段永平概念","BK4579":"人工智能","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","BK4588":"碎股","SMCI":"超微电脑","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","BK4574":"无人驾驶","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4561":"索罗斯持仓","BK4573":"虚拟现实","AAPL":"苹果","BK4505":"高瓴资本持仓","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","BK4581":"高盛持仓","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4170":"电脑硬件、储存设备及电脑周边","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","NKE":"耐克","BK4532":"文艺复兴科技持仓","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","BK4592":"伊斯兰概念","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4585":"ETF&股票定投概念","BK4507":"流媒体概念","BK4571":"数字音乐概念","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","BK4534":"瑞士信贷持仓","BK4576":"AR"},"translate_title":"市场亮点：原油价格飙升5%，石油股成为焦点；以及今天值得关注的5只ASX小盘股","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RGP":1,"NKE":0.9,"AAPL":0.7,"SMCI":0.6},"content_text":"ASX to open flat as oil prices spike and US tech stocks fall\nCrude prices spike 5pc after Iran’s missile strikes on Israel; gold gains 1pc\nNike’s revenue disappoints; Apple faces weak iPhone 16 demand\nThe ASX is expected to open flattish when the market resumes on Wednesday after oil prices spiked by as much as 5% overnight.The tech heavy Nasdaq Composite took a hit, down by 1.5% with Nvidia dropping 3.66%. The NYSE Fang + Index, which covers the biggest seven tech stocks, also slipped by 1.5%.The blue chips Dow Jones dropped by 0.4%, while the S&P 500 ended the day down 0.9%.Crude prices spiked to their highest in more than a year after Iran unleashed 200 missiles on Israel, sending sirens wailing throughout the country as residents took refuge in bomb shelters. Israel vowed to retaliate.James Reilly at Capital Economics said one concern for the market is the impact this could have on inflation.“An important consideration will be whether Saudi Arabia increases production if Iranian supplies were disrupted,” he added.Safe haven gold jumped by 1% following the strike, while cryptocurrencies dipped.Meanwhile, US data shows a surprising rise in job openings to 8.04 million in August.This now sets the stage for Friday’s highly anticipated September jobs report, where investors will be hoping for confirmation the US economy is cooling, not collapsing.In stocks news, Nike’s earnings beat expectations, but revenue fell short, causing the stock to plunge 5% in after-hours trading. Nike’s shares have dropped over 25% this year.Super Micro Computer fell 3% following a 10-for-1 stock split that took effect after the market closed.Barclays analyst Tim Long raised concerns about weak demand for the iPhone 16, suggesting Apple may have cut production by around 3 million units for the December quarter.Long has maintained his Underweight rating on Apple, signalling it might be time to sell. Apple’s shares fell by almost 3%.And, Charles Schwab CEO Walt Bettinger announced his retirement at the end of the year, with President Rick Wurster set to take over in January. Charles Schwab’s shares fell 1.4%.Walz vs Vance debateUS vice president candidates Tim Walz and JD Vance are set to debate in the next hour or so, marking the last major prime-time event in the 2024 campaign just 34 days before the election.The debate rules mirror those of the presidential debates, with one exception: candidates’ microphones won’t be muted while they speak.Also, both candidates will stand during the debate, a first since the 2008 showdown between Joe Biden and Sarah Palin.Expect to hear discussions reminiscent of the recent presidential debate, with Walz advocating for higher taxes on the wealthy and tax cuts for lower-income earners.Vance, meanwhile, supports extending the 2017 tax cuts and raising tariffs on foreign goods.In other markets …Gold price rose by 1% to US$2,661.97 an ounce.Oil prices  rose by 5%, with Brent crude now trading at US$74.50 a barrel.The benchmark 10-year US Treasury yield was down by 5 basis point (bond prices higher) to 3.73%.Bitcoin tumbled by 4% in the last 24 hours to US$60,831, while Ethereum fell by 6% to US$2,455.Meanwhile, iron ore  dropped by 1.7% to $US107.90 a tonne.5 ASX small caps to watch todayAskari Metals (ASX:AS2)\nAskari has identified significant exploration potential for gold at its 100%-owned Mt Maguire project, located in WA. Historical reviews reveal extensive gold mineralisation, including intercepts such as 2m at 12.14g/t Au and broader hits like 31m at 0.84g/t Au. The project features over 8 km of untested shear zones along the same trend as Kalamazoo Resources’ Ashburton Project, which boasts a substantial mineral reserve. With gold prices high and a newly defined JORC mineral resource at the Burracoppin Gold Project, Askari said it’s eager to pursue these immediate opportunities.KMD Brands (ASX:KMD)\nKMD Brands, the owner of Rip Curl and Kathmandu, announced the appointment of Brent Scrimshaw as its new Group CEO, succeeding Michael Daly, who has resigned after three and a half years in the role. Scrimshaw, who has been a director since 2017 and has extensive experience in the sports footwear and apparel industry, is expected to strengthen KMD’s global presence and enhance its product offerings, says KMD. Meanwhile, Daly will continue in his role until Scrimshaw officially takes over.AuMake International (ASX:AUK)\nAumake has entered a tripartite agreement to promote and sell Hunter Valley wines in China, collaborating with the Hunter Valley Wine & Tourism Alliance and Dimple Story. This three-year partnership aims to generate up to $25.5 million in sales by 2027, leveraging Dimple Story’s expertise in logistics and market access. Also, Aumake has secured a purchase order worth $634k for Australian wines from China Southern Air Cross Border E-Commerce.Culpeo Minerals (ASX:CPO)\nCulpeo has announced promising copper and gold results from its Fortuna Project in Chile, specifically at the El Quillay South Prospect. The Phase 1 Trenching Program revealed significant assay results, including 46 metres at 0.90% copper equivalent and other notable intersections. Ongoing trenching aims to define more drill targets and extend mineralisation, which remains open to the south.Medallion Metals (ASX:MM8)\nMedallion has begun securing essential environmental and mining approvals for the Ravensthorpe Gold Project (RGP) while advancing plans to process its sulphide ore at the Cosmic Boy plant in Forrestania. The RGP contains significant mineral resources, including 770,000 ounces of gold and 36,000 tonnes of copper, located near the surface. The company plans to submit a referral under the Federal Environment Protection and Biodiversity Conservation Act in October, aiming to receive primary approvals within six months.At Stockhead we tell it like it is. While Culpeo Minerals is a Stockhead advertiser, it did not sponsor this article.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472555901"}