No surprises in US PCE inflation report spells a good day for the ASX

ASX News
01 Mar 2024 09:44 (AEDT)

The ASX200 is set to rise with futures up 0.26% near 8.30am AEDT on Friday, following a PCE inflation report in the US that didn’t contain any nasty surprises.

The S&P500 had another record run, ending up +0.52% and logging the best February in nearly a decade. The NASDAQ followed suit as it’s wont to do, landing in the green +0.90%.

It’s likely Australian traders are going to turn their eyes back to the rally and forget the economy. Let’s hope so, anyway.

Interesting times.

Stocks catching eyes this morning:

Chariot Corp (CC9) has expanded one of its landholdings.

Specifically, the company has grown out its Black Mountain project.

The project area has grown by 206%.

Shares last 27c.

Syrah (SYR) has inked a new offtake agreement.

The lucky partner in question is an entity called Posco Future.

Ore will come from Balama.

Shares last 61c.

Peninsula Energy (PEN) has issued an operational update.

The company says it’s strengthened its sales pipeline to nuclear energy players.

“The new sales agreement requires that the Company sell 1.2 million pounds (Mlbs) of uranium over a 6-year period starting in 2028 to the European nuclear fuel buyer Synatom.”

Shares last 11c.

4DMedical (4DX) has issued an update on 2024 activities.

The company will be participating in new burn pit research.

This exposes the company to a US veterans’ affairs program.

Shares last at 66.5c.

Arrow Minerals (AMD) has made an exploration update.

The company is reporting a strong start to drilling at Simandou North.

Hematite and iron oxide minerals are reported as present in the first four holes.

Shares last at 0.6c.

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