Economy News Shares

Energy Shares Blazed A Trail On The ASX Today

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As OPEC+ meetings were delayed, energy shares grabbed attention. Many were up by 1.75 percent and more. After the UAE scoffed at a tentative deal which could have increased supply. Oil prices inclined, though, and by about 2% as well. Expectations that the OPEC+ meet up would yield some good results were high.

Investors assisted consumer discretionaries along by 0.8%. They sold many at a lower premium. The ASX Index inertia set after the S&P 500 closed at another all-time high for the sixth time. The bellwether index listed another win in its longest success streak since the beginning of the year. The NASDAQ was down slightly as microchips softened the unmitigated rise by the end of the day.

Santos and Woodside saw gains of a little over 2%. The benchmark S&P/ASX200 index inclined 18.1 points, which is 0.24%. The total at close was 7283.7 at the time of this writing. The All Ordinaries was up, too, by 17.9 points, at 0.23%, clocking in at 7559.4 points.

Federal emergency unemployment benefits have been blamed for employment woes. Residual COVID fear permeated the data. Meanwhile, the Aussies have severely limited travel through and into their country. This was partly due to fears of the new “Delta” strain of the Coronavirus. This is putting a lot of markets on the backfoot. Investors are being cautious this week as a result.

Conclusion

Nuix got a spot on the ASX Index last year, and they said on Wednesday this week that ASIC was investigating its former CEO. Stocks dove almost 13% as a result. But shares rose 5.43% on Thursday. MetaNews will continue to monitor this unnerving trend in COVID variants as well. This will impact markets one way or the other, many experts predict. As OPEC+ meetings were delayed, energy shares grabbed attention. The ASX is a major market and hopefully their policies shift soon. Safety is a larger overall concern considering the new variant.

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Billy Houghton

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading.
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