At 11:30am, the S&P/ASX 200 is 0.69 per cent lower at 7,701.90, reflecting Wall Street performance where banking stocks weighed on the Dow Jones while the Nasdaq and S&P 500 were lifted by Apple’s 7.3% surge. Apple’s stock price closed slightly lower after reaching a peak, contributing to its market cap of $US3.18 trillion, while investors are closely monitoring the upcoming May US CPI report and the Federal Reserve’s policy decision.
The SPI futures are pointing to a fall of 47 points.
Best and worst performers
The best-performing sector is Energy, up 1.09 per cent. The worst-performing sector is Information Technology, down 1.07 per cent.
The best-performing large cap is Woodside Energy Group (ASX:WDS), trading 2.21 per cent higher at $27.69. It is followed by shares in James Hardie Industries plc (ASX:JHX) and Auckland International Airport (ASX:AIA).
The worst-performing large cap is The a2 Milk Company (ASX:A2M), trading 3.45 per cent lower at $6.855. It is followed by shares in Atlas Arteria (ASX:ALX) and Alumina (ASX:AWC).
Commodities and the dollar
Gold is trading at US$2328.90 an ounce.
Iron ore is 4.3 per cent lower at US$103.80 a tonne.
Iron ore futures are pointing to a 0.5 per cent fall.
One Australian dollar is buying 66.11 US cents.