Morning Wrap: ASX 200 to rise, uranium stocks break out + US 10-year yield nears 16-year high

ASX 200 futures are trading 17 points higher, up 0.24% as of 8:20 am AEST.

US markets were mostly higher overnight led by big tech, the US 10-year Treasury yield hits levels not seen since November 2007, Nvidia shares pop 8% after HSBC reiterates a Buy rating and raised its target price, China’s growth hopes fade after a modest rate cut, the Global X Uranium ETF rallies to a fresh 7-month high and bond yields are beginning to give stocks a run for their money.

Let’s dive in. Overnight Summary

Tue 22 Aug 23, 8:26am (AEST) Name Value Chg % Major Indices S&P 500 4,400 +0.69% Dow Jones 34,464 -0.11% NASDAQ Comp 13,498 +1.56% Russell 2000 1,856 -0.18% Country Indices Canada 19,785 -0.17% China 3,093 -1.24% Germany 15,603 +0.19% Hong Kong 17,623 0.00% India 65,216 +0.41% Japan 31,566 0.00% United Kingdom 7,258 -0.06% Name Value Chg % Commodities (USD) […]

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