Things are looking a bit dire for poor Powell now.
Trump’s latest onslaught continued overnight, branding the Fed Chair “incompetent” and “crooked”.
A bit of school yard taunting was always Trump’s style. How will it end? A punch on in the oval office perhaps?
Market highlights
ASX 200 futures are pointing down 1 point to 8783.
All US prices near 3.15pm New York time:
- AUD -0.4% to US66.82¢
- Bitcoin +3.1% to $US94,472
- On Wall St: Dow -0.9% S&P -0.4% Nasdaq -0.4%
- VIX +0.99 to 16.11
- Gold -0.1% to $US4594.19 an ounce
- Brent oil +2.5% to $US65.47 a barrel
- Iron ore -0.9% to $US108.20 a tonne
- 10-year yield: US 4.17% Australia 4.70%
Across Markets…
Australian shares are poised for a flat open. Shares were lower in late trade in New York as the US reporting season kicked off cautiously and December’s CPI data failed to move the needle on bets for lower interest rates.
Also not helping sentiment on Wall Street, President Donald Trump called the North American trade pact between the US, Canada and Mexico “irrelevant” and reiterated his contempt for Federal Reserve chairman Jerome Powell.
Separately, JPMorgan fell 4.1 per cent after its top executives flagged concerns about Trump’s demand for a cap on credit card rates and his continuing attacks on the Fed. The bank also reported weaker-than-expected investment banking results.
While the US consumer price index rose 0.3 per cent last month, it was mostly in line with expectations. However, there was a lot of noise in the data, given the impact of the earlier federal government shutdown.
Strategas Securities’ Donald Rissmiller said that “fuzzy data are continuing to make policymakers’ jobs difficult”, and the latest report reinforces a potential “skip” on rate cuts later this month.
Evercore ISI’s Krishna Guha said the report came in “on the moderate side of expectations”, consistent with his view that the Fed will next cut rates in June with two further cuts in September and December – “though this is made much harder and less certain, not easier, by the Trump administration’s attacks on the Fed”.
Source: AFR
Entropy’s psilocybin therapy shows rapid and sustained reduction of binge eating in 100pc of patients
- Entropy Neurodynamics Phase 2a results validate its oral psilocybin TRP-8802 in the treatment of Binge Eating Disorder
- Results also highly supportive of the use of lead IV-infused psilocin asset TRP-8803 to treat the disorder
- Results published in Journal of Eating Disorders showed mean binge-eating episodes in 100% of evaluable patients were reduced
Special Report: Clinical-stage biotech Entropy Neurodynamics has received positive Phase 2a results for its psilocybin-based therapy in patients with Binge Eating Disorder (BED).
Entropy Neurodynamics (ASX:ENP) said the findings, published in the peer-reviewed Journal of Eating Disorders, showed rapid and sustained reductions in binge-eating episodes, alongside improvements in psychological health and waist circumference.
The trial evaluated TRP-8802, an oral psilocybin treatment, in six patients at the University of Florida.
Therapy sessions preceded a single psilocybin dose, followed by structured supportive therapy. Of the six patients enrolled, five were evaluable for data.
Mean binge-eating episodes in 100% of evaluable patients were reduced with an 80% reduction sustained through to Week 14 post-treatment.
The proportion of patients classified with severe BED declined from 40% at baseline to 0% by Week 6, with four of five participants classified as none-to-mild BED by Week 14.
Furthermore, four of five (80%) of patients recorded waist circumference reduction at Week six post-dose, including two patients achieving reductions greater than 6cm, suggesting a potential impact on abdominal obesity.
Importantly, ENP said improvements in psychological health were reported including reductions in anxiety, depression, and psychological inflexibility—a recognised driver of eating disorders.
Exploratory neuroimaging also indicated enhanced cognitive control and reorganisation of key neural networks.
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Today’s Price Change: $0.011 Unchanged
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.26 +15.56%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Today’s Price Change: $0.037 Unchanged
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Today’s Price Change: $0.032 Unchanged
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.053 Unchanged
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Today’s Price Change: $0.003 Unchanged
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Today’s Price Change: $0.029 -9.38%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Today’s Price Change: $19.30 -0.10%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Today’s Price Change: $0.540 -0.92%
Company: Noviqtech Ltd (ASX:NVQ)
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Today’s Price Change: $0.020 Unchanged
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Today’s Price Change: $0.028 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Today’s Price Change: $0.155 +24%
Company: WhiteHawk Ltd. (ASX:WHK)
Sector: Cybersecurity & AI
Deal Type: Placement
Raise Amount: $1.7M
Latest Entry Price: $0.01 with 1:3 option $0.02 strike
Today’s Price Change: $0.008 -11.11%
Company: Kalgoorlie Gold Mining Limited. (ASX:KAL)
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Today’s Price Change: $0.051 +2%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
Comments are closed