PEAK ASSET: MORNING WRAP 24 MARCH: ASX to open flat despite unsettled US markets | First seven assays encourage Auric’s Munda gold pursuit |

Last night, the Peak team attended the YJP event in St Kilda to hear Paul Bassat Speak. 

For those of you who have been living under a rock…

Paul Bassat is an Australian attorney and businessman.

He co-founded online job search website Seek Limited in 1997 with his brother Andrew Bassat. 

He now runs Square Peg, a venture capital fund that has backed companies such as CANVA and boasts over $1 billion in funds under management.

Across Markets…

Australian shares are set to open flat after choppy trading on Wall Street, while Jerome Powell and Janet Yellen told Congress the US economy was still vulnerable to the pandemic.

Making their first joint appearance in their current jobs, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell said more must be done to limit the damage from the coronavirus pandemic and to promote a full economic recovery.

Powell testified that a recovery is far from complete, so the Fed will “continue to provide the economy the support it needs for as long as it takes.”

Oil and gas prices slid while travel-related stocks fell as much as 4 per cent.

“The stock market is facing several tailwinds, including the recent passage of additional fiscal stimulus, the faster pace of COVID-19 vaccinations and consumers holding plenty of cash that was saved during the COVID-19-related lockdowns from last year,” writes Greg Marcus, managing director of UBS Private Wealth Management.

Source: AFR