Lack of direction from overseas with Europe closed and US mixed

By Trevor Hoey. Published at May 2, 2017, in Features

Australian markets are likely to run their own race on Tuesday with a lack of leads from overseas as major European markets were closed, including the London Metals Exchange, and there was a lack of direction from the US.

While the Dow declined 0.1% to close at 20,913 points, it was a day of ups and downs where at one stage the index hit a high of 20,976 points.

By comparison, the NASDAQ was unerring in marching to another record high of 6100 points before closing at 6091 points, representing an increase of 0.7%.

Strong performances from Apple Inc., Netflix Inc. and Inc. drove the index higher.

On the commodities front, both oil and gold took a tumble, falling 1.2% and 0.8% respectively.

This sees oil back below the US$49 per barrel mark.

The fall in the gold price was also significant in that the close of US$1257 per ounce represented a three-week low, bringing it back to a point that appeared to be a level of support prior to surging on the back of safe haven buying in mid-April.

Consequently, technical analysts could see a break below US$1250 per ounce as the forerunner to revisiting the US$1200 per ounce mark.

The Australian dollar is fetching just over US$0.75, having rallied strongly from US$0.745 last week. However analysts still aren’t ruling out the possibility of it finding a level in the vicinity of US$0.72 in the not too distant future.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!