S&P/ASX 200 trades lower after Wall Street retreats from record highs

S&P/ASX 200 (INDEXASX:XJO) has retreated from its early gains to trade 0.025% lower at 6695.5 points by about 1.51 pm. This follows losses overnight on Wall Street as investors were concerned about a potential overvaluation of US stocks, which climbed to fresh all-time highs at the end of last week. Locally, the tech sector was a major drag on the market falling 1.14%. Tyro Payments (ASX:TYR) fell 8.89% after dropping 4% yesterday following a terminal outage late last week. Afterpay (ASX:APT) declined 1.64%. COVID-19 update New South Wales recorded five new locally acquired cases of COVID-19 in the 24 hours to 8 pm last night. 11 cases were also recorded in returned travellers, bringing the total number of COVID-19 cases in NSW since the beginning of the pandemic to 4,845. Covid-19 infections have surpassed 90 million confirmed cases around the world as of Sunday afternoon The US, now with more than 22.2 million infections, leads the world with the highest number of infections recorded since the pandemic began. Top gainers Today’s top gainers on the ASX include YPB Group Ltd (ASX:YPB) (+50.00%), Australian Strategic Mtrls (Hldngs) Ltd (ASX:ASM) (+16.28%), Elementos Limited (ASX:ELT) (+12.50%), Argonaut Resources NL (ASX:ARE) (+33.33%), Emperor Energy Ltd (ASX:EMP) (+16.67%), Engage:BDR Ltd (ASX:EN1) (+20.00%) and Rimfire Pacific Mining N L (ASX:RIM) (+12.50%). Proactive news headlines: Astro Resources acquires historical data for Needles Gold Project in Nevada Astro Resources NL (ASX:ARO) has acquired a detailed dataset of historic drilling and surface exploration for the Needles Gold Project in Nevada. Westar Resources reveals high-priority geophysical targets at Coolaloo Gold Project Westar Resources Ltd (ASX:WSR) welcomes a review by Southern Geoscience Consultants (SGC) of the company’s aeromagnetic and radiometric survey across the Coolaloo Gold Project at Mt Magnet that identified 12 target areas - four of which are considered high priority. Twenty Seven Co identifies largest and highest magnitude gold soil anomalies to date at Rover Twenty Seven Co Ltd (ASX:TSC) (FRA:U9V) has discovered the largest and highest magnitude gold soil anomalies defined to date at its Rover Gold Project following recent soil sampling. Red River Resources completes transformative quarter with Hillgrove gold production start and Thalanga continued strong output Red River Resources Ltd (ASX:RVR) (FRA:R1R) has recorded a transformative December quarter, kicking off production at its Hillgrove Gold Mine in northern New South Wales, with the first ore processed through the plant on December 29, 2020. YPB Group secures A$600,000 contract with China’s Zhongneng CIC International for T2 Tracer-Scanner YPB Group Limited (ASX:YPB) has secured a three-year take-or-pay contract with China’s Zhongneng CIC International Import and Export Trade Co Ltd valued at around A$600,000 for the use of the T2 Tracer-Scanner product. Moho Resources' additional high-grade gold assays extend mineralisation at East Sampson Dam Moho Resources Ltd (ASX:MOH) has received additional and ‘unexpected’ high-grade gold assay results from recently completed diamond drilling at the East Sampson Dam (ESD) gold prospect within the Silver Swan North Project in WA's Goldfields region. Creso Pharma banks A$320,000 after delivering second shipment of cannaQIX® to Pharma Dynamics in South Africa Creso Pharma Ltd (ASX:CPH) (FRA:1X8) (OTCMKTS:COPHF) has completed all required importing and exporting procedures and successfully delivered the second shipment of cannaQIX® products to Lupin International Ltd’s (NYSE:LUPIN) subsidiary, Pharma Dynamics South Africa. Piedmont Lithium positions itself as key player in US lithium supply chain Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) (OTCMKTS:PDDTF) is progressing towards construction of its planned 22,700 tonnes per annum lithium hydroxide chemical plant at Kings Mountain in North Carolina, USA. Legend Mining’s assay results confirm best hole to date at Mawson nickel-copper-cobalt discovery Legend Mining Limited’s (ASX:LEG) assay results from diamond drill hole RKDD034 confirm that it is the best hole to date at Mawson prospect within the Rockford project on Western Australia's Fraser Range. Cipherpoint halted with capital raising and potential acquisition news pending Cipherpoint Ltd (ASX:CPT) has been granted a trading halt by the ASX with an announcement pending in regard to a capital raising and a potential acquisition.