Tech sparks US markets; ASX set to continue its morning runs

US markets started slowly on Thursday but finished higher on the back of big technology stocks. Apple Inc (NASDAQ:AAPL) was up 2.1% on the NASDAQ, while Adobe Inc rose 1.3%. Banks and healthcare stocks were also in the green. US market performance augers well for the ASX’s opening bell this morning, with the Australian market expected to make a strong solid start again today.  On the commodities front, base metal prices fell with zinc down 1.8% and copper down 0.5%. The shining light was nickel, up 1.6% as consumption continues to increase. Spot gold was trading near US$1,753 an ounce at the close of US trading, however, iron ore fell US$4.75 a tonne, a 2.9% decrease to US$161.45 a tonne.  Oil was lower again, with the delta variant’s impact on Crude prices still weighing on investors’ minds. Brent crude fell by 0.2% to US$71.31 a barrel. The fall comes as the International Energy Alliance (IEA) has cut its estimates for global consumption of oil in the second half of the year by 550,000 barrels a day. In Australia Strong reporting yesterday helped the S&P/ASX 200 lift by 0.1% to another new record of 7,588.2. SPI futures were up 0.4% in another good sign for the start of trade today. The dollar was stable yesterday finishing at 0.7340, arresting its downward trend. Australian indices ASX 200 was up 0.1% to 7,588.2 ASX24 futures was up 0.4% to 7,529  S&P/ASX Small Ordinaries rose 0.19% to 3,507.9 All ordinaries rose 0.08% to 7,860.5 S&P/ASX 100 rose 0.04% to 6,275.7  ASX winners Cannon Resources Ltd up 47.5% Adacel Technologies Limited up 35% Alexium International Group Ltd (ASX:AJX) up 34.7% ASX losers Pilot Energy (ASX:PGY) Ltd down 23.2% Enova Mining Ltd down 16.7% Kaili Resources (ASX:KLR) Ltd down 13.8% In the US It wasn’t just Apple and Adobe leading the way in the US. Salesforce.com, inc. gained a respectable 2.52%, Tesla, Inc. was up 2% and NVIDIA Corporation (NASDAQ:NVDA) grew by 1.1%.  Interestingly, with Moderna Inc set to roll out its COVID-19 vaccine, its shares rose 1.6%.    The Dow recorded another new high, albeit a small one, while the other major indices also enjoyed gains. US indices Dow Jones rose by less than 0.1% to record highs of 35499.85. S&P 500 rose by 0.3% to 4460.83  Nasdaq rose 0.4% to 14816.26 In Europe European markets had a mixed day on Thursday, led by the European STOXX 600 Index hitting a record high. It was good news in the UK as its economy grew by 1% in June - faster than expected growth. In terms of individual performance, Rio Tinto Limited fell a further 5.5%, while BHP Group Ltd fell 1.4%. European indices STOXX 600 rose 0.1% hitting record highs for the eighth straight session to 474.84. German Dax rose 0.7% to 15,937.51 UK FTSE fell 0.4% to 7,193.24 In Asia China and Hong Kong shares fell on Thursday as weaker-than-expected lending data triggered liquidity concerns and weighed on sentiment. T. Rowe Price portfolio specialist Sam Ruiz says “Global equity markets continued their rally in July, but investors were drawn to China’s new regulations for the after‑school tutoring (AST) sector and the subsequent sell‑off in platform education stocks. “While this regulatory cycle may appear more severe compared with previous cycles, it is important to note that we have been here before. China’s stock market has experienced heightened regulatory tensions on several occasions during the past decade when the country tightened regulations. Yet, the strategic direction of policy is clear and has not changed. “The Chinese Government has been vocal about three key policies: anti-corruption, environmental protection and social equality. When it comes to social equality, the Government has already flagged that there are several industries it is looking at, clearly education, property and healthcare.” Asian indices CSI300 fell 0.6% to 4,984.51 points Shanghai Composite Index lost 0.2% to 3,524.74 points. Hang Seng index dropped 0.87% to 9,465.46  Japan Nikkei fell 0.2% to 28,015.02