By Oliver Gray
Investing.com - The ASX 200 remained little changed at 7481.4 in early trade on Monday after lifting 0.5% at the open amid a strong performance from mining stocks, while investors remained cautious as domestic coronavirus infection rates continue to accelerate. In addition, last week, US Fed Chair Jerome Powell’s remarks at the Jackson Hole Symposium calmed tapering fears and saw U.S. benchmark indices touch fresh record highs.
In coronavirus news, New South Wales tallied 1290 cases today, extending record daily infection rates hit over the weekend as health authorities push toward vaccination targets, Victoria recorded 73 cases as residents brace for further lockdown extensions as exposure sites continue to balloon, while the ACT reported 13 cases.
Among stocks, Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP) lifted 2.5%, 2.64% respectively amid a lift in commodity prices and tracking Fortescue Metals Group Ltd (ASX:FMG) higher as it surged 5.3% after reporting better than expected earnings and doubling its final dividend. Meantime, Nuix lost 7.32% after reporting earnings results that barely matched the previous year’s revenue.
Among data, market participants will be looking ahead to Australia’s second-quarter GDP release, trade balance as well as manufacturing and construction PMIs
In New Zealand, the NZX 50 moved 103.15 points or 0.79% higher to 13162.94.