Australian Market Slightly Lower

(RTTNews) - The Australian market is trading slightly lower on Thursday, snapping a three session winning streak, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 9,050 level, with weakness in gold miners partially offset by gains in financial stocks and a mixed performance across most other sectors.

The benchmark S&P/ASX 200 Index is losing 12.80 points or 0.14 percent to 9,025.80, after hitting a low of 9,008.30 earlier. The broader All Ordinaries Index is down 15.40 points or 0.17 percent to 9,184.30. Australian stocks ended significantly higher on Wednesday.

Among major miners, BHP Group is losing almost 1 percent and Fortescue is edging down 0.4 percent, while Mineral Resources is advancing more than 2 percent and Rio Tinto is gaining almost 1 percent.

Oil stocks are mostly higher. Woodside Energy is gaining almost 1 percent, while Beach energy and Santos are edging up 0.2 to 0.4 percent each. Origin Energy is edging down 0.4 percent.

In the tech space, Afterpay owner Block is edging down 0.2 percent and Zip is slipping more than 4 percent, while WiseTech Global is surging almost 5 percent, Xero is edging up 0.2 percent and Appen is soaring more than 11 percent.

Among the big four banks, ANZ Banking and Commonwealth Bank are edging up 0.3 percent each, while Westpac is gaining more than 1 percent and National Australia Bank is adding almost 1 percent.

Among gold miners, Newmont, Genesis Minerals and Evolution Mining are down almost 1 percent each, while Northern Star Resources is losing more than 1 percent and Resolute Mining is declining more than 2 percent.

In other news, shares in Domino's Pizza are surging almost 9 percent after the fast food company's profit came in higher than expected, and reiterating that its underlying net profit is expected to come in as forecast.

Shares in IperionX are sliding almost 8 percent despite growing titanium production capacity and advancing its Titan-Atlas resources in the June quarter, bolstered by strong government and customer support.

In the currency market, the Aussie dollar is trading at $0.696 on Thursday.

On Wall Street, stocks showed a significant recovery over the course of the afternoon before seeing substantial volatility late in the day after tumbling early in the session on Wednesday. The Nasdaq and S&P 500 reached positive territory going into the final hour of trading only to nosedive going into the end of the session.

The major averages all finished the day sharply lower, just off their worst levels. The Dow plunged 1,153.18 points or 2.2 percent to 51,594.14, the Nasdaq tumbled 433.97 points or 1.7 percent to 24,442.94 and the S&P 500 slumped 112.63 points or 1.5 percent to 7,316.15.

Meanwhile, the major European markets ended the day mixed. While the U.K.'s FTSE 100 Index rose 0.3 percent, the German DAX Index closed just below the unchanged line and the French CAC 40 Index slid by 0.6 percent.

Crude oil prices skyrocketed on Wednesday after Iran launched surprise attacks on U.S. bases in Jordan. West Texas Intermediate crude for September delivery was up $5.55 or 7.00 percent at $84.81 per barrel.