S&P/ASX 200 (INDEXASX:XJO) is on track to snap its consecutive run of green days after the market opened flat but lost over 40 points during the morning session.
The S&P 500 Index (INDEXSP:.INX) was up 0.21% and the Nasdaq Composite (INDEXNASDAQ:.IXIC) was up 0.60% last night but it wasn’t enough to spur an eighth positive day.
Syrah squeezing the shorts, or at least trying to
This time last year, the stock's share price was over $3.00 and its short base was over 30%.
Since then the short base has decreased to around 17%, although this still has it has one of the top shorted stocks on the ASX.
Syrah Resources $SYR has produced 48kt of #graphite in 1Q19 at its Balama operation, beating the company's own guidance. SYR also sold at an average price of $469/t #ausbiz #mining pic.twitter.com/SyE1FHWg6F— CommSec (@CommSec) April 3, 2019
Iron ore miners cooling off
Fortescue is down the most, off 2% to $7.63, however, the stock was $6.50 at the beginning of last week.
US markets enjoy another positive session