Australian shares have decided to wait until the very last day of Week 37 to fall in line with Wall Street’s bullish trends, with ASX 200 futures now up +0.64% heading into Friday on even more State-side records.
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The S&P 500, up +0.8%, as well as the Dow Jones, up a roaring +1.4%, and the Nasdaq composite, which gained +0.7%, all clocked up new highs.
(London’s been ticking higher too, posting a +0.7% close after its trade.)
All this came after a weak jobs report, which has now turned even the most bearish American traders into Fed Reserve rate cut believers.
It may not be enough to save the ASX from a weekly loss, but Oz shares are trying their darndest to eek into the green – there’s a -0.65% loss from Monday to today it will have to wipe away to return net positive.
ASX stocks to watch
Now, to company news – Origin Energy (ASX:ORG)-back Navigator North has put its $8 billion Victorian offshore wind farm plans on ice. Staff have been let go today at the Gippsland locale after “changed priorities.”
Elsewhere, the duel between Lendlease (ASX:LLC), which manages Hostplus, and Mirvac (ASX:MGR), the apparent heir to the Hostplus throne, is hitting boiling point – a vote over the swap is happening next week.
And, Nine Entertainment (ASX:NEC) heads into Friday battered and bruised after losing -36% yesterday. The dive came after Nine shared a special 49c dividend for investors after the Domain sale went through.
On the HotCopper forums, Golden Deeps (ASX:GED) is the big watch of the morning on news it dug up further rich copper mineralisation at Graceland.
So too Desoto (ASX:DES), after it spotted new gold zones at Tole and Dadjan.
Buck and ore
In forex, the Aussie buck’s a lofty 66.6c to the US dollar.
And over in commodities, all in the greenback,
Gold is the watch of the week: It’s already surged +5% this month and just eclipsed an inflation-adjusted peak set way back in 1980. Prices then were $850; today, the precious metal’s fetching $3,640,
Iron Ore has pulled back -1.29%, to $104.45 a tonne in Singapore,
Brent Crude is down at $66.29, and,
US natgas futures have dumped -3.5%, to now sell at $2.92 per gigajoule,
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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