US stocks reversed most of earlier losses to consolidate the previous sessions gains, Nvidia +2% extending its run into record territory dragged the semiconductor sector with it to even for the session. Tesla -2.5% continued its slide with data showing a 44% decline in average prices from the peak Precious metals continued to slide GDX -2% Oil futures rebounded 1.7% and natural gas UNG +7% continues to show real strength Uranium was the standout performer overnight with URNM +4.8% LIT ETF -2%
Locally PAN administators confirmed a badly kept secret that ASX nickel stocks are in deep trouble when it suspended operations with upto340jobs to go. BHP Nickel West boss Jessica Farrell said uncertainty had swept through the industry here. IGO has conceded it may have to write off the $1.3b it paid for Western Areas
AWC however jumped 7% after confirming it was shutting its oldest refinery in Perth with 750 jobs citing rising costs
