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Expect somewhat of a rebound when Australian shares start trading today, with early morning ASX 200 futures suggesting we’ll see a 0.29% recovery at opening bell.
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While it’s impossible to predict exactly what markets may do perfectly, a red rush down price-wise would always lead into what we’ve got on our hands today – a spending spree by the more adventurous investors among us.
Those bullish traders leaped at what they may see as “cheap deals” after U.S. consumer prices landed at a slower pace than originally expected; some talk has already fired up that the Federal Reserve may cut again after the Wednesday data release.
The S&P 500 recovered 0.5% after its slide, while the Nasdaq surged 1.2% higher.
Back home, we have our own economic data that may point Oz investors one way or another: Consumer inflation expectations will be out at 11am while RBA Assistant Governor Brad Jones will speak on a panel at 1.30pm in Sydney.
How much that will move Aussie markets remains to be seen – and whether this morning’s spending spree even carries to close will be the big question today.
In company news, Ora Banda Mining (ASX:OBM) has landed “outstanding” exploration results at Little Gem, where its five-hole diamond program hit hefty lodes.
Sarytogan Graphite (ASX:SGA) is adding two further water wells at its graphite dig in Kazakhstan in a “key derisking step” for the smallcap miner.
Elsewhere, FMR Resources (ASX:FMR) has updated shareholders on its new high-grade copper project in New Brunswick; the New South Wales miner has staked the site and is getting to work on further goshen copper drilling.
Also to watch – Boss Energy (ASX:BOE) has picked up 23.5M Laramide (ASX:LAM) shares.
In a wider view too, Albanese hit back at Trump’s steel and aluminium crackdown as “entirely unjustified” as he continues searching for a solution with U.S powerbrokers.
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Looking at forex, the Aussie dollar is buying 63.1 US cents.
To commodities, which are in the greenback,
Iron Ore has floated around the same price, $100.60 a tonne in Singapore,
Gold is creeping towards the $3K mark at $2,953 per ounce,
Brent Crude is trading at $70.92, and,
US natgas futures slumped 9%, to $4.03 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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