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Australian traders are doubling down on Tuesday’s record close – where the bourse wrapped up at a new all-time high – to push the ASX 200 several pips above 8,600 points after open with a +0.4% jump on this Week 24 morning.
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While some may just want to get in on what could be another Aussie rally, most dovish sentiment has bloomed from U.S.-China talks, especially after Commerce Secretary Howard Lutnick declaring they’re going “really, really well.”
Interestingly, messaging from London (where the talks are taking place) seems to be that Trump’s blockbuster Liberation Day tariffs may now “never be seen.”
The S&P 500 already climbed +0.5% on that news; the Nasdaq added around the same.
Back home, analysts are watching Commonwealth Bank (ASX:CBA) after the index leader cracked a new high yesterday. The largest lender in Australia now carries a $304.57 billion valuation and is up +46% from this time last year.
Fletcher Building (ASX:FBU) has been sent offers for its construction division – an approach it will likely strongly consider as it sorts out a sweeping business review.
And, HotCopper users have been excited by West Coast Silver (ASX:WCE) before open this morning. The silver explorer has spotted shallow mineralisation in its first two drilled holes and is now teed up for a +3.2% price pop.
VBX Limited was meant to float today too, but was delayed at the eleventh hour.
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Looking at forex, the Aussie dollar buys 65.2 US cents.
To commodities, which are in the greenback,
Iron Ore has dipped another 0.4%, to $94.35 a tonne in Singapore,
Brent Crude is trading at $66.53,
Gold is trading at $3,326 per ounce, and,
US natgas futures are at $3.52 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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