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The ASX looks set to end a four-day losing streak, with Australian shares tipped to rise +0.57% at open as the bourse follows Wall Street’s broad advance, mostly led by Nvidia becoming the first-ever $4 trillion company.
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Nvidia’s unstoppable climb – which even battled past a $948B crash in January – has pulled U.S. traders in its wake. The Nasdaq led the way, +0.94% higher.
The gains came in defiance to Trump’s seemingly endless tariff releases, which have been ignored more and more these past weeks. The U.S. President declared he would levy 30% rates on Algeria, Iraq, Sri Lanka, and Libya.
Twenty to 25% tariffs on Brunei, Moldova, and the Philippines were also mooted.
And, Brazil is staring down 50% tariffs – but again, many aren’t paying attention any more.
Back home, the IPO bull rush continues with Stepchange Holdings’ Week 28 debut. The software company will ring the bell at midday as it chases $14 million. Shares will be under ticker code “STH” and start at 20c each.
Telstra (ASX:TLS) is a watch on Thursday, too. The country’s largest telco will be chopping more than 500 jobs as it looks to bump returns and lower costs.
Over on the HotCopper forums, Black Cat Syndicate (ASX:BC8) shapes emerged as an early topic on the miner’s plans to increase the size of the greater Paulsens Project by expanding the Big Sarah prospect by 460sqkm.
And, Hammer Metals (ASX:HMX) has landed a windfall at its Bullrush joint venture. The explorer detected a “favourable” IOCG alteration system at the dig.
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Looking at forex, the Aussie dollar buys 65.3 US cents.
And to commodities, all in the greenback,
Iron Ore has been relatively flat on Thursday, at $95.85 a tonne in Singapore,
Brent Crude is at $70.05,
Gold is at $3,322 per ounce, and,
US natgas futures are another -4.58% lower, at $3.19 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre, good luck and happy trading.
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