Market Open: Falling oil prices point to a solid ASX start today

ASX today – The ASX is expected to continue its recent positive run, with the market tipped to open higher today buoyed by falling oil prices and a strong overnight haul on Wall Street.

The positive vibe comes after the S&P/ASX 200 closed up yesterday, gaining 61.50 points or 0.68% to 9,164.60 and crossing above its 20-day moving average.

Overnight, Wall Street rose as major indices climbed, oil prices sunk and technology shares bounced back from previous losses.

Oil futures fell for two consecutive days, down almost six per cent this morning on the back of aggressive new US sanctioning threats.

The S&P was up 7,677.28 points, the Dow 30 climbed to 53,577.40 and the Nasdaq was also positive at 26,151.30 points.

Locally, Federal Resources Minister Madeleine King has applauded Prime Minister Anthony Albanese’s announcement that Western Australia’s GST share won’t change under his leadership.

Speaking on ABC radio, the Minister said the recent controversial Productivity Commission’s interim report was “so far away” from any expectations of what might be leading into a final report.

“I reacted with great surprise to what was in the interim report. There’s no kind of halfway house in that report. It was, it was all about winding back the arrangements that the Productivity Commission itself had recommended in 2018 to the government of the day.

“So, I think it’s a very important step that the Prime Minister has taken.”

On the market news front:

Digital and spatial data advisory and consulting firm Veris (ASX: VRS) has reported revenue of $102.0 million in FY26, representing growth of 4.9% on FY25.

Financing firm Wisr (ASX: WZR) delivered FY26 cash NPAT profitability exceeding guidance;

On the mining front

Perseus Mining (ASX: PRU) has updated its mineral resources and ore reserve estimate with a 40 per cent increase in proved and probable reserves;

Sandfire (ASX: SFR) has reported near-mine exploration success at its MATSA and Motheo hubs; and

Duketon Mining (ASX: DKM) has commenced drilling at the Barlee gold project.

Buck and ore

Now – in forex, the Oz dollar is buying US$0.716

Looking at commodities, all in the greenback,

Iron Ore was up 0.06 per cent to $95.40 in Singapore today,

Brent Crude was down 5.67 per cent to $86.943 per barrel,

Gold was selling at $4658.11,

US natgas futures were up 0.50 per cent to $2.7958per gigajoule.

That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.

Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.