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The ASX200 is set to rally on Friday by as much as +1% heading back towards the 9,000pts level for the XJO in what appears to be a surefire positive end to Week 42 of the year.
While investors continue to rotate out of AI stocks over in the States (and Korea), the US markets finished near best levels with the Russell 2000 smallcap index having a particularly strong evening (Australia time.)
The AUD hit a three month low yesterday when the ABS revealed unemployment has hit 4.7%; that’s because with less confidence now about a looming rate hike, currency bulls will be pulling back.
Looking around the traps on HotCopper this morning and the market at large:
Pilbara Minerals (now called PLS) has unveiled its development ambitions for its Pilgangoora asset, moving ahead with an increase in production (and a massive increase in CapEx over 2024 projections);
Smallcap explorer Alvo Minerals is kicking off maiden drilling at its Florence Project;
Alcoa has posted its latest results with profits climbing 19% though lower aluminium prices did burn the company somewhat;
Black Cat Syndicate has reported intercepting new high-grade hits as well as a new target area of interest in an area called Coyote Central, and,
Deep Yellow has revealed it cannot make a FID on its Tumas project in Namibia in Q4 2026 given “challenging equity market conditions.”
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