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The ASX 200, much like Wall Street overnight, is expected to power through newly flared-up Trump tariff concerns to lift today with the market already up 0.41% in futures.
U.S. markets shrugged off the President-elect’s pledge to impose major tariffs on the country’s three biggest trading partners, Mexico, Canada, and China; the S&P 500 (now up 0.3%) and the Dow Jones (up 0.1%) even clocked session highs.
Meanwhile, treasury yields saw a modest rise to recover yesterday’s big drop.
China’s markets went the other way: Shanghai dipped 0.1% while Hong Kong stayed flat.
The situation in Israel continues to move markets too, with Prime Minister Benjamin Netanyahu overnight declaring he’s ready to implement an impending ceasefire deal with Lebanon – though he’s still also ready to “respond forcefully to any violation” by Hezbollah should things fail to go smoothly.
Back home, all eyes are on 11.30am Sydney time on the clocks when the ABS releases monthly CPI data. The year-ended rate is being tipped to stay low at 2.1%. This will be paired with the RBNZ likely cutting rates by 50 basis points at midday.
Virgin Australia (ASX:VAH) has had a big win as it seeks to lease aircraft and crew from Qatar Airways for long-haul flights with the ACCC expected to green light the team-up.
Ramsay Health Care (ASX:RHC) has also refused a sale of its offshore assets despite mounting pressure from heavyweight shareholders worried about losses.
There are several AGMs already being talked about on HotCopper too, including Core Lithium (ASX:CXO), HMC Capital (ASX:HMC), Harvey Norman (ASX:HVN), Liontown Resources (ASX:LTR), and Lynas Rare Earths (ASX:LYC).
Dreadnought Resources (ASX:DRE) has chins wagging on the same forums after the Star of Mangaroon offered up high-grade finds that lean towards “commercialisation.”
Looking at forex, the Aussie dollar continues to sag and is now buying 64.6 US cents.
To commodities, which are in the greenback,
Iron Ore has stayed flat at $102.10 a tonne in Singapore,
Brent Crude is trading at $72.70,
Gold is trading at $2,632 per ounce, and,
US natgas futures are at $3.47 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
