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The ASX200 is set to open slightly higher, easing back after yesterday’s highs and reflecting a more cautious position on Wall Street, as investors considered the likelihood of a resolution in the US-China trade war.
The S&P 500 was 2% higher, while the Nasdaq 100 moved up 2.5%, and the Dow emerged 500 points higher. All had shifted back from previous highs after Treasury Secretary Bessent clarified the situation on tariffs: stating that President Trump has not offered to get rid of the levies on China, nor had talks with the country’s leaders begun. This made investors somewhat jittery about the possibility of this trade war being resolved anytime soon. Trump had previously claimed that tariffs would be unlikely to remain at the current 145% level, provoking a rally across equities, Treasuries, and the dollar.
On the ASX, Gold Mountain Ltd (ASX:GMN) has reported encouraging copper-gold anomalies at the Ararenda project in Brazil, based on regional stream sediment samples collected during recent exploration work.
Meanwhile, Miramar Resources Ltd (ASX:M2R) has been successful in its application for co-funding of a planned magnetic and electromagnetic survey at its Bangemall nickel-copper-PGE project under the WA government’s Exploration Incentive Scheme (EIS).
And Piedmont Lithium Inc (ASX:PLL) has received high-grade results from its 2024 drill program at the North American Lithium (NAL) mine, which is the continent’s largest producer of spodumene, and which Piedmont owns a 25% investment in, alongside Sayona Mining Ltd (ASX:SYA).
To commodities – all in US $ here: Iron ore is $100.30 on the Singapore Exchange, gold’s trading at $3309, Brent crude is $66.09 & natural gas is $3.01 a gigajoule.
One Aussie dollar is buying 63.6 US cents.
