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The ASX200 is set to open 1.18% higher, echoing the buoyant mood on Wall Street after China and the United States agreed to temporarily cut tariffs following a summit in Geneva.
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The S&P 500 jumped 3.2% higher on Monday, while the Nasdaq 100 zoomed up 4% and the Dow Jones moved up 1,160 points following the trade breakthrough, in which both sides agreed to cut tariffs – the US by up to 30% and China by up to 10% – for 90 days. The news was confirmed Treasury Secretary Scott Bessent, who described the weekend negotiations in Switzerland as “very productive”.
On the ASX, West African Resources Ltd (ASX:WAF) has announced the commencement of mining and crushing at the Kiaka gold project in Burkina Faso, Patriot Battery Metals Inc (ASX:PMT) has announced a significant upgrade at its Shaakichiuwaanaan lithium project in Quebec, and Sierra Nevada Gold Inc (ASX:SNX) has purchased the high-grade New Pass gold mine in Nevada.
To commodities – all in US $ here: Iron ore is $100 on the Singapore Exchange, gold’s trading at $3236, Brent crude is $65.03 & natural gas is $3.68 a gigajoule.
One Aussie dollar is buying 64.0 US cents.
