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The ASX200 is set to open just under 1% higher today, reflecting Wall Street’s slight rally, as it recovered from last week’s notable losses and as investors look ahead to a potential rate cut from the Federal Reserve.
The S&P 500 rose 1.1%, breaking a five-day losing streak after suffering its worst week since early 2023. The Dow Jones was up 484 points, while the Nasdaq 100 lifted 1.3%, bolstered by the fortunes of Nvidia, which had rallied 3.5%.
In the ASX, Aruma Resources Ltd (ASX:AAJ) has reported multiple high-grade copper results and antimony at the Fiery Creek Copper project in Queensland.
Duratec Ltd (ASX:DUR) has secured a $21.8 million onshore services contract with Woodside for the King Bay Supply Base (KBSB) Wharf Refurbishment at the Port of Dampier in Western Australia, while Duratec’s 49% owned associated business DDR Australia has received a $54.7 million defence contract – the largest contract awarded to the company so far.
And Anax Metals Ltd (ASX:ANX) has joined with Artemis Resources Ltd (ASX:ARV), with the two signing a Memorandum of Understanding (MOU) to assess potential to treat Carlow Castle and other suitable Artemis copper assets at the Whim Creek processing hub in WA’s Pilbara region.
In commodities where prices are in USD, Iron Ore is fetching $91.61 per tonne in Singapore, a barrel of Brent Crude is currently worth just over $71.90, Gold is at $2,507 per ounce, and US natgas futures are fetching $2.14 per gigajoule.
In forex, the Aussie is buying just under 67 US cents.
