Join our daily newsletter At The Bell to receive exclusive market insights
ASX today – Australian shares are heading higher again this morning, up +0.5% in ASX 200 futures, with this little Week 48 rally trying quite hard to defy the “dead cat bounce” moniker it was slapped with yesterday.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The bourse had charged +1% on Monday, but some were wary that it was just people trying to catch a falling knife that had plenty more to tumble.
Except – now Wall Street’s opened the week, too, it looks like green arrows might be here to stay for a few days. U.S. indexes were largely up, with the Nasdaq leading the way with a +2.7% hike. The S&P added +0.5%.
Predictions over in the States are now firmly settled on a Fed Reserve rate cut coming in December. That’s waved away much of the creeping fear that had been blanketing global markets through early November, apparently.
Not everyone’s convinced, but you can’t argue with a crowd that’s eager to keep the good times rolling. Chrissy rally it is not, but there’s a bounce. (Unless, of course, I’ve got it all totally wrong and this all actually is ol’ Santa Claus rolling in Down Under with some pressies for the first time since 2023.)
Now, with arrows pointing up, let’s look at some company news.
ASX stocks to watch
First up, Macquarie Bank (ASX:MGQ) is spending big, throwing $11.6 billion at ASX-listed logistics operator Qube. The $5.20-a-share bid would see Macquarie scoop up the company’s rail freight and warehouses.
Santos (ASX:STO) is facing more delays for its Narrabri gas project after its Federal Court appeal on a Native Title clearance was bumped to CY26.
And lithium’s rush has faltered after reports China’s CATL will be restarting its superpower Jianxiawo mine by “early December.” Market darlings like Liontown (ASX:LTR) and Pilbara (ASX:PLS) lost up to -6.5% yesterday.
Elsewhere, tech builder Black Peark Group is listed to float at 1pm this afternoon.
Web Travel (ASX:WEB) and Aspermont (ASX:ASP) have quarterlies.
Buck and ore
Now – in forex, the Oz dollar buys 64.6 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore popped +1%, to $105 a tonne in Singapore,
Brent Crude is up +1.4%, to $63.42/bbl,
Gold has restarted its CY25 rise, and is today at $4,135 an ounce, and,
US natgas futures lost -1.3%, down to $4.52 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
