ASX Market Open: ‘Buy-the-dip’ rally spreads from booming Wall Street all the way Down Under | Nov 6

ASX today – Australian shares are heading for a late Week 45 rebound this Thursday morning at open, with futures pointing to a +0.76% advance as traders Down Under seem happy to follow a swelling Wall Street higher.

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While Oz and the U.S. have been split in sentiment for most of the week – and especially around the RBA’s “hold” call – it seems ASX investors have decided Wall Street is having slightly more fun than they are.

The Dow and S&P 500 had both gained around +0.4% through last U.S. trade, while the Nasdaq gained nearly +0.7% on positive jobs reports.

Not everywhere was green; the Nikkei 225 dumped -2.5% overnight. But, with the RBA’s call behind us and earnings winding down, Oz is happy to trend up.

Most trader metrics have shown there was “little, to no real panic” Down Under, even as we copped several solid downswings, and with that red rush behind us, buying’s on the menu again – especially for cheap deals.

Finding them’s the trick, of course. Here’s some company news, to help.

ASX stocks to watch

Gold may have been battered recently, but traders in the space are saying there’s plenty left to run in the 2025-26 rally than what we’ve seen. Oz ETFs that track the precious metal, like “GOLD,” are still up +45% YTD.

Elsewhere, the WiseTech Global (ASX:WTC) board has told ASIC it warned White not to sell millions of dollars in stocks; the company founder had agreed at the time.

And, Carma Ltd (ASX:CMA) had a tough first day at the races, losing as much as -7.4% yesterday after its ASX float. The car retailer has slumped to $2.50/sh, but it may well have just been caught in the bourse’s W45 drop.

NAB (ASX:NAB) has its full-year results out today, while Amcor Plc (ASX:AMC) and Light and Wonder (ASX:LNW) are among the quarterly stragglers.

Zip Co (ASX:ZIP), NIB Holdings (ASX:NIB), and more have AGMs, too.

And, Oz trade data is out at 11.30am this morning.

Buck and ore

Now – in forex, the Oz dollar buys 65 U.S. cents.

Looking at commodities, all in the greenback,

Iron Ore has stayed mostly flat, at $103.55 a tonne in Singapore,

Brent Crude shaved -1.4%, to $63.54/bbl,

Gold remains a close watch; it’s selling today at $3,986 an ounce, and,

US natgas futures have lost -2.5%, to $4.23 per gigajoule.

That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.

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