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Another day, another record high on Wall Street spurred on by trade deals, and it looks like Australian shares are tracking to follow suit: ASX 200 futures are up +0.5% this morning, heading into Week 30’s hump day.
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There’s an air of optimism in the U.S. around Trump’s trade talks, even as the new, new tariffs deadline – Friday, August 1 – slowly creeps up on the calendar.
Also helping is the fact Fed chair Powell seems to have survived Trump’s attentions.
Down Under, we have similar central bank headwinds helping us on to an expected 40-plus point bump, with the RBA making the extraordinary decision to share its voting numbers following July’s shock “hold” call.
The vote, which came out 6–3, was described in more detail, and Australian traders have seemed to like what they found in the thick Tuesday report.
Most now hope August’s moot will lead to another trim – more likely by the day.
Watch: Resolution appoints industry experts to fast-track U.S. strategy
Plenty happening in company news in Australia too, with all eyes on Commonwealth Bank (ASX:CBA) after our “MagOne” stock was down -3.1% yesterday.
Vulcan Energy (ASX:VUL) has landed two grants, together totalling €104 million, to support the production of battery cells for European electric vehicles. The windfall deal came through a scheme run by the European Union.
Iluka (ASX:ILU), Woodside (ASX:WDS), and Paladin (ASX:PDN) have quarterly reports today.
More market news
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
‘TACO’ in action: Trump has turned into boy who cried tariffs
Looking at forex, the Aussie dollar buys 65.5 US cents.
To commodities, which are all in the greenback,
Iron Ore has climbed another +2%, to $105.65 a tonne in Singapore,
Brent Crude is at $68.72,
Gold is at $3,441 per ounce, and,
US natgas futures are down -2%, to $3.25 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
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