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ASX today – With the Reserve Bank expected to make a ‘hold’ call today, Australian shares are heading towards another dip. The decision won’t be unveiled until 2.30pm in Sydney, but it’s going to be red arrows until then.
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No surprise, though: Week 50 started red, then major U.S. indexes dipped overnight (as much as -0.4% lower) to add to that retreat this morning.
More importantly than the ‘hold’ call – this Market Link journo would argue a halt is already priced in – will be RBA governor Michele Bullock’s address an hour after. That should give us the best clues about where CY26 may head; some are already expecting at least one increase through the next year.
Other Aussie data today may shift the Week 50 dial a little, too, and impact any RBA stances, like the NAB business survey and gov’t housing approvals. Then, of course, there’s the Fed Reserve rate call in the U.S. on Thursday.
Much still to come – but before all that, here’s today’s company news.
ASX stocks to watch
First up, lithium remains a hot watch as we ease towards Christmas. Stocks like Liontown (ASX:LTR) and PLS Group (ASX:PLS) – renamed from “Pilbara Minerals” this week – have led the revival there, up as much as +48% this month.
CSL Ltd (ASX:CSL) may take another dent today, too; national auditors have said a vaccine deal between Seqirus and the biotech giant “lacks value for money.”
Elsewhere, Telstra (ASX:TLS), TPG Telecom (ASX:TPG), and Samsung’s chiefs are due in Canberra today, to face the Senate regarding “phones of death” and how the widespread issue can be resolved safely.
Brightstar Resources (ASX:BTR) has raked in standout intercepts at the Bull Oak and Havilah deposits at Sandstone this week, as the explorer continues to test under the Mineral Resource there for possible extensions.
And, Summit (ASX:SUM) is acquiring Keystone, an old Nevada silver, gold, and tungsten mine that boasts 36,000oz gold and 64oz silver production.
Buck and ore
Now – in forex, the Oz dollar buys 66.2 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore has dropped another -1.5%, to $101.90 a tonne in Singapore,
Brent Crude is down -2%, to $62.44/bbl,
Gold is at $4,195 an ounce, and,
US natgas futures have dumped -8%, to $4.85 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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