ASX today – Australian shares are heading for a mid-week advance, with ASX 200 futures suggesting a +0.2% rise is on the cards for open. Much of the early Oz hope stems from Wall Street’s gains, themselves from U.S. investors having chosen optimism over caution when it comes to inflation and rate cut chances.
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Some have been energised by bitcoin’s revival, too: The famed cryptocurrency is back above US$90,000 again after a heavy fall from its six-digit heights.
Back home, Aussie GDP figures are going to be a major mover for the markets. That data, to be shared at 11.30am, is expected to come in at a three-year high, at around 0.7%, after business investment kept compounding.
And all eyes will be on the Aus gov’t and its national AI plan. The newly unveiled strategy has dismantled many of the expected “mandatory guardrails” that had originally been included to protect from AI harms.
Now, let’s take a look at some company news.
ASX stocks to watch
First up, Woolworths (ASX:WOW) is expected to answer accusations it’s been creating “poor doors” in affordable housing development to dodge building requirements. The idea is these doors funnel in customers.
And, the Federal Court is mulling harsher fines on ANZ Group (ASX:ANZ) for its alleged misconduct at its retail banks and for misreporting some bond trading.
Elsewhere, it’s happy days for chicken kings Collins Foods (ASX:CKF), with the KFC operator saying its highlight products like the Zinger Bahn Mi and Kebab have led growth. Collins has seen revenue up at a record $750 million.
WiseTech Global (ASX:WTC) will hit headlines through its investor day, too. One big topic will be Richard White’s $240M stock sale in September.
No more quarterlies this week, though, with the bulk behind us.
Buck and ore
Now – in forex, the Oz dollar buys 65.6 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore has crept another +0.1% higher, to $103.70 a tonne in Singapore,
Brent Crude slumped -1.1%, to $62.44/bbl,
Gold is at $4,214 an ounce, and,
US natgas futures are down -1.8%, to $4.83 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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