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Futures say Australian shares will rise as much as 0.8% this Thursday morning, with a big jump at open likely to push the ASX 200 close to 7,900 points.
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Much of Thursday’s hike comes after Wall Street moved upwards on the Federal Reserve’s rates call today: The U.S. central bank kept rates unchanged at 4.25% but suggested there’d be at least two more trims this calendar year.
The S&P 500 duly added +1.1% in response and the Nasdaq had that beat, up +1.4%.
There was a kicker – the Fed noted there’s increasing “uncertainty around the economic outlook” as Trump bounces from plan to plan on his tariffs campaign.
Overall though, everything through Week 12 has helped allay traders’ fears after a brutal downswing through the last fortnight and markets seem more interested in buying into cheap deals than holding cash right now.
Back home: Genesis Energy (ASX:GNE) is on the hunt for a new director and board member after long-serving Paul Zealand stepped down over health concerns.
WiseTech Global (ASX:WTC) is also starting to feel the pinch from super-sized superannuation funds this week, with some demanding “genuinely independent” directors as well as a whole lot more transparency from the software company.
Cleanaway Waste Management (ASX:CWY) has quickly become a hotly-watched stock on HotCopper forums this morning after it picked up a Victoria-based specialist services group, Contract Resources, for $377 million.
Also in buy-ins, pub baron Bruce Mathieson has called for struggling casino operator Star Entertainment (ASX:SGR) to take Bally’s Corp’s $250M capital offer.
Bain and GIC have also been selling Judo Capital (ASX:JDO) shares; as many as 110 million.
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Looking at forex, the Aussie dollar is buying 63.5 US cents.
To commodities, which are in the greenback,
Iron Ore has dipped 1.7% to $100.40 a tonne in Singapore,
Brent Crude is trading at $70.86,
Gold is still trading above $3,065 per ounce, and,
US natgas futures are at $4.21 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
