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Australian shares are now expected to open Week 16 as much as 0.7% higher as hopeful traders everywhere leave Donald Trump’s chaotic tariffs campaign and its historically wild market swings behind – at least, for now.
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Week 15 was, of course, one of the strangest trading weeks we’ve seen outside of complete economic collapses and global pandemics like COVID-19.
Now, maybe, we can take a breath and resume regular scheduling from today.
There are still some out-of-the-ordinary factors too though – we’re well and truly in the countdown to the 2025 Election now, with Liberal and Labor tussling over a whole fistful of political battlegrounds up to Saturday, May 3.
There is still turmoil in the U.S., with futures there pointing to a more mellow outlook after Wall Street indexes rose around 5% through last week’s rollercoaster.
In company news, Glencore brass’ visit to Australia in Week 15 has restarted whispers it and Rio Tinto (ASX:RIO) may be discussing a blockbuster merger.
In a similar vein: Dexus (ASX:DXS) is being closely watched after GPT Group (ASX:GPT) emerged as a potential team-up partner. Dexus talked to Blackstone in the past, but may have now found a second interested M&A suitor.
BlueScope Steel (ASX:BSL) is the top topic on HotCopper forums to start today after its team suggested the Whyalla steelworks needs $180M in repairs.
Up later this week – The RBA will share its April meeting minutes at 12.30pm tomorrow.
Oz employment data from March will also be available from midday Thursday.
More market news
Kowtow: “Biggest day in financial history” on Trump’s tariffs retreat
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
Looking at forex, the Aussie dollar is buying 62.8 US cents.
To commodities, which are in the greenback,
Iron Ore has stayed mostly flat, up 0.06% to $97.20 a tonne in Singapore,
Brent Crude is trading at $64.68,
Gold is trading much higher at $3,240 per ounce, and,
US natgas futures are at $3.48 per gigajoule.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
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