The ASX 200 is expected to rise as much a 0.35% at open, with a looming Santa rally in December now a chance to push the Aussie market well beyond all-time highs.
The year-end optimism Down Under comes after a bumpy Trump-led week on Wall Street where his Treasury Secretary pick – Scott Bessent – was paired with dives as the President-elect spruiked tariffs for Mexico, China, and more.
U.S. markets powered to all time highs on Friday, even through its Thanksgiving break, with the S&P 500 leading the charge in a half-day of trading. That benchmark managed its best month of the year with a 5.7% bump in November; the ASX 200, by comparison, logged a still-solid 3.4% jump through the last 30 days.
Iron ore has also moved higher in Week 49, boosted by suggestions Beijing may yet unveil more fiscal stimulus to combat Trump’s threatened trade tariffs.
Back home, companies can now raise capital directly through HotCopper thanks to Dealroom, which launched on December 2. The “groundbreaking” new system lets retail investors participate in capital raising transactions directly with ASX companies.
Northern Star (ASX:NST) has made major moves to start the week, with the gold giant moving to buy De Grey Mining (ASX:DEG) – and the huge undeveloped gold assets it controls here in Australia – in an all-scrip deal worth $5 billion.
Australia’s October retail data is also due out today, at 11.30am in Sydney. Expectations are for improvements, despite Black Friday pulling sales into November.
IGA wholesaler Metcash (ASX:MTS) is also teed up to share its half-year results today.
On the HotCopper forums, First Graphene’s (ASX:FGR) expansion into China and Vietnam has drawn eyes early in the week. Others are also watching Labyrinth Resources (ASX:LRL) after the WA gold miner completed its Mulwarrie acquisition.
Looking at forex, the Aussie dollar is buying 65.1 US cents.
To commodities, which are in the greenback,
Iron Ore has lifted 0.3%, to $102.44 a tonne in Singapore,
Brent Crude is trading at $72.38,
Gold is trading at $2,657 per ounce, and,
US natgas futures are at $3.33 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.