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The ASX 200 index is expected to open as much as 0.36% higher today, adding 29.9 points in futures, which would mark the local bourse’s fourth green day in a row – a trend it just barely held on to yesterday at close.
U.S. markets were certainly mixed overnight as President-elect Donald Trump – who was just hours ago certified as 2024’s election winner – came out swinging against a report from the Washington Post that suggested a narrower tariff plan had been tabled in his war room and was still being heavily considered by his team.
Concerns around that reported (and then refuted) plan saw Wall Street investors ship off their 30-year Treasury bonds, pushing its yield to a 13-month high.
In stock moves specifically, technology heavyweights locked in enough gains to push the Nasdaq composite 1.2% higher; the S&P 500 added 0.6%.
Only the Dow Jones, down 0.1%, lost ground through Monday’s trade in the U.S.
The Canadian dollar has also firmed against the US after Prime Minister Justin Trudeau left his role after nearly a decade leading the country.
Back home, Aussie iron ore producers are in for another rough ride through this Tuesday morning (many were heavily hit during Monday trade) after iron ore prices on the Singapore exchange sagged to US$97 a tonne.
Yesterday’s biggest laggards included Fortescue (ASX:FMG), BHP (ASX:BHP), and Rio Tinto (ASX:RIO), which each lost around 2%; there could be similar losses today.
Dimerix Limited (ASX:DXB) may head the other way after scribing an AU$214 million deal with Japanese manufacturer Fuso that will see Dimerix’s DMX-200 developed, registered, and commercialised in Japan.
GenusPlus Group (ASX:GNP) has completed its Geographe Tree Services acquisition after the vegetation management pickup originally got rolling in November.
HotCopper forum users have also earmarked West Cobar Metals (ASX:WC1) as one to watch closely today after the rare earths and battery minerals explorer landed “outstanding” first-pass float testwork results at Bulla Park.
Looking at forex, the Aussie dollar is buying 62.4 US cents – it did briefly touch 63c overnight amid the Trump tariff concerns before retreating.
To commodities, which are in the greenback,
Iron Ore shaved another 1.2% to $97 a tonne in Singapore,
Brent Crude is trading at $76.28,
Gold is trading at $2,643 per ounce, and,
US natgas futures have yo-yoed up 10% to sell at $3.69 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
