It’s looking like another Trump-led green day Down Under, with ASX 200 futures pointing to a 0.44% gain through Wednesday morning, up to 8,444 points.
U.S. markets reopened overnight (after a Martin Luther King Jnr. Day closure) and immediately started a modestly strong “Trump Bump 2.0” rally.
While many are cautious, no surprise tariffs on Trump’s first day saw many turn dovish.
The S&P 500 breached 6,000 points for the first time since its December downturn with a 0.9% gain; the Nasdaq composite added 0.7% and the Dow Jones was the best among the U.S. markets with a 1.1% jump up to close.
Europe was another bastion in the green after Trump’s inauguration speeches seemed to suggest it would avoid directed tariffs. The Stoxx Europe was up 0.4% through Tuesday – though caution reigned there too.
Crypto was another decent winner, with a Trump ETF emerging in the euphoria and bitcoin adding 3.2% to now sell at US$106,901 (just a little off its peak).
There was slippage in some places; 10-year U.S. yields dropped 4.58% lower.
Back home, Regal Partners (ASX:RGL) has seen its funds under management add a mighty 63.7% after a pivot in equity strategies; those gains mostly came early in 2024.
Iluka Resources (ASX:ILU) has well-cleared its guidance, lifting output by 23.7% in the December quarter. The Perth-headquartered miner saw zircon sand and in-concentrate and synthetic rutile production up by 129,400 tonnes.
Gold Mountain Limited (ASX:GMN) has scored a win at its Iguatu project this week too, uncovering nickel-copper just weeks after promising assays at the Brazil dig.
The rough cost of Endeavour Group’s (ASX:EDV) split from Woolworths (ASX:WOW) has reportedly been uncovered. The bumper liquor store spinoff allegedly cost as much as $570 million, internal documents say.
U.S. funds giant Vanguard has been declared the 2024 winner over Sydney’s Betashares when it comes to ETF earnings – it made nearly AU$10 billion through the year.
Looking at forex, the Aussie dollar is buying 62.7 US cents.
To commodities, which are in the greenback,
Iron Ore has lifted nearly 1% to $104.80 a tonne in Singapore,
Brent Crude is trading at $79.43,
Gold is trading at $2,748 per ounce, and,
US natgas futures are at $3.77 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.