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Australian shares are today rebounding slightly, climbing around 0.5% – according to early ASX 200 futures – as the bourse recalibrates after Week 15’s bloody Monday.
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The Oz index yesterday suffered a one-day loss not seen since May 2020, so it would’ve been no surprise if traders were feeling a little shellshocked today.
There seems to be some appetite for buying though, with this expected 40-point gain.
Whether things change is still up in the air – Trump’s tariffs blitz, which was called a “clown show” by pundits overnight, will continue as long as the U.S. President feels like he’s on the right course. Right now, he says he is.
All in all, it’s not looking too bad on this Tuesday though, especially considering how Monday played out; the Nasdaq stayed flat while the S&P 500 is down just -0.2%.
Back home, Star Entertainment (ASX:SGR) has today signed a $300 million deal with Bally’s, a U.S. gaming giant that has been circling the embattled casino operator for some weeks. For now, the Star remains suspended from trade.
Endeavour Group (ASX:EDV) is cutting some staff to save costs as chairman-slash-acting CEO Ari Mervis looks to keep shareholders happy as stock value falls.
Deep Yellow (ASX:DYL) will be a hot topic on the HotCopper forums today after further staged developments at the explorer’s flagship Tumas Project in Namibia; this includes plant construction work and future de-risking.
HotCopper users are also watching Zip Co (ASX:ZIP) after it unveiled a buyback plan.
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Looking at forex, the Aussie dollar is buying 59.9 US cents.
To commodities, which are in the greenback,
Iron Ore has dropped another 2.4% to $98 a tonne in Singapore,
Brent Crude is trading at $64.63,
Gold is trading just above $3,000 per ounce, and,
US natgas futures are at $3.64 per gigajoule.
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