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The ASX 200 is tipped to stay all but flat today, dropping just 0.03% after Wall Street turned around last week’s red end to keep trucking on its Donald Trump-led hype.
Winners from Trump’s victory continue to be the flavor of the markets more than a week later, with Tesla carrying the Nasdaq composite 0.7% higher on news Trump wants a federal framework for self-driving vehicles.
In the same note, Trump naming Liberty Energy CEO Chris Wright as his Secretary of Energy boosted LBRT by 4.9% – and kept the Dow Jones mostly flat.
Back home, we’ll get our hands on the RBA minutes at 11.30am Sydney time.
Though most eyes will be on the minutes, Aussie investor sentiment is there likely won’t be any cuts until at least May mid next year – a widespread prediction that suggests today’s release won’t really move markets.
Elsewhere, KMD Brands (ASX:KMD) has been hit by a sales decline; the Rip Curl and Kathmandu owner is still quite cautious about customer spending.
The ACCC has also started an informal review into TPG Telecom (ASX:TPG) and its $5.25 billion fibre assets sale to Vocus Group Ltd (ASX:VOC). The competition regulator will needle in on the proposed sale’s competitive impact.
This quarter’s headline grabber Mineral Resources (ASX:MIN) has told shareholders it plans to move company secretary Jenna Mazza into a “specialist legal counsel role” ahead of its annual general meeting this Thursday.
BlueScope Steel (ASX:BSL), Sonic Healthcare (ASX:SHL), and Seek (ASX:SEK) all lead a busy run of AGMs today too. Santos (ASX:STO) also has an investor briefing.
Looking at forex, the Aussie dollar is buying 65 US cents.
To commodities, which are in the greenback,
Iron Ore is $101.63 a tonne in Singapore,
Brent Crude has climbed 3.28% to now trade at $73.39,
Gold is up 1.87% at $2,610 per ounce, and,
US natgas futures are at $2.95 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
