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Australian shares look to leave port heading into Friday with an expected +0.2% rise, with FY26’s opening trading week dominated by the S&P 500 and Nasdaq Composite resetting their closing highs several times already.
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The S&P 500 has bowled over several top finishes already in Week 27, posting record highs in four of the last five sessions – and with the day wrapped up on Wall Street for short Independence Day trade, it’s done it again.
All eyes now sit on the leading U.S. index’s 6,300 level and whether it, too, pops.
One thing that may keep traders hesitant is the Trump vs. Powell pow-wow; the Fed Reserve is leading to a hold on stronger jobs data, and Trump definitely isn’t happy.
He this week declared Powell should “resign immediately” – and U.S. investors flocked to 10-year bond yields in reply. They’re now up near 4.34% today.
In similar news, Trump’s “big beautiful bill” has narrowly passed in Congress.
Qantas (ASX:QAN) and Domino’s Pizza (ASX:DMP) continue to claim top headlines Down Under heading into Week 27’s last day, too, with Qantas pledging to “strengthen” its security after Monday’s scammer cyberattack.
Meanwhile, Domino’s, down -10% this week, has found its Van Dyck replacement in Jack Cowin; the 82-year-old billionaire will step up as CEO immediately.
And, Contact Energy (ASX:CEN) has signed a 7-year supply deal with Greymouth Gas.
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Looking at forex, the Aussie dollar is 65.7 US cents.
And to commodities, all in the greenback,
Iron Ore has continued its reverse, selling 1.4% higher at $96.55 a tonne in Singapore,
Brent Crude is at $68.84,
Gold is at $3,327 per ounce, and,
US natgas futures are another 2.3% lower at $3.40 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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