Market Open: ASX to open higher as gold jumps; Boss Energy, Genesis in focus

Good morning and welcome to HotCopper’s Market Open. The ASX 200 is set to open 0.6 per cent higher, tracking mixed moves on Wall Street overnight.

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The Dow gained, the S&P 500 finished flat, while the Nasdaq slipped as investors took profits in chip stocks ahead of the US Independence Day holiday. Back home, miners could outperform after gold jumped more than 2 per cent and iron ore rose nearly 1 per cent overnight.

In company news, Boss Energy met its revised production guidance and brought forward its updated feasibility study. Genesis Minerals also met annual production guidance for a third straight year and plans to lift exploration spending.

Looking ahead, New Zealand consumer confidence is the key data release, while US markets will be closed tonight for Independence Day.

Looking at the currencies, the Australian dollar is buying around 69 US cents. To commodities, iron ore is just under US$100 a tonne, Brent crude is around US$72 a barrel, and gold is above US$4,100 an ounce.

That’s the Market Open. Good luck and happy trading.

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