Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 is set to rise by +0.80% on Friday following a lacklustre week for the bourse.
The USA’s latest GDP growth data for Q1 came in overnight cooler than expected.
The United States logged growth of 1.3% in the first three months, down from earlier initial estimates of 1.6%.
Ultimately, the market is taking the data as evidence of a cooling economy and slowing inflation.
That, in turn, suggests rate cuts could easily happen in 2024.
Looking at ASX companies, Telix Pharmaceuticals (ASX:TLX) has released an update on its prostate cancer imaging trials.
The company has highlighted positive data on the capability of its product to increase detection rates while being less radioactive.
Meanwhile, Talga Group (ASX:TLG) has released an interim scoping study for the company’s Vittangi graphite project.
The Sweden-based battery metal play sees itself producing anode battery materials at a rate of 425,000 tonnes per annum at nameplate capacity.
In junior miners, Voltaic Resources (ASX:VSR) has highlighted a recent discovery at the Meekatharra project in WA.
The company’s geological team have discovered copper-gold rockchips on-site with those finds classified as part of the Burnakura Shear Zone.
In forex, the Aussie has fallen slightly, back to 66 cents per US dollar.
In commodities, gold is up 0.21% to US$2,343/oz, silver dipped -2.62% overnight to US$31.18/oz, copper also fell -2.66% to US$4.66/lb, and, brent crude dipped -2.18% to US$81.77/bbl.
That’s market open, we’ll be with you later in the trading day.
