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ASX today – While Wall Street stumbled overnight, the ASX is tipped to start strong today buoyed by the run of positive ongoing corporate reporting and lower oil prices.
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The SPI futures have suggested an increase of around 37 points to 9,024.
Overseas, Wall Street closed mixed overnight with the S&P 500 and Nasdaq slipping slightly lower due to a tech sector concerns while the Dow Jones held strong.
Leading AI-linked and semiconductor shares dropped heavily while the main markets were closely monitoring the escalating trade friction between the US and Canada with President Donald Trump threatening to hike Canada auto tariffs to 50%.
Oil prices finally fell after two weeks of gains as investors took profits.
Meanwhile, Australia may benefit from disruption to energy flows through the Strait of Hormuz, according to Wood Mackenzie.
The research firm said some Asian NOCs and IOCs are directing capital back to the Asia-Pacific region due to the Middle-East crisis.
Wood Mackenzie’s regional experts have suggested Asia-Pacific LNG projects are being reassessed as more attractive.
Australia is the APAC region’s largest producer and exporter of LNG, frequently ranking alongside Qatar and the United States as one of the top global LNG exporters.
On the market news front:
Engineering company Monadelphous Group (ASX: MND) has reported a record revenue of $2.98 billion, an increase of 31.5 per cent on the previous period.
Cedar Woods Properties (ASX: CWP) achieved a record NPAT of $65.6 million for the 2026 financial year, up 36 per cent on the prior year and slightly above guidance.
Corazon Mining (ASX CZN) has unveiled a maiden exploration target at Two Pools;
Galilee Energy (ASX: GLL) has sidetracked the Zydeco well to unlock seven oil and gas targets; and
Yandal Resources (ASX: YRL) has confirmed a new high-grade domain at the Arrakis gold discovery.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.714
Looking at commodities, all in the greenback,
Iron Ore was up 0.14 per cent to $95.34 in Singapore today,
Brent Crude was down 3.63 per cent to $90.966 per barrel,
Gold is selling at $4652.00.
US natgas futures were down 1.05 per cent to $2.7439per gigajoule.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
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