Good Morning and welcome to HotCopper‘s Market Open for Friday, I’m Jon Davidson and if ASX futures are anything to go by, the market is set for flattish gains on Friday with futures up eight tenths of a percent just over an hour out from trade.
If we close green today it would be good tidings, given that we’ve ended red for most of this week as the Iran War sends oil prices higher, and, as Australia misses out on an AI rally.
Correction: The ASX ended green on Thursday! My mistake – Author
Not so in the US, where speaking of AI rallies, the S&P 500 hit a fresh record high once again overnight; the Dow returned to record levels and big promising news from big promising tech companies also juiced the NASDAQ.
In the background, of course, Donald Trump is in China right now along with a suite of US CEOs; it appears a fresh wave of optimism that the US and China might cool down trade war talk is spurring hopes, perhaps most evident in the performance of Australian rare earth stocks on Thursday which didn’t have a great day.
Looking around the traps, ahead of Friday trades we’ve learned that MinRes founder Chris Ellison has sold $120 million worth of shares; beyond that, not much in big name action happening.
As for the Aussie, the AUD continues to hover around 72c against the greenback. Looking at commodities which are in the greenback:
Gold is fetching $4,660 an ounce,
Brent Crude remains high at US$106 a barrel,
Iron Ore fetching US$110 a tonne in Singapore, and,
Copper futures are fetching around US$6.50 a pound.
That’s the Market Open for Friday, I’m Jon Davidson, have a great day and good luck ahead of the weekend.
Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.