One of the big problems with the ASX – or at least, one of its most common criticisms – is that it sometimes lacks its own sense of direction, often wont to simply track Wall Street. This isn’t an entirely irrational strategy, but, when there are no domestic catalysts for investors to digest it can sometimes feel a little dry.
Such is the case on Tuesday as ASX futures quite literally indicate 0% movement at around 8.40am AEDT – suggesting the local stock market is set to trade perfectly sideways intraday Tuesday.
This follows the US markets doing more or less the same overnight. The S&P500 closed down -0.06% – more or less flat – while the NASDAQ was down four tenths of a percent, if you consider the volatility the latter index is known for, you could argue that’s basically flat too.
Looking at commodities, Brent Crude climbed higher overnight to US$105/bbl – a +1.15% jump – as tensions look set to increase across both the Middle East but also Ukraine.
Trump’s recent deal to offtake millions of barrels of diesel from Russia (right ahead of the US midterm elections) has put the Russo-Ukraine war back in the spotlight; at the same time, tensions between Saudi Arabia and Yemen remain subject to a potential US intervention.
As I said last week: this week will be more of the same. Gold is actually down -3% over the last month; copper’s up +6% MoM; while lithium has fallen -16.7% overnight (at least looking at the benchmark offered by TradingEconomics.)
Looking at the most popular announcements on HotCopper ahead of the ASX opening bell on Tuesday a/a 8.45am AEDT:
Nyrada Inc has issued news of a positive feedback response from the US FDA;
Brightstar Resources has released a September 2026 update for its Goldfields Project;
Wildcat Resources has issued its quarterly cash flow report, and,
Vection Technologies has inked an A$19.5M deal that spans years.
Good luck and we’ll see you later for ASX Today.
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