Join our daily newsletter At The Bell to receive exclusive market insights
Records fell on US markets overnight – the Nasdaq and S&P500 both gained more than a per cent to exceed previous highs. It’s a lead in that’ll see the ASX 200 strive – yet again – for record territory, with futures suggesting it could rise about half a per cent.
The Dow Jones was also strong overnight and ‘Magnificent 7’ stocks all made gains, with Nvidia (Nasdaq:NVDA) adding 4.5 per cent; Meta (FB) 3.15 per cent, and, Amazon (AMZN) and Microsoft (MSFT) more than 1.5 per cent.
In small caps to watch when the market opens this morning…
SRG Global (ASX:SRG) has secured a $35 million contract to upgrade the wharf at Port Kembla; and, Magmatic Resources (ASX:MAG) has signed a joint venture farm in agreement with Fortescue (ASX:FMG) for its Myall Project. This makes FMG the 19.9 per cent cornerstone investor. The Myall Project in New South Wales will be explored for copper and gold.
Also today Krakatoa Resources (ASX:KTA) has released drill results from its King Tamba former Tantalum Mine in Western Australia.
The Australian Bureau of Statistics will be releasing jobs and employment data this morning.
And in commodities: Crude oil has been at US$79.27 a barrel; gold has gained another half a per cent to US$2159.37; iron ore has gained 1.3 per cent to US$117.50 and natural gas has been trading at US$1.79.
