Market Open: Fewer US strikes, more Wall Street hype sets Oz up for green end to FY26

At The Bell — Australian shares will open the last day of the financial year up +0.2%, buoyed on Tuesday by U.S.-Iran peace posturing (we’ll see where that really leads) and an excitement on Wall Street, all focused on the tech buzz.

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The Nasdaq has, unsurprisingly, been the biggest gainer over in the States; the tech-heavy index added +2%, while the S&P 500 followed, +1.2% higher. The Dow Jones stood tallest in Wall Street headlines overnight, though, after Google’s parent company Alphabet entered the exclusive 30-stock index in Week 27.

It’s fascinating to watch the tech buzz build and build, even as some begin to question whether AI is really the future. I suppose if it’s green, it works.

On the Middle East front, more ships have been spotted in the Strait of Hormuz, and things seem to be calming down somewhat. Bad news for Brent, of course, with all that expectation for peace dumping it -16%.

Back home, Sydney’s auction clearance rate is at its lowest since CY20, while Melbourne is down to levels last seen during COVID-19 lockdowns.

The RBA is sharing its June meeting minutes at 11.30AM today, as well.

ASX stocks to watch

In equities, Greatland Resources (ASX:GGP) says its flagship mines in Western Australia contain 62% more gold than previously estimated. Between the company’s two mines, Telfer and nearby Havieron in the Great Sandy Desert, there’s as much as five million ounces of gold, and 196,000 tonnes copper.

Also in gold, Lunnon Metals (ASX:LM8) is re-reviewing the timeline for its Hustler mine after successfully de-risking the Foster Baker prospect with infill drilling.

Elsewhere, Ramsay Health Care (ASX:RHC) has been granted special access to a Queensland public emergency department under an under-trial scheme that allows it to transfer privately insured patients to nearby facilities.

Galilee Energy (ASX:GLL) is running final pre-spud checks after setting up RFC Drilling Rig 103 at the Zydeco Prospect in Acadia Parish, Louisiana.

Plus, Atlas Arteria (ASX:ALX) has again rejected an IFM Investors takeover bid.

Buck and ore

In forex, the Oz dollar is buying US 68.8c today,

Then to commodities, all in the greenback,

Brent Crude was demolished today, -16% to $60.10/barrel,

Iron Ore has been just barely up again, today selling at $98.85 a tonne in Singapore,

Gold softer, $4,020/ounce, and,

US natgas futures down, $3.16 per gigajoule.

That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.

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