At The Bell — Australian shares are heading straight into boomtown this Friday, some +1.2% higher in ASX 200 futures after an historic Microsoft rally pushed the Nasdaq composite – and then global equities – into rich green territory.
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The Mag 7 member shared its quarterly update on Thursday (U.S. time), and nearly immediately added US$450 billion to its market cap after reporting overall revenue hit US$90B and profits beat forecasts too. That +15% is the biggest intraday jump ever seen in Wall Street stocks, Bloomberg says.
Unsurprisingly, that stretched tech everywhere in the U.S. and sent the Nasdaq rocketing +2.78%. The S&P and Dow Jones were over +1%, too.
Should this 100-point explosion we’re expecting at 10AM plays out, the Aussie bourse should blitz past 9,050 and stabilise there. Whether it means the local share market can stay there still remains to be seen, of course.
We get ANZ’s consumer confidence for July this morning as well.
ASX stocks to watch
In stocks, BHP (ASX:BHP) is facing major stoppages in the Pilbara, with workers at the Port Hedland operation planning to take protected industrial action next week, including a 24-hour ban on loading ships and a work stoppage.
Elsewhere, Slater & Gordon has today filed a class action lawsuit against Web Travel Group (ASX:WEB) over alleged “misleading earnings margin guidance and failure to comply with continuous disclosure obligations.”
HSBC Australia has sold its home and personal loan portfolio to New York-based global alternative asset management giant Blackstone for $36B.
Monadelphous (ASX:MND) has won a $165M contract with Rio Tinto (ASX:RIO) for infrastructure works at Brockman Syncline in the Pilbara. The contract relates to the design of a heavy equipment workshop, washdown facilities, tyre changes, and fuel storage and refuelling infrastructure.
Fortescue (ASX:FMG) is one of the bigger names sharing its June production report on Friday morning; its FY26 update is also due August 24.
And Alurion Resources floats today at $1.05 under ticker code “ALU.”
Buck and ore
In forex, the Oz dollar is buying US 70.2c today,
Then to commodities, all in the greenback,
Brent Crude back down around -1.5%, now selling at $89.34/barrel,
Iron Ore dumped -2.4%, to $95.70 a tonne in Singapore,
Gold today $4,112/ounce, and,
US natgas futures up, $2.74 per gigajoule.
That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.
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