Market Open: JD Vance hails ‘great progress’ in US-Iran talks in Switzerland; Wall Street tech slumps

At The Bell — We’re heading for a 20-point advance at open this morning, largely in line with global optimism. That comes after Tehran’s top negotiators were in Switzerland meeting with the U.S. Vice President JD Vance, who was there at the meeting, has hailed “great progress” in the negotiations.

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The Dow Jones advanced on the hope, though the S&P 500 and Nasdaq composite both slipped red thanks to several tech drops on Monday.

SpaceX tanked nearly -17% early in Week 26, deleting most of its post-IPO gains, while Alphabet struggled quite badly, too. The latter drop was thanks to Google DeepMind vice president John Jumper leaving for Anthropic.

Those tech jitters haven’t seeped Down Under yet, though, considering Week 26 has mostly been red already, it wouldn’t be surprising to see things slip.

Keep an eye on S&P Global’s Australia June composite PMI data at 9AM, too.

ASX stocks to watch

In stocks, WiseTech Global (ASX:WTC) is under the microscope again in Week 26, with Morningstar warning the company’s “fair value” could plunge as much as 20% if Richard White is forced to leave. The WiseTech founder is reportedly being investigated by the Australian Federal Police right now.

Inghams (ASX:ING) dumped yesterday after a second H5N1 bird flu case was detected in southern WA. Ingham locked down its WA locations in response.

We have a new debutant today on the ASX as well, with Daly Resources – who delayed their IPO several times in June – arriving midday. Daly will list under “DLY” and is looking to raise up to $12 million at 25c a share.

Elsewhere, Duketon Mining (ASX:DKM) has hit what it’s describing as “significant” gold intersections at Barlee in the Archaean Southern Cross.

And, Dreadnought (ASX:DRE) has increased its Metzkes Find’s resource by 94%.

Buck and ore

In forex, the Oz dollar is buying US 70c today,

Then to commodities, all in the greenback,

Brent Crude -3%, to $78.06/barrel,

Iron Ore has dropped -0.3%, and today sells at $98.30 a tonne in Singapore,

Gold has bounced back, now around $4,202/ounce, and,

US natgas futures up, $3.23 per gigajoule.

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

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