Australian shares are heading into Monday with a mixed set of signals from overseas. Wall Street managed a modest recovery on Friday, with technology stocks leading the rebound, but the gains did little to repair a difficult week for global equities.

The S&P 500 rose 0.3% to 7,376.86, while the Nasdaq gained 1.1% to 24,579.42. The Dow Jones slipped 0.5% to 51,285.73. Despite Friday’s bounce, the Nasdaq finished the week down 3.4%, with the S&P 500 losing 2.7%.

The recovery came as investors bought back into some of the technology names hit hardest by concerns about AI valuations, regulation and the enormous investment required to build out data-centre infrastructure. The wider question is whether this was simply a relief rally or the beginning of a more sustained stabilisation in technology shares.

Locally, the S&P/ASX 200 finished Friday at 9,020.8, down 0.49%, although it still managed a 1.2% gain across the week. Defensive sectors provided some support, with consumer staples up 1.41% and financials gaining 0.56%. Materials fell 2.51%, reflecting pressure across the mining sector.

The Australian market has so far shown some resilience against the global technology sell-off, partly because of its lower exposure to the major US AI stocks. But that doesn’t make it immune, particularly while commodity prices and global growth expectations remain unsettled.

ANZ (ASX: ANZ): Full-year results are due today. Investors will be looking at earnings, margins, credit quality, bad-debt provisions and the final dividend, particularly after higher impairment charges emerged across parts of the banking sector.

Technology: Friday’s Nasdaq rebound will be tested as investors reassess the outlook for AI-related stocks and infrastructure spending.

Materials: Miners remain vulnerable to weaker copper prices and concerns about Chinese demand, despite a modest weekly recovery in iron ore.

RBA: Assistant Governor Sarah Hunter is scheduled to speak at the UBS Australasia Conference, following last week’s decision to lift the cash rate to 4.85%.

Today

• ANZ full-year results

• RBA Assistant Governor Sarah Hunter speaks

• China October CPI and PPI

• US October CPI

Tuesday US session

• CBA quarterly update

Wednesday

• Australian labour force figures

19 November

• China’s inflation figures will be particularly relevant for resource stocks, providing another indication of whether domestic demand and industrial pricing are improving.

Truscreen (ASX: TRU) has advanced Bangladesh opportunity to drive Indian subcontinent expansion;

Dundas Minerals (ASX: DUN) has executed a Rockland ore purchase agreement executed with Forrestania;

GBM Resources (ASX: GBM) has hit a broad high-grade gold intersection outside Lone Sister MRE;

Vitasora Health (ASX: VHL) has reported CCM patients are outperforming benchmarks, enhancing growth; and

Electro Optic Systems (ASX: EOS) has landed a new $16M Middle East counter drone order;

The crypto sell-off has extended beyond Bitcoin, with Ethereum, XRP and Solana also caught up in the broader retreat from risk assets.

Bitcoin briefly slipped below US$75,000 on Friday, while more than US$1 billion in leveraged crypto positions were liquidated over 24 hours. XRP was among the hardest-hit major tokens, falling to around US$1.20.

Institutional investors are also pulling back, with US spot crypto ETFs recording more than US$1.1 billion in combined weekly outflows. Meanwhile, stablecoin supply has contracted, suggesting some capital is leaving the digital asset ecosystem rather than simply rotating between tokens.

That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.

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