ASX today – Australian shares are barrelling towards a +0.9% rally at Wednesday open, defying a tumultuous Trump-hit Wall Street session that saw the Dow Jones advance against the S&P 500 and Nasdaq composite sinking.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Some of the U.S. issues came after Trump complained about China not buying American soybeans (yes, truly) and said Beijing often “takes advantage” of the global relationship the two trade superpowers share today.
Others were spurred on by Federal Reserve chairman Jerome Powell sharing concerns around U.S. jobs and how to navigate the downturn.
All that Wall Street worry hasn’t made it to Australian shores, though, and traders seem more eager to snap up deals from the early-week downturn – including (in classic Oz fashion) gold, silver, iron ore, and base metals.
Now, let’s take a look at the companies sharing news today.
ASX stocks to watch
Westpac (ASX:WBC) has been told it no longer has to carry an additional $500 million in capital; the bank was ordered to hold that in cash by APRA in 2019 after it failed to handle laundering breaches properly.
Red Mountain Mining (ASX:RMX) has shared results that support the exploration model at Oaky Creek. The target there has been a vein-style orogenic antimony-gold deposit considered analogous to nearby Hillgrove.
And, Commonwealth Bank (ASX:CBA) is hosting its AGM pre-open this morning. There, the bourse leader will focus on “vital” succession planning.
For earnings, the Bank of Queensland (ASX:BOQ) reports today.
Buck and ore
Now – in forex, the Oz dollar is buying 64.8 U.S. cents.
And looking at commodities, all in the greenback,
Iron Ore has dived -2.3%, to $105.30 a tonne in Singapore,
Brent Crude is down -1.7%, at $62.26/bbl,
Gold has been unstoppable, and is up to $4,152 an ounce already, and,
US natgas futures have dropped -2.3%, to $3.02 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.