ASX today – Australian shares have (barely) ticked down in futures this morning, with expectations pointing towards a three-point dip when Week 43 opens, as most catch their breath from the recent U.S. rollercoaster.
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Between Albanese’s meeting with Trump coming up this week and trade war worries from last, many seem happy to see what unfolds before moving.
Most have eyes on the Washington/Beijing talks coming sometime this week: Trump suggested he’s happy to sit down with anyone to find peace, while China’s representatives said they would “fight to [the] end.”
That has led to a -0.03% change in ASX futures today, and that may stay relatively similar through to when macro news starts rolling out Tuesday.
First up there, RBA’s assistant governor Brad Jones has a speech scheduled for tomorrow, while Michele Bullock will deliver the Bradfield Oration on Friday. Both may give hints towards November’s rate cut call.
Elsewhere, a whole whack of companies are reporting. Let’s get into that now.
ASX stocks to watch
Gold miners are – for another week straight – the hot watch after the precious metal posted its biggest weekly gain in half a decade. Silver is on its tail, too, meaning silver-exposed explorers may hike as well.
Elsewhere, Infratil (ASX:IFT) has scooped up another 4.92% stake in Contact Energy (ASX:CEN). The company paid $437.7 million at $8.95 a share and will control 14% of the New Zealand provider after the buy-up.
And, Tabcorp (ASX:TAH) shareholders are fighting back against chief Gillon McLachlan’s “outlandish” $18 million bonus payment; many say it’s unearned.
We’ll see several new ASX floats this week, too, ranging from Desert Minerals and PC Gold on Tuesday to Temas Resource Corp on Thursday.
There’s also everything from production updates from BHP Group (ASX:BHP), Woodside Energy (ASX:WDS), and Fortescue (ASX:FMG), among others, to a long run of general meetings and key quarterlies.
Buck and ore
Now – in forex, the Oz dollar is buying 64.9 U.S. cents.
And looking at commodities, all in the greenback,
Iron Ore has dipped -0.9%, to $103.95 a tonne in Singapore,
Brent Crude is down -0.4%, at $61.29/bbl,
Gold is still shining bright, up at $4,262 an ounce this morning, and,
US natgas futures have jumped +2.8%, to $3 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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