ASX today – Australian shares have turned dovish today on Anthony Albanese finally meeting with Donald Trump, with the two nations’ leaders sitting down to talk about critical minerals and reaffirming the AUKUS partnership.
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.
How the meeting went was sure to determine the rest of the Week 43 story – and with the moot a “great success,” Oz traders are excited all over again.
Most importantly, Trump told Albo we would still be getting our expensive AUKUS submarines, while the pair also took the time to draw up an “historic” new critical minerals deal worth as much as US$8.5 billion.
Trump also barbed Kevin Rudd, who attended the meeting, telling the former PM, “I don’t like you, and probably never will.” Do with that one what you will.
Interestingly, the ASX now climbing +0.5% in futures was still overshadowed by Wall Street exploding back into an October rally: The Dow, S&P, and Nasdaq composite all advanced between +1% and +1.4% as its week started.
And that’s despite as many as 30% of all internet sites and platforms facing outages after the Amazon Web Service wobbled through the Aussie evening.
AMZN actually ended up +1%, funnily enough. Now, here’s our stock news.
ASX stocks to watch
Two companies should be closely watched today: Arafura Rare Earths (ASX:ARU) and Lynas Rare Earths (ASX:LYC) were both directly named in the Trump-Albo rare earths deal and shape as interesting watches Tuesday. Iluka Resources (ASX:ILU), Meeka Metals (ASX:MEK), and Caprice Resources (ASX:CRS) are several other larger-cap Australian miners that have had rare earths exposure.
Elsewhere, microcap Yari Minerals (ASX:YAR) has this week started its inaugural drilling run at the Rolleston South Coal Project in the Bowen Basin.
And, Super Retail (ASX:SUL), which owns Supercheap Auto, Rebel, and more, has found a new helmsman in BCF (another subsidiary) managing director Paul Bradshaw. The promoted boss has been with the company since 2019.
PC Gold (at 12pm) and Desert Minerals (1pm) join the bourse today, too.
Buck and ore
Now – in forex, the Oz dollar is buying 65.1 U.S. cents.
And looking at commodities, all in the greenback,
Iron Ore has dipped -0.1%, to $103.80 a tonne in Singapore,
Brent Crude is down -0.7%, at $60.93/bbl,
Gold is unbeatable; the yellow metal is up again at $4,366 an ounce, and,
US natgas futures have rocketed +14%, to $3.41 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.