AUS
NZ
UK
CA
USA
IND
Highlights
- ASX futures point to a positive open following Wall Street’s rebound
- Gains in banking, gold and consumer staples offset IT and energy losses
- Tesla (NASDAQ:TSLA) rallies despite earnings miss, boosting US tech sentiment
Australia’s equity market is poised to open higher today, buoyed by an overnight rebound on Wall Street and supportive movements in commodity markets. ASX 200 futures rose by 100 points, or 1.27%, as of 8:30 am AEST, hinting at a firm start to local trade. This bounce follows a broad recovery in US equities, where investors seemed to shake off prior losses, possibly exacerbated earlier by thin holiday trading volumes.
On Tuesday, the S&P/ASX 200 Index closed marginally lower by just 2 points at 7,816, after clawing back from an early dip to 7,745. Gains in key sectors such as Financials, Consumer Staples, and Materials helped limit downside pressure. Commonwealth Bank of Australia (ASX:CBA) led the financial sector, notching its ninth consecutive daily gain and closing at a record high of A$168, adding 36 points to the index.
Gold miners were another standout, supported by spot gold momentarily spiking to A$3,500 per ounce. Evolution Mining (ASX:EVN) rose 4.85% to A$8.87, Regis Resources (ASX:RRL) climbed 3.81% to A$4.90, De Grey Mining (ASX:DEG) advanced 3.41% to A$2.73, and Northern Star Resources (ASX:NST) increased 2.95% to A$23.01.
In contrast, the tech, energy, and healthcare sectors weighed on the index, with Information Technology falling 2.26% and Energy sliding 1.91%. The uranium segment faced pressure after Deep Yellow (ASX:DYL) postponed a final investment decision for its Tumas project in Namibia, citing inadequate pricing support. Its shares dropped 8.24% to A$0.83. Paladin Energy (ASX:PDN) fell 12.53%, Bannerman Energy (ASX:BMN) lost 12.52%, and Silex Systems (ASX:SLX) declined 10.95%.
Over in the US, renewed optimism around easing trade tensions lifted market spirits. Tesla (NASDAQ:TSLA) staged a 4.63% after-hours rally despite missing revenue and earnings expectations and retracting its 2025 vehicle growth outlook. The positive tone came as President Trump clarified that he had no intention of removing Federal Reserve Chair Jerome Powell, providing a degree of policy stability.
In broader economic updates, attention turns to tonight’s S&P Global Flash PMI data, with consensus forecasts suggesting a dip to 51 from 53.5—still slightly above the threshold indicating expansion.
Meanwhile, copper surged 3.2% on a softer US dollar, while crude oil rebounded amid new sanctions on Iran and stronger global equities.
In small caps, Riversgold Ltd (ASX:RGL) is awaiting assay results from its drilling program in Kalgoorlie. Cyprium Metals Ltd (ASX:CYM) will regain full control of its Paterson exploration ground after IGO’s exit. Solis Minerals Ltd (ASX:SLM) has confirmed widespread copper mineralisation at its Cinto Project in Peru, planning further surveys to define drill targets.
As markets approach the ANZAC Day long weekend, investor sentiment appears cautiously optimistic, with a close watch on economic signals and global policy developments.
