Good morning and a lucky Thursday to you, this is HotCopper’s Market Open, I’m Jonathon Davidson.
The local bourse is set to rise 0.3% higher; this comes after a historic Wednesday where we saw the USA vote for Donald Trump – once again.
Likely not too surprising, Wall Street responded with gusto. On Wednesday evening Australia time, Wall Street futures were heavily bullish. The S&P ended up 2.5%; the Dow and NASDAQ up around 3%.
While not every single US vote has been counted yet, it seems safe to say Trump will resume the throne next year. You can likely expect the renewables-heavy Inflation Reduction Act (IRA) repealed, probable to put a dent in renewable energy thematics broadly.
Elsewhere – and while still two months away from handover – analysts expect US-based healthcare stocks will suffer as probable cuts on healthcare lessen revenues for some.
Turning to forex, the Aussie is currently buying 66 US cents.
Turning to commodities which are in the greenback,
Brent Crude is fetching $75 per barrel,
Gold is currently worth $2,660 per ounce.
In Singapore, Iron Ore is worth $103 per tonne, and,
US natgas futures pulling in $2.70 per gigajoule.
That’s Market Open – stick with us for Market Update in a few hours time. Happy trading.
