Futures point to a positive open, up 27 points (+0.30%) at 8:30 am AEDT after the S&P/ASX 200 fell 75.5 points (-0.84%) on Monday.
Gold miners led gains as investors rotated into risk-averse assets following sharp moves in Asian trade; critical minerals names also rallied, many posting double-digit advances. Treasury Wine Estates was the notable laggard after a disappointing progress update.
Information Technology (-2.0%), Healthcare (-1.2%), Financials (-1.2%), Energy (-1.2%) and Utilities (-0.93%) underperformed. The Gold sub-index (+2.3%) and Real Estate (+0.3%) were the only areas to finish higher.
Tech drive Wall Street higher
Equities rallied as a conciliatory tone from President Donald Trump eased US-China trade concerns.
In a Truth Social post, Trump said “it will all be fine” and that the US did not want to “hurt” China. Treasury Secretary Scott Bessent flagged a potential Trump–Xi meeting in South Korea.
Technology led the advance, with Broadcom jumping 9.9% on news of an OpenAI chip partnership, while Oracle added 5.1% and Nvidia rose 2.8%, helping lift the Philadelphia Semiconductor Index by 4.9%. Consumer discretionary also firmed as Tesla gained 5.4% and Amazon edged up 1.7%. The broader market rallied, with the Dow Jones Industrial Average up 1.3%, the S&P 500 rising 1.6%—its best session since May—and the Nasdaq Composite advancing 2.2%. Offsetting the strength, casino operators weakened after disappointing Golden Week results.
European recovery
Markets recovered modestly as trade tensions cooled. France edged +0.2% amid cabinet developments; basic resources +3.1% on higher copper; technology +1.9% helped by ASML. FTSEurofirst 300 +0.4%; FTSE 100 +0.2%.
Currencies
The euro eased to about US$1.1570; the Australian dollar to about US$0.6515; the yen weakened to around JPY152.30 per US dollar.
Commodities
Brent +US$0.59 to US$63.32/barrel; WTI +US$0.59 to US$59.49/barrel. Copper +5.2%; aluminium +1.9%. Gold futures +US$132.60 (+3.3%) to US$4,133/oz; spot near US$4,108. Iron ore +US$0.79 to US$106.53/tonne.