US stocks eased on Tuesday as investors took profits ahead of a crucial Federal Reserve meeting expected to deliver the first interest rate cut since December. The S&P 500 slipped 0.13% to 6,606.76 after touching a record high earlier in the day, while the Nasdaq Composite edged down 0.07% to 22,333.96 and the Dow Jones Industrial Average fell 0.27% to 45,757.90. Leading tech names lost ground, with Nvidia off 1.6% and Microsoft down 1.2%. Futures markets have fully priced in a quarter-point cut, but attention is focused on the Fed’s projections for the rest of the year and remarks from Chair Jerome Powell. Political tensions are also in the mix after the Senate confirmed President Donald Trump’s nominee Stephen Miran to the central bank, even as the president seeks to remove Governor Lisa Cook.
In Australia, shares are expected to open lower, with SPI futures pointing 40 points down, or 0.5%, to 8,832. The Fed’s rate decision, due at 4am AEST Thursday, is set to drive sentiment, with expectations of further cuts later in the year. Locally, investors will watch a fireside chat with RBA assistant governor Brad Jones at the Intersekt 2025 Conference in Melbourne, while overseas attention will fall on UK and Eurozone inflation figures, New Zealand consumer confidence, US housing data, and a Bank of Canada policy meeting.
In company news,
Silex hits TRL-6 milestone as GLE completes large-scale uranium enrichment tests
Silex Systems (ASX:SLX) announced that its licensee, Global Laser Enrichment (GLE), has successfully completed large-scale demonstration testing of its uranium enrichment technology in North Carolina. The campaign provides confidence that the process will achieve TRL-6 status, a key milestone toward commercial deployment. GLE expects independent validation by year-end and will continue producing hundreds of kilograms of low-enriched uranium in 2025. The project underpins the proposed Paducah Laser Enrichment Facility in Kentucky, which could process 200,000 tonnes of depleted uranium tails and produce up to 6 million separative work units annually, strengthening US domestic nuclear fuel capacity.
iTech Minerals and SQM seal lithium JV at Reynolds Range with $2m milestone
iTech Minerals (ASX:ITM) has formally launched its lithium joint venture with Chilean giant SQM at the Reynolds Range Project in the Northern Territory. The Central Land Council’s consent triggered a $2m payment to iTech for an initial 30% stake in the lithium mineral rights, boosting its cash balance to $5m. SQM can earn up to 70% through staged investments, including A$7m in exploration to reach 51% and either defining a 50Mt lithium resource or investing A$15m more to reach 70%. SQM will manage the project, while iTech focuses on the area’s antimony and gold potential.
Acusensus wins $8.7m WA fixed camera contract to expand enforcement technology
Acusensus (ASX:ACE) has secured a five-year, $8.7m contract with the Western Australian Road Safety Commission to supply fixed enforcement camera systems across key freeways. The technology will detect offences including speeding, average speed, mobile phone use, improper seatbelt use, red-X lane violations, and unlicensed vehicles. This follows a $9.4m trailer-based enforcement contract in 2024, further strengthening the company’s footprint in WA. Managing Director Alexander Jannink highlighted that the rollout comes amid a spike in WA road casualties, underlining the need for behavioural change.
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Source: Finance News Network
