US stocks ended higher on Friday, capping a strong week as investors responded to the Federal Reserve’s first interest rate cut since December. The Dow Jones gained 172 points, or 0.37%, to close at a record 46,315.27, while the S&P 500 rose 0.49% to 6,664.36 and the Nasdaq advanced 0.72% to 22,631.48. The Russell 2000 dipped 0.7% on the day but still posted a weekly gain. For the week, the S&P 500 and Dow climbed 1.2% and 1%, while the Nasdaq surged 2.2% and the Russell extended its winning streak to seven weeks. Apple jumped 3.2% on the global release of its new iPhone, lifting its valuation above US$3.6 trillion, while Tesla rose more than 2.2%. Oracle also rallied on reports it is in talks with Meta for a US$20bn cloud-computing deal.
The upbeat tone on Wall Street is set to support the Australian sharemarket, with futures for the S&P/ASX 200 up 24 points, or 0.3%, to 8852. Despite three straight weekly declines driven by profit-taking after reporting season, local sentiment could improve on the back of US rate cuts and strength in technology stocks. Reserve Bank governor Michele Bullock is scheduled to appear before parliament on Monday, though commentary on interest rates may be limited ahead of the 30 September policy meeting. Meanwhile, the Australian dollar has slipped below US66¢ as the greenback strengthened, while higher gold and iron ore prices are expected to provide a boost for miners.
In company news,
Vection wins $22m NATO defence deal, largest contract in company history
Vection Technologies (ASX:VR1) secured its largest contract to date: a $22.3m multi-year master framework agreement, scalable to $29.5m, with a repeat NATO-approved European defence partner. The deal expands an existing program now valued at $40m, of which $10.3m has already been delivered. Vection’s integrated XR and digital infrastructure solutions will be deployed through to 2030, with the framework enhancing its position in the European defence supply chain. Management noted that heightened geopolitical tensions are fuelling demand for AI-driven monitoring solutions.
Broken Hill Mines strikes high-grade polymetallic zones at Pinnacles
Broken Hill Mines (ASX:BHM) released the first assays from its FY26 drilling at the Pinnacles Mine near Broken Hill. Intercepts included 7.3m at 21.4% ZnEq and 592g/t AgEq, with a high-grade core of 3.2m at 37.3% ZnEq and 1,031g/t AgEq. Gold (up to 5.3 g/t) and copper (up to 0.4%) added to the polymetallic upside. Historical but previously unreleased results confirm similar high grades. The company is targeting an updated resource estimate in 1H 2026 to support restart options, leveraging processing infrastructure at its nearby Rasp Mine.
Immutep partners with GW Cancer Center for Phase II breast cancer trial
Immutep (ASX:IMM; NASDAQ:IMMP) announced a research collaboration with the George Washington University Cancer Center to run a Phase II investigator-initiated trial of eftilagimod alfa (efti) in early-stage HR+/HER2-negative breast cancer. Up to 50 patients will receive efti monotherapy followed by efti plus chemotherapy before surgery. The study will measure pathological complete response as its primary endpoint. Immutep is providing the drug and limited support, while most funding comes from grants and GW. CEO Marc Voigt said the trial expands efti’s pipeline into earlier-stage disease at low cost and builds on encouraging prior results.
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