Wall Street retreated on Tuesday, ending a seven-day winning streak as concerns over artificial intelligence profitability and the protracted U.S. government shutdown weighed on sentiment. The S&P 500 fell 0.38% to 6,714.59, the Nasdaq slipped 0.67% to 22,788.36, and the Dow Jones lost 92 points, or 0.2%, to finish at 46,602.98. Oracle led declines in the tech sector, tumbling 2.5% after reports its cloud division faces thinner margins than expected and is losing money on some Nvidia chip rental deals, sparking broader doubts about the costs of AI adoption.
The shutdown, now in its seventh day, has delayed economic data releases and could hit harder next week when military personnel miss paychecks. Political gridlock persisted as the Senate again failed to pass a funding bill, while President Trump raised the stakes by signalling possible new tariffs on Canadian imports. The uncertainty pushed gold to a record US$4,000 an ounce as investors sought safe havens.
What’s ahead in Australia
Locally, the ASX is tipped to open weaker, with SPI futures down 4 points. Investors will also be watching the Reserve Bank of New Zealand, which is widely expected to cut its key interest rate when it meets today, with a decision due at midday AEDT.
Immuron files FDA IND for C. diff treatment candidate IMM-529
Immuron (ASX:IMC, NASDAQ:IMRN) submitted an Investigational New Drug (IND) application to the FDA for clinical development of IMM-529, an oral antibody therapy for Clostridioides difficile (C. diff) infections. A Phase 2 trial is planned for 2026, targeting both first-episode and recurrent patients. Market analysis projects a potential US$400m annual revenue opportunity, given the unmet need in treating C. diff, a pathogen causing over 400,000 infections and 30,000 deaths annually in the US. IMM-529 targets three virulence components, with preclinical data showing strong protection against disease recurrence and treatment potential.
DroneShield delivers landmark AI software release for counter-drone systems
DroneShield (ASX:DRO) announced its most substantial software release to date, introducing a new emitter-based disruption engine (RFAI-ATK), the largest-ever expansion of its drone detection database, and doubled processing power in its DroneSentry-X Mk2 platform.The updates also include SAPIENT protocol integration, enabling interoperability across NATO and allied defence networks. These advances strengthen DroneShield’s push into SaaS revenue streams, improve drone detection accuracy, and enhance disruption capabilities against hostile drones, cementing its role as a leader in AI-driven counter-UAS technology.
Altech and AMPower launch explosion-proof UPS battery for European pipelines
Altech Batteries (ASX:ATC), in partnership with AMPower, unveiled a new 384 V / 15 kWh sodium-nickel-chloride UPS battery designed for Europe’s gas and hydrogen pipeline infrastructure. The battery is fireproof, explosion-proof, maintenance-free, and certified for ATEX-classified explosive environments. It operates across extreme temperatures without cooling or ventilation and can directly replace legacy lead-acid systems. With a 15+ year lifespan and over 5,000 cycles, Altech positions the product as a transformative drop-and-play solution to replace ageing lead-acid and nickel-cadmium systems across Europe’s vast, ageing pipeline network.
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Source: Finance News Network
