The S&P 500 and Nasdaq Composite set fresh intraday and closing records on Wednesday, fuelled by gains across technology, utilities, and industrials, though the Dow finished flat. The S&P rose 0.58 per cent to 6,753.72, while the Nasdaq advanced 1.12 per cent to 23,043.38. Minutes from the Federal Reserve’s September meeting showed policymakers split on further rate cuts, but markets showed little reaction. Nvidia gained 2 per cent after CEO Jensen Huang reported surging demand for computing power and confirmed backing for Elon Musk’s AI startup xAI, helping to restore confidence after Oracle’s disappointing cloud margins earlier in the week sparked worries over AI profitability.
In Washington, the government shutdown stretched into an eighth day as the Senate again failed to advance funding bills, heightening risks that federal workers and active-duty military could soon miss pay. President Donald Trump said not all furloughed staff may receive back pay. Despite the political deadlock, the market impact has so far been limited. Looking ahead, the ASX 200 is expected to open stronger, with futures pointing up 38 points, or 0.4 per cent, to 9009.
In company news,
Immutep reaches enrolment milestone in global Phase III lung cancer trial
Immutep (ASX:IMM, NASDAQ:IMMP) announced that its pivotal Phase III TACTI-004 trial in first-line non-small cell lung cancer (NSCLC) has surpassed 170 patients enrolled, enabling a futility analysis in Q1 2026. The study is testing its lead drug eftilagimod alfa (efti) with Merck’s Keytruda plus chemotherapy, across more than 100 active sites in 24 countries. The trial follows encouraging Phase II data showing efti boosts anti-PD-1 responses regardless of PD-L1 status. CEO Marc Voigt said the program has the potential to reshape NSCLC treatment, a disease with over two million annual cases globally.
Marmota delivers bonanza gold at Greenewood discovery
Marmota (ASX:MEU) reported spectacular “bonanza” gold grades from its maiden drill program at the Greenewood discovery, 35km from its Aurora Tank deposit in South Australia. Results included the highest ever 4m interval at Greenewood: 4m at 43 g/t Au within a broader 28m at 6.5 g/t. The program has now outlined a near-continuous 900m strike zone with excellent continuity, high grades close to surface, and multiple thick intersections. Chairman Dr Colin Rose said the grades rival the historic Challenger mine and position Marmota’s Gawler Craton portfolio for future development.
Astral Resources hits strong gold intersections at Spargoville
Astral Resources (ASX:AAR) reported extensive new gold mineralisation from its Spargoville Gold Project near Kalgoorlie, with standout drilling results at Eagles Nest (including 3m at 16.9 g/t Au and 9m at 5.16 g/t Au) and the Trapdoor–Lindsay’s Reward trend. These assays confirm extensions at depth and along strike, with potential links to the Huntsman deposit. At the Mandilla Gold Project, infill drilling at the Theia deposit is 74% complete, with a diamond program scheduled for mid-October to test deeper high-grade targets. Astral also highlighted its consolidated mineral resources of 1.76Moz and ore reserves exceeding 1.08Moz, positioning Mandilla as a cornerstone project.
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