U.S. stocks finished at record highs on Friday after softer-than-expected September inflation data fuelled expectations of further Federal Reserve rate cuts. The Dow Jones climbed 472 points, or just over 1%, to close above 47,000 for the first time, while the S&P 500 added nearly 0.8% and the Nasdaq gained 1.15%. The consumer price index rose 0.3% on the month and 3% annually, slightly under forecasts, with core inflation also coming in lower than expected. Traders responded by pricing in more than 95% odds of cuts at both the Fed’s November and December meetings, boosting sentiment across equities. Bank stocks were among the strongest performers, with JPMorgan, Wells Fargo and Citigroup each advancing around 2%.
The rally is expected to spill into Australian markets, with ASX 200 futures pointing to a 26-point, or 0.3%, rise at Monday’s open. Local investors will be watching the September quarter CPI report on Wednesday, which will shape the Reserve Bank’s policy outlook ahead of its board meeting next week. RBA Governor Michele Bullock is also due to speak on Monday evening in her final remarks before the meeting. Globally, the European Central Bank, Bank of Canada and Bank of Japan are all set to meet this week, with Canada the only major central bank expected to ease further. Analysts say attention will focus on Fed Chair Jerome Powell’s press conference midweek, with expectations he will signal the possibility of another rate cut in December.
In company news,
Encounter extends high-grade niobium and REE at Green
Encounter Resources (ASX:ENR) has reported significant extensions of high-grade niobium and rare earth mineralisation at its Green deposit in the West Arunta region. Drilling 1 km east of the initial resource footprint intersected 18m at 2% Nb2O5 and 46m at 1% total rare earth oxides (TREO), among other notable results. A separate REE-rich zone is emerging along the southern margin of the carbonatite complex, distinct from the niobium domain. The Green deposit currently hosts an Inferred Resource of 19.2 Mt at 1.74% Nb2O5 across the Aileron Project, and infill drilling is underway to support a resource update. The results confirm the scale of Green as a major niobium-REE system.
Finder boosts Krill and Squilla volumes with new seismic data
Finder Energy’s (ASX:FDR) reprocessed 2025 Ikan 3D seismic data has materially upgraded the Krill and Squilla oil discoveries in PSC 19-11. Improved imaging has resolved shallow fault complexities and better defined the Laminaria reservoir. The updated mapping has increased gross rock volume estimates by 60% at Krill and 243% at Squilla. Both fields require appraisal drilling to confirm commerciality, with potential development options including tie-back to the Kuda Tasi-Jahal (KTJ) project or a new southern hub. Resource updates are now underway as Finder integrates geological studies with the new seismic interpretation
Albion outlines undrilled high-grade gold corridor at Ives North
Albion Resources (ASX:ALB) has identified a new multi-kilometre gold corridor at Ives North within its Yandal West Project in Western Australia. Rock chip sampling returned grades up to 42.1 g/t gold, with strong supporting pathfinder elements including silver, bismuth, tellurium, and molybdenum. Geophysical data has highlighted several structural corridors that may have acted as fluid pathways, while soil geochemistry outlined a 1.5 km × 700 m anomaly. The area has never been drilled, and a heritage survey is being fast-tracked with first-pass drilling scheduled for the new year. The discovery builds on previous success at the Collavilla prospect 2 km south, positioning Ives North as a priority exploration target.
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Source: Finance News Network
