U.S. stocks surged to fresh record highs on Monday as trade tensions with China eased, paving the way for a potential deal between President Donald Trump and President Xi Jinping later this week. The S&P 500 climbed 1.23% to close at 6,875.16, breaking through the 6,800 level for the first time, while the Nasdaq Composite rallied 1.86% to 23,637.46 on strength in chipmakers. The Dow Jones Industrial Average rose 337 points, or 0.71%, to 47,544.59, with the Russell 2000 small-cap index also finishing at a record high. Gains were led by technology stocks, including Nvidia and Broadcom, while Qualcomm jumped 11% after unveiling new AI chips, and Tesla advanced 4.3%.
Attention now shifts to a busy week of corporate earnings and central bank policy. Nearly 180 S&P 500 companies are set to report, including tech giants Microsoft, Alphabet, Meta, Apple and Amazon, which together account for nearly a quarter of the index’s market value. Analysts note margins remain strong at 12.8%, though elevated expectations leave little room for disappointment. The Federal Reserve is expected to cut rates by a quarter point on Wednesday following softer inflation data. Closer to home, the ASX 200 is poised to open lower, with SPI futures down 39 points, or 0.4%, to 9,041. Quarterly results from Liontown Resources and Nickel Industries are due, alongside annual meetings for Austal, Credit Corp Group and CSL.
In company news,
Li-S Energy rolls out Australia’s first lithium foil line
Li-S Energy (ASX:LIS) has completed Australia’s first lithium foil production line at its Geelong facility, a significant milestone for domestic battery materials manufacturing. The line produced 20-micron lithium foils and lithium-coated copper laminates, which will be used both in-house and sold internationally. Supported by an Industry Growth Program grant, the facility enhances sovereign supply capability and will integrate Li-S Energy’s proprietary nanomaterials to further improve performance and cycle life.
Olympio expands Bousquet gold system to 1.7km
Olympio Metals (ASX:OLY) has extended the mineralised strike length at the Decoeur Prospect within its Bousquet Project in Quebec to over 1.7km, following new drill results including 7.1m at 1.43g/t gold. The assays confirm continuity between Decoeur and Joannes prospects and point to additional feeder structures, strengthening the potential for a multi-deposit gold system along the Cadillac Break. Further drilling and assay results are pending, with planning underway for advanced testing at Paquin.
Fluence wins US$12m Saudi water treatment deal
Fluence Corporation (ASX:FLC) has secured a contract worth more than US$12m to supply an ultrapure water treatment system for a combined-cycle power plant in Saudi Arabia. The project, for contractor Técnicas Reunidas, will use Fluence’s Niroflex technology, with completion expected in 2026 and start-up in 2027. Management said the contract underscores the company’s expanding Middle East presence and ability to leverage global teams for large-scale power sector projects.
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