Wall Street slipped on Tuesday as investors weighed rising Treasury yields and the fallout from a U.S. court ruling that declared most of Donald Trump’s global tariffs illegal. The Dow dropped 249 points, or 0.55%, while the S&P 500 fell 0.69% and the Nasdaq lost 0.82%. Bond yields surged, with the 10-year at 4.27% and the 30-year approaching 5%, adding pressure to equity valuations. The ruling on tariffs raised concerns the government may need to refund billions in revenues, further straining fiscal balances.Investors are bracing for a difficult September, historically the weakest month for equities, and are awaiting Friday’s U.S. jobs report for guidance on the Federal Reserve’s next move.
In Australia, local shares are set to open lower, with futures down 0.4% to 8,841. The Australian dollar eased to 65.17 U.S. cents. Key data ahead includes second-quarter GDP at 11.30am, expected to show modest growth of 0.5%. Later, Reserve Bank governor Michele Bullock is scheduled to deliver a speech in Western Australia, while U.S. JOLTS job openings data will provide another clue on labour market conditions overnight.
Flagship Minerals – Major dataset unlocks Pantanillo gold growth potential
Flagship Minerals (ASX:FLG) has begun reviewing the extensive dataset it acquired from Anglo American for the 1.05Moz Pantanillo Gold Project in Chile. The package includes more than 10,000 documents and 100 tonnes of core samples. Early analysis confirms broad high-grade intercepts such as 193m at 1.01g/t gold and 493m at 0.53g/t gold, reinforcing the project’s potential for substantial Mineral Resource growth under the JORC 2012 code. The company aims to fast-track conversion of the foreign estimate into a Mineral Resource Estimate and advance project studies towards a 100,000oz-per-year heap leach operation. Managing Director Paul Lock described the dataset as a “game-changer,” positioning Flagship strongly amid record-high gold prices.
Sun Silver – High-grade silver intercept extends Maverick Springs
Sun Silver (ASX:SS1) reported strong assay results from drill hole MR25-212 at its Maverick Springs Project in Nevada. Intercepts included 54.1m at 137g/t silver equivalent, with a higher-grade section of 6.25m at 506g/t AgEq. The results extend mineralisation 100m north of the known resource, highlighting scope for further growth. Maverick Springs already hosts a JORC Inferred Resource of 480Moz silver equivalent, making it one of the largest undeveloped primary silver projects in the US. The deposit remains open along strike and depth, and management said the new results reinforce its scale and quality.
Finbar – Record sales from Riverbank Residences launch
Finbar Group (ASX:FRI) launched its $115m Riverbank Residences project in Rivervale, achieving sales of over 70% of the 143 apartments worth about $85m. Construction will begin in October 2025 with completion expected in 2027. August was also Finbar’s best sales month in 30 years, with 150 lots sold at a total value of $125m. The company credits constrained supply of mid-tier apartments and strong demand from both investors and owner-occupiers, with half the sales coming from repeat local buyers. CEO Ronald Chan said the success highlights Finbar’s brand strength and bodes well for upcoming projects including Palmyra Stage Two and a $1.15bn development pipeline across Perth.
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Source: Finance News Network
