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Wall Street closed mixed on Wednesday, with the S&P 500 and Nasdaq setting fresh records after US wholesale inflation unexpectedly fell, fuelling bets that the Federal Reserve will cut interest rates next week. The S&P 500 added 0.3% to 6,532.04 after hitting an intraday high of 6,555.97, while the Nasdaq edged up 0.03% to 21,886.06. The Dow slipped 0.5%, dragged down by Apple after its latest iPhone launch underwhelmed investors. The August producer price index showed a 0.1% decline against expectations for a rise, the first drop in four months, and comes ahead of Thursday’s closely watched CPI release. Traders now see a quarter-point rate cut as certain, with rising odds of a deeper half-point move.
Tech stocks led the day’s standout moves, with Oracle surging 36%, its best session since 1992, after reporting explosive growth in multicloud database demand, fuelling momentum for Nvidia and other chipmakers. Still, most S&P 500 stocks finished lower despite the record-setting benchmarks.
In Australia, shares are set to open softer, with ASX 200 futures down 20 points or 0.2% to 8,805. Investors will be watching Thursday night’s US CPI print as well as the European Central Bank’s policy meeting, where rates are expected to remain unchanged but with a more cautious tone on future easing.
Perenti’s $300m Dalgaranga contract
Perenti (ASX:PRN) announced its underground mining arm, Barminco, has secured a four-year, A$300 million contract at Ramelius Resources’ Dalgaranga Gold Project in Western Australia. The contract covers underground development, production, and related services, following Barminco’s completion of the exploration decline. A further A$16 million in growth capital is expected in FY26. Management emphasised the win as strengthening Barminco’s Australian portfolio and providing sustainable cash generation
Emmerson Resources secures Major Mine status at White Devil
Emmerson Resources (ASX:ERM) and Tennant Mining have confirmed the White Devil Gold Project as a Major Mine, with a 611,400oz resource. The project will now move into a Major Mine Joint Venture, with Emmerson contributing 40% and Tennant Mining holding 60%. A feasibility study is expected before year-end 2025, following an updated mineral resource estimate in October. Meanwhile, the Golden Forty deposit (133,900oz) has been transferred into a Small Mines JV, where Tennant Mining takes 100% ownership, and Emmerson receives a 6% gross royalty on future gold production.
Tambourah Metals delivers high-grade intercepts at Tambourah King
Tambourah Metals (ASX:TMB) reported shallow in-fill drilling at its Tambourah Gold Project in the Pilbara returned standout grades, including 2m at 49.7g/t gold from 50m (with 1m at 97.6g/t). Additional drilling at the Alexandria prospect intersected 2m at 5.8g/t gold. The program tested multiple prospects south of Tambourah King, with assays from diamond drilling still pending. The company is now advancing a preliminary exploration target estimate, alongside a mining lease application and further drilling across regional prospects.
Copyright 2025 – Finance News Network
Source: Finance News Network
