Wall Street surged to fresh record highs on Monday, with the S&P 500, Nasdaq, and Dow Jones all closing at all-time levels. Gains were led by technology stocks and renewed enthusiasm for artificial intelligence, with Nvidia jumping nearly 4% after unveiling a US$100bn investment in OpenAI to expand data centres. Oracle climbed 6% on a leadership shake-up, while Apple advanced more than 4% on optimism around iPhone sales, bringing its market value closer to US$4tn. Analysts said the moves reinforced expectations that AI will remain a powerful driver of earnings and share price growth.
Despite the upbeat tone, concerns over a potential US government shutdown tempered sentiment, as lawmakers face a September 30 funding deadline. The rally also comes on the back of the Federal Reserve’s recent rate cut, with markets now expecting two more by year-end. Investors will closely watch upcoming inflation data and global purchasing managers’ surveys for signals on growth. Australian shares are set to open higher in response, with futures pointing to a 0.2% gain for the S&P/ASX 200 at the start of trade.
In company news,
EMA backs year-round use of Clinuvel’s SCENESSE®
Clinuvel Pharmaceuticals (ASX:CUV) announced that the European Medicines Agency has amended the label for its photoprotective drug SCENESSE®, allowing erythropoietic protoporphyria (EPP) patients to receive treatment every two months without a maximum annual dose restriction. The decision harmonises Europe’s guidelines with those of the US Food and Drug Administration and follows review of over 15 years of clinical and real-world data. The Committee for Medicinal Products for Human Use confirmed no significant safety concerns with uninterrupted dosing, enabling immediate implementation. SCENESSE® remains the only approved therapy for EPP, which causes debilitating phototoxic reactions, and more than 18,500 doses have already been administered worldwide.
Golden Horse expands drilling after Hopes Hill high-grade hits
Golden Horse Minerals (ASX:GHM) reported further strong results from its Hopes Hill project in Western Australia. Diamond drilling at the Central Zone intersected 28.7m at 3.8 g/t gold, including 4.5m at 20.9 g/t, within a broader 86m intercept at 1.6 g/t. At the Southern Zone, drilling confirmed an 11m interval at 2.4 g/t including 3m at 5.1 g/t. The company has mobilised a second diamond rig ahead of schedule, bringing total capacity to four rigs as it targets extensions to the 1.3km mineralised corridor. Management said the results validate earlier RC drilling and strengthen confidence that Hopes Hill can deliver significant high-grade gold resources.
Hazer secures Singapore patent for advanced graphite technology
Hazer Group (ASX:HZR) has secured a significant patent from the Intellectual Property Office of Singapore covering its process for controlling graphite morphology, specifically the production of carbon nano-onions. The patent strengthens Hazer’s intellectual property in Southeast Asia, where it is pursuing commercial partnerships across energy, ammonia, petrochemicals, steel and refining industries. CEO Glenn Corrie said the approval reinforces Hazer’s leadership in methane pyrolysis, which produces clean hydrogen and high-value graphite. The company sees Singapore as a strategic hub to scale its technology by leveraging LNG and advanced manufacturing infrastructure.
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