US equities rebounded on Friday after a three-day slump, though all three major indices still ended the week lower. The Dow rose nearly 300 points to 46,247, the S&P 500 added 0.59 per cent to 6,644, and the Nasdaq gained 0.44 per cent to 22,484. For the week, however, the Nasdaq dropped 0.7 per cent, the S&P slipped 0.3 per cent, and the Dow eased 0.2 per cent, marking the first weekly decline in a month. The Federal Reserve’s preferred inflation gauge, the PCE index, came in line with expectations at 2.9 per cent for core inflation and 2.7 per cent overall, keeping markets positioned for two projected quarter-point rate cuts. Still, stronger jobless claims data and an upward revision of GDP growth to 3.8 per cent highlighted economic resilience that could reduce pressure on the Fed to ease policy quickly.
Consumer sentiment in September held steady, particularly among households with larger stock portfolios, but losses in the technology sector weighed on broader gains, with Oracle sinking more than 8 per cent for the week.
Looking at the local market, futures point to a firmer open for the Australian market, with the SPI 200 up 0.2 per cent. Local attention this week turns to trade balance figures, household spending data, and the Reserve Bank of Australia’s financial stability review. The RBA is widely expected to hold rates at 3.6 per cent, though with August inflation rising to 3 per cent, its highest in a year, analysts expect a shift in tone, suggesting rate cuts may be further off than previously hoped.
In company news,
Chimeric Therapeutics early trial shows tumour shrinkage with CDH17 CAR-T therapy
Chimeric Therapeutics (ASX:CHM) reported encouraging early data from its Phase 1/2 trial of CHM CDH17, a third-generation CAR-T therapy targeting gastrointestinal tumours. At Dose Level 2, patients showed evidence of tumour shrinkage (up to 37%) and disease control without gastrointestinal toxicity. One patient at Dose Level 1 has remained in stable disease for over 10 months. The Safety Monitoring Committee cleared Dose Level 2 for further exploration, and management emphasised the durability and potential patient benefit of these results.
Dreadnought Resources discovers thick rare earth carbonatite at Gifford Creek
Dreadnought Resources (ASX:DRE) announced the discovery of a thick rare earth carbonatite interval at its Stinger deposit within the Gifford Creek Carbonatite in WA. Hole CBDD011 intersected 140m at 0.9% TREO (24% NdPr:TREO) from 307m, a style of mineralisation not previously identified at the project. The zone shows similarities to the world-class Mountain Pass deposit in the US. Mineralogical analysis is underway, and management highlighted increasing commercial interest in the project’s critical minerals potential.
Nyrada Phase I success positions Xolatryp for 2026 heart attack trial
Nyrada’s (ASX:NYR) lead drug candidate Xolatryp achieved its Phase I primary endpoint, with all doses safe and well tolerated in healthy volunteers. No serious adverse events were observed, and the pharmacokinetic profile matched preclinical findings, reaching therapeutic levels within 10 minutes. Phase IIa trials in acute myocardial infarction patients are on track to begin in Q1 2026. The data support Xolatryp’s potential for emergency use in cardioprotection.
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