Wall Street surged on Monday, recovering much of Friday’s heavy losses after President Donald Trump reassured investors that trade relations with China “will all be fine.” His comments eased fears of an escalating tariff war that had erased $2 trillion in market value last week. The Dow gained 588 points, or 1.3 per cent, while the S&P 500 rose 1.6 per cent and the Nasdaq climbed 2.2 per cent as technology stocks led the rebound. Oracle gained more than 5 per cent, Nvidia rose nearly 3 per cent, and Broadcom jumped almost 10 per cent after unveiling a partnership with OpenAI. Nearly four in five S&P 500 stocks traded higher, and the Russell 2000 small-cap index rose 2.8 per cent.
The rebound comes as earnings season kicks off, with major banks including JPMorgan, Citigroup, Goldman Sachs, Wells Fargo, Bank of America and Morgan Stanley set to report results this week. Bank of America expects stronger-than-forecast earnings, with technology projected to drive growth. Despite Monday’s rally, volatility persists with the government shutdown ongoing and a payrolls deadline approaching. In Australia, SPI 200 futures are pointing 0.3 per cent higher, with investors awaiting quarterly results from Rio Tinto and Paladin Energy. The Reserve Bank will release minutes from its September board meeting, and NAB will publish its latest business confidence and conditions surveys.
Battery Age secures full ownership of Falcon Lake lithium extensions
Battery Age Minerals (ASX:BM8) has secured 100% ownership of the Falcon Extension properties in Ontario, Canada, completing its staged option agreement with Ombabika Group. The acquisition consolidates the Falcon Main and Falcon North zones into a contiguous 51km² package at Falcon Lake. Drilling has already delivered some of the company’s best lithium intercepts to date, including 54.1m at 1.74% Li2O and 55.95m at 1.47% Li2O. In addition to lithium, Falcon Lake assays have shown significant concentrations of other critical minerals such as rubidium, caesium, tantalum, and gallium. With only 5 of 30 high-priority targets tested, substantial exploration upside remains.
Deep Yellow drilling confirms uranium extensions at S-Bend
Deep Yellow (ASX:DYL)has confirmed uranium extensions at the S-Bend prospect in Namibia, adjacent to its flagship Tumas Project. A reverse circulation program of 452 holes (3,361m) intersected shallow mineralisation, with highlights including 8m at 332ppm eU3O8 and 2m at 1,217ppm eU3O8 from surface. The results show higher-grade mineralisation concentrated in four clusters, which require further drilling to delineate a resource. The discovery enhances the potential to expand the Tumas resource base and extend its current 30-year mine life. Deep Yellow emphasises that this aligns with its growth strategy to become a Tier-1 uranium producer.
OD6 launches Phase 2 drilling at Gulf Creek copper project
OD6 Metals (ASX:OD6) has commenced Phase 2 drilling at its Gulf Creek Copper Project in New South Wales. The program targets large geophysical anomalies at Big Bend, North West, and West Limb, which may represent repeats of the historic high-grade Gulf Creek Mine (which averaged up to 6.5% Cu before closing in 1912). Seven priority diamond drill holes are planned, with approvals in place for up to 25 holes totalling 7,500m. Phase 1 drilling earlier this year confirmed high-grade copper mineralisation beneath the old mine, with assays up to 4.6% Cu. Downhole EM surveys will follow to refine targets. The project provides OD6 with copper exposure alongside its flagship Splinter Rock rare earths project.
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Source: Finance News Network
