Wall Street staged a cautious rebound on Friday as investors returned to major technology stocks after the sector led the worst market drop in more than a month. The Nasdaq edged 0.13 per cent higher, the S&P 500 finished flat, and the Dow slipped 0.65 per cent, with all three recovering sharply from deep intraday losses. Nvidia, Oracle, Palantir and Tesla bounced after heavy declines, helping stabilise markets at the end of a volatile week marked by sharp risk-on and risk-off swings. For the week, the Nasdaq still ended down 0.5 per cent, while the S&P 500 and Dow posted small gains, though investor concerns grew over stretched AI valuations and whether growth expectations are outpacing companies’ ability to deliver.
Broader sentiment remained fragile as traders reassessed interest rate expectations ahead of the Federal Reserve’s December meeting. The probability of a quarter-point cut has fallen below 50 per cent, down sharply from earlier weeks, as policymakers warn that inflation may remain too sticky for further easing. The end of the historic U.S. government shutdown brought only brief relief, with investors now facing delayed or potentially missing economic data just as inflation and jobs reports return to the calendar. In Australia, the S&P/ASX 200 is set to open 0.2 per cent lower after a 37 billion dollar sell-off on Friday pushed the benchmark to its lowest level since mid-July.
In company news,
Alcidion expands Miya Precision contract with Leidos Australia
Alcidion Group (ASX:ALC) has expanded its contract with Leidos Australia to supply additional Miya Precision software modules that will support Leidos in delivering further solution components to the Commonwealth of Australia. The extension adds total contract value of $12.3m through to June 2028, including $2.5m in additional annual recurring revenue and the balance as implementation revenue, with $5.5m–$6.5m expected to be recognised in FY26. The new term aligns with Alcidion’s larger existing Leidos contract, which has potential extensions out to 2036, reinforcing a long-duration revenue pipeline and deeper embedded use of Alcidion’s clinical decision support technology across Australian healthcare settings
Ordell launches 10,000m drilling campaign at Barimaia’s McNabs East
Ordell Minerals (ASX:ORD) has kicked off a major 10,000m multi-pronged drilling campaign at its Barimaia Gold Project near Mt Magnet in Western Australia, focused on growing the McNabs East prospect and testing a +7km corridor of prospective granodiorite intrusions. The program includes ~5,000m of air-core drilling over ~3km of strike, ~3,000m of RC drilling to infill and extend shallow mineralisation at McNabs East, additional RC west of McNabs, and diamond drilling to test high-grade strike and plunge extensions, complemented by an aeromagnetic survey. Early diamond results from four of seven recent holes include 32.6m at 0.90g/t Au from 256.95m and 8.9m at 2.10g/t Au from 159.13m, extending the mineralised zone to the east and confirming that McNabs East remains open along strike and down plunge.
Hastings confirms high-grade near-surface gold at Seven Leaders
Hastings Technology Metals (ASX:HAS) reports that recent RC drilling at the Seven Leaders prospect, part of the Whiteheads gold project and the first drilling there since 2019, has returned multiple high-grade, near-surface gold intersections over more than 250m of strike. Notable results include 5m at 15.17g/t Au from 27m, 35m at 1.94g/t Au from surface and 17m at 2.17g/t Au from 17m, with mineralisation remaining open along strike and at depth. The modern drilling has generally improved on historical grades and thicknesses and is feeding into geological modelling and a maiden JORC 2012 Mineral Resource Estimate due in December 2025, which will underpin mine design, approvals and a production schedule, alongside a proposed transaction to vend Hastings’ gold assets into Metal Bank.
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Source: Finance News Network
