US stocks extended their late-month rebound on Friday, with all three major indices closing higher in a shortened post-Thanksgiving session. The Nasdaq gained 0.65% but still finished November nearly 2% lower, ending a seven-month winning streak. In contrast, the S&P 500 and Dow recorded modest monthly gains, each marking a seventh straight month of increases. For the week, all three indices advanced strongly, supported by stabilising sentiment after earlier volatility in tech stocks and profit-taking in AI-exposed names. Market confidence improved as investors priced in an 80% to 85% chance of another quarter-point US rate cut in December, which would be the Federal Reserve’s third consecutive reduction. Comments from New York Fed President John Williams added to expectations that easing could extend into early 2026.
Locally, Australian shares are set to edge higher at the open after a soft November, with attention turning to Wednesday’s GDP figures. Economists expect solid quarterly and annual growth, and a result near consensus would suggest the Reserve Bank is likely to keep rates steady as domestic demand remains firm.
In company news,
DevEx builds dominant 9,200km² uranium position in the Alligator Rivers Province
DevEx Resources (ASX:DEV) has entered a binding agreement to acquire Alligator Energy’s entire uranium exploration tenure in the Alligator Rivers Uranium Province (ARUP) in the Northern Territory, creating a contiguous 9,200km² landholding surrounding the historic Nabarlek Uranium Mine. The ARUP is one of Australia’s most prospective uranium regions, with more than 700Mlbs of known endowment. The acquisition unifies multiple high-grade corridors, including the U40, Angularli, Nabarlek, and Orion fault zones, and brings into DevEx’s portfolio several historical uranium prospects, including the Caramal deposit with a previously reported (JORC 2004) inferred resource of 6.5Mlb at 0.31% U3O8. Combined with DevEx’s recent purchase of Rio Tinto’s adjacent ground, the acquisition gives DevEx one of the most dominant positions in the district and positions the company for a large-scale exploration campaign using historical high-grade intercepts as a foundation.
Tungsten Mining confirms major new exploration target at Mt Mulgine
Tungsten Mining (ASX:TGN) has defined a new Exploration Target of 165–200Mt at 0.10–0.12% WO3 and 180–220ppm Mo at the Mulgine Trench deposit, equivalent to 165–240kt of contained WO3. The target is additional to the existing 247Mt Mineral Resource (2020) and reinforces Mt Mulgine as a globally significant critical-minerals project. Drilling over a 1.4–1.5km strike has confirmed thick, continuous tungsten–molybdenum mineralisation open at depth and along strike, with high-grade domains associated with a Lower Tungsten–Molybdenum zone. This new target supports ongoing studies toward a mid-2026 Pre-Feasibility Study and positions Mt Mulgine as a potential long-life tungsten supply hub. Further drilling is planned in early 2026 to deepen and extend the resource base.
Emmerson extends high-grade gold and copper zones at Hermitage
Emmerson Resources (ASX:ERM) has delivered strong drilling results from its 100%-owned Hermitage Project in the Tennant Creek Mineral Field, intersecting high-grade gold up to 43.1g/t, wide copper–cobalt–bismuth zones, and substantial multi-element mineralisation. Significant intercepts include 53m at 0.90% CuEq, 17m at 1.23% CuEq, and a standout 9m at 13g/t gold. Drilling succeeded in extending mineralisation down-plunge to the west and shallowly to the east, while also highlighting the potential for multiple revenue streams through by-product metals such as cobalt, bismuth, and silver. With mineralisation still open in several directions, Emmerson plans further modelling, resource estimation and a scoping study in conjunction with partners CUF and TMS.
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Source: Finance News Network
