US stocks rose on Tuesday as gains in bitcoin and major technology names helped markets claw back some of Monday’s losses. The Dow added 185 points, the S&P 500 rose 0.25%, and the Nasdaq gained 0.59%. Bitcoin rebounded about 7%, while AI-linked tech stocks strengthened, with Nvidia up nearly 1% and Credo Technology jumping 10% to an all-time high after strong earnings. The session was volatile, with all three indexes briefly dipping into the red as concerns over inflation, valuations and AI spending lingered. Even so, investors are searching for catalysts that could support a potential year-end rally.
In Australia, shares are set to open slightly higher, with SPI200 futures up 0.2% to 8607. The main event on today’s calendar is the release of GDP figures at 11.30am, with Bloomberg forecasting 0.7% quarterly growth and Westpac expecting the fastest pace of business investment since 2012. WiseTech Global holds its investor day, and Eurozone producer price data is due at 9pm.
In company news,
TechGen Metals uncovers high-grade gold at Armstrong
TechGen Metals (ASX:TG1) reports exceptionally high-grade rock-chip results from the Armstrong Prospect at Dalgaranga, including 39.3g/t, 25.8g/t, 12g/t, 8.89g/t, and 7.85g/t Au from quartz-vein material in and around a historic open pit. The prospect sits on the regionally significant Karbah Shear Zone, which also hosts major deposits such as Ramelius Resources’ Dalgaranga mine and Westgold’s Big Bell. No drilling has ever been conducted at Armstrong, and the presence of multiple untested workings and a newly mapped 70m-long quartz vein suggests substantial exploration upside. TechGen plans geochemistry and target definition ahead of drilling next year.
Mount Burgess begins drilling at Viking’s high-grade oxide zone
Mount Burgess Mining (ASX:MTB) has commenced RC drilling at the Viking Gold Project, 30km southeast of Norseman. The initial 10-hole program is designed to evaluate the high-grade shallow oxide zone at the Beaker 2 prospect, which has previously returned standout intercepts including 6m at 64g/t Au from 50m and 4m at 15.4g/t Au from 40m. The company considers the shallow supergene zone under-tested and sees potential for near-term resource definition. Viking is part of a newly acquired portfolio from Metal Hawk and Falcon Metals, which have become major shareholders. The drilling campaign is described as the company’s first major deliverable under its planned rebrand to Talonx Resources.
Hazer extends POSCO partnership to advance low-carbon steelmaking
Hazer Group (ASX:HZR) has extended its non-binding Memorandum of Understanding with global steelmaker POSCO for another two years, reinforcing their partnership to integrate Hazer’s clean hydrogen and low-emissions graphite technology into POSCO’s decarbonised steelmaking pathway. The extension follows a successful period of testing in which POSCO trialled Hazer’s graphite across several steelmaking and industrial applications with promising results. Hazer’s methane-to-hydrogen process, which co-produces high-purity graphite using iron ore as a catalyst, is being assessed for potential use in both blast furnace and DRI/EAF steelmaking routes, supporting POSCO’s target of achieving carbon neutrality by 2050.
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Source: Finance News Network
