Market Wrap / damage controlled?

The Trump Administration's mixed messaging on its Tariff approach still left markets optimistic that the trade war with China could de-escalate. 

Locally, the S&P/ ASX 200 finished this shortened trading week higher, closing in on the 8,000 points psychological mark. It was up 0.6% this Thursday. 

The miners had a good session, with iron ore prices back above $US100/t. BHP ticked 0.9% higher. Iluka, IGO and Lynas Rare Earths advanced as Anthony Albanese flagged the idea of Australia developing a Critical Metals Reserve.

And the gold players were in the green following the previous session’s profit taking. Newmont ended 3.5% higher while reiterated its FY25 guidance and distributed a quarterly 25 cent dividend.

Among other companies reporting quarterly results, ResMed had a better-than-expected result, with revenue increasing 8% to $1.3 billion driven by increased demand for sleep devices and masks. The stock was one of today's best performers with a 8.5% uptick in share price. 

After a shortened trading week, the rhythm will intensify next week ahead of the Federal Election. Just before that, we’ll receive PMI, PPI and trade data, along with a raft of quarterly reports including Brambles, Northern Star Resources, Coles and IGO.

Overseas, Google results tonight are the warm-up act ahead of Apple, Meta and Microsoft next week.