1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Key points:
Market momentum slows; banks up, resources downTrump's tariffs and AI investment drive share reactionsUranium and gold stocks report performance amid tariffs
The local market is losing momentum as the afternoon session progresses. The Sibo 200 shows a modest gain of 0.3%. Banks are positive, with CBA rising, but resources like BHP (ASX:BHP), Fortescue (ASX:FMG), and Rio (ASX:RIO) dip over 1%. Woodside (ASX:WDS) drops 2%, while CSL (ASX:CSL) also drags.
President Donald Trump announces a 10% tariff on Chinese goods starting February, aiming to address fentanyl distribution. Trump also announces a $500 billion private sector investment for AI infrastructure, with OpenAI, SoftBank, and Oracle collaborating on Stargate, expected to generate 100,000 jobs. Oracle (NYSE:ORCL) and Nvidia (NASDAQ:NVDA) shares gain from this news.
Uranium stocks soar as Paladin (ASX:PDN) and Boss Energy (ASX:BOE) benefit from US tariffs on Canadian uranium. Paladin confirms its FY25 production guidance despite lower output from the Langer Heinrich mine. Gold producers like West African Resources (ASX:WAF) meet targets, with Evolution Mining (ASX:EVN) facing challenges. Regal Partners (ASX:RPL) sees a 64% rise in funds under management.
