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Overnight, Wall St surged after the Federal Reserve officially approved a quarter percentage point cut to the interest rates, bringing the rate to the range of 3.50% – 3.75%. The Dow Jones rallied 1.1% on the news, the S&P500 jumped 0.8% and closed just shy of its all-time high, and the Nasdaq gained 0.5%. In his remarks, Chairman Jerome Powell ruled out any chance of a rate increase in 2026, and investors are betting that there will be at least one, if not multiple rate cuts to come next year – a bullish sign for equities.

Europe saw another relatively stable trading session – the Stoxx600 index closed up 0.1%, as  the FTSE advanced by a similar amount while the German DAX and French CAC declined by 0.1% and 0.4% respectively.

And in Asia, the CSI fell 0.1%, the Hang Seng gained 0.4% and the Nikkei fell 0.1%.

Locally yesterday, the ASX200 edged down 0.1%, however it was only the high flying materials sector which prevented greater losses on the day, as 9 of the 11 key sectors posted losses on the day. Gold miners were particularly strong in the wake of the Fed’s rate cut, with big names Newmont (ASX:NEM) and Northern Star (ASX:NST) increasing 4.4% and 5.1%.

What to watch today:

• Looking ahead to today, the ASX is expected to follow Wall St’s strong session, with the SPI futures indicating a 0.9% jump at the open of trade today.
• Moving over to commodities,
  • Crude Oil has jumped 1.25% to US$58.98 per barrel, continuing its pattern of volatility over recent weeks.
  • Precious metals were buoyed by the rate cuts, with Gold advancing 0.5% to US$4227 per ounce, while Silver has jumped another 1.9% to further extend on its already record high price, and is now trading at US$61.80 per ounce.
  • And Iron Ore is trading up 0.4% to US$106.66 per tonne.

Trading Ideas:

• Bell Potter maintains a speculative Buy rating on emerging online marketplace operator Frontier Digital Ventures (ASX:FDV), with a 12 month price target of 57c per share, based on their projected revenue streams moving into CY26.
• And Trading Central have identified a bullish signal in Newmont Corporation (ASX:NEM), indicating that the price may rise from the close of $139.10 per share to the range of $160 – $164 per share over a period of 25 days, according to the standard principles of technical analysis.