Index Update: The Australian share market is poised for a positive start on Friday after a strong session on Wall Street. The S&P/ASX 200 is trading higher today, rising 53.60 points or 0.60% to 9,021.30. Over the past five trading sessions, the benchmark index has climbed 2.84% and is currently trading 1.97% below its 52-week peak. Seven out of the 11 sectors are trading higher alongside the S&P/ASX 200 Index. The Materials sector is leading the gains, rising 2.87% in today’s session and advancing 3.42% over the past five trading days.
Macro Update: The Middle East tensions escalated after the United States and Saudi Arabia carried out coordinated airstrikes against Iran-backed militias in Iraq. The strikes came after an Iranian missile attack on a US base in Jordan, which officials said was successfully intercepted. Multiple media reports indicated that the operation targeted militia-linked logistics and weapons sites, resulting in several casualties. US President Donald Trump warned that additional military measures could be taken if attacks on American personnel and regional assets persist.
Top Market Movers: Megaport Ltd (ASX:MP1) led the gainers, rising 8.317% to AUD 17.580, followed by Silex Systems Ltd (ASX:SLX), up 8.134% to AUD 4.520, and Capstone Copper Corp (ASX:CSC), which gained 8.059% to AUD 13.810. Among the decliners, Domino's Pizza Enterprises Ltd (ASX:DMP) fell 4.959% to AUD 18.69, News Corporation Class B Voting (ASX:NWS) declined 2.831% to AUD 45.31, while WiseTech Global Ltd (ASX:WTC) dropped 2.824% to AUD 36.82.
Commodity Update: The U.S. dollar strengthened after the Federal Reserve kept interest rates unchanged, with Chair Jerome Powell reiterating that future monetary policy decisions will remain guided by incoming economic data. Precious metals traded mixed, with gold edging down 0.08% to USD 4,100.00 per ounce, while silver gained 0.09% to USD 59.06 per ounce. Industrial metals also strengthened, with copper rising 0.53% to USD 6.4786 per pound, supported by improving sentiment toward industrial demand.
In the energy complex, WTI crude oil advanced 0.60% to USD 84.10 per barrel, while Brent crude climbed 0.60% to USD 87.40 per barrel, reflecting continued support from tighter global supply expectations despite recent weekly declines. Meanwhile, natural gas was broadly unchanged, up 0.05% to USD 2.7593 per MMBtu, as traders balanced ample inventories against seasonal demand expectations.
Our Stance: The Australian share market gained momentum on Friday, with the S&P/ASX 200 rising 0.60% to 9,021.30, supported by strength in materials and technology stocks. The index’s 2.84% five-day advance highlights improving market sentiment, while commodity movements and global rate expectations remain key drivers for near-term direction.
The S&P/ASX 200 declined 70.90 points in the latest trading session, forming a bearish candlestick that reflects cautious investor sentiment and near-term profit-taking. Despite the pullback, the broader technical outlook remains constructive, with the index continuing to trade comfortably above its 21-day Simple Moving Average (SMA), which continues to act as a key dynamic support level and reinforce the prevailing medium-term uptrend. Immediate support is seen around the 8,900.00 level, and maintaining trade above this zone would help preserve the broader bullish structure while keeping the potential for renewed upside momentum intact. A sustained rebound from this support area could pave the way for a retest of the recent highs and potentially extend the ongoing rally. However, a decisive break below the 8,900.00 support level would weaken the near-term technical outlook, likely intensifying selling pressure and increasing the risk of a deeper corrective phase.







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