Wall Street recorded a modestly positive session against a backdrop of continued tariff uncertainty and threats and renewed Trump pressure on Powell to cut rates and/or step down. S&P 500 up 0.14%, Nasdaq up 0.27%. Dow steadily rose from the open, in a choppy morning session but found consistency toward the end of the day. Finished near the high, up 88 points. Financials best performing sector, Q2 earnings seasons kicks off tomorrow Australian time, expected to be positive. REITS, a correlated sector and once part of Financials in GICS classification, was the second best performer, followed then by Industrials and Utilities. Energy the worst, followed oil down lower.
Resources down. Oil dropped as Trump gave Russia 50 days to agree a peace deal or face new sanctions. Stronger dollar did not help resources. Copper, nickel and tin all fell.
ASX to rise. SPI futures up 51 points (+0.6%). Bitcoin hit new highs at over $120k, up 2.2%.
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