Freeport McMoran (FCX US)

24/07/2024

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Weekend report 09/05/2026

Weekend Q&A: The ASX continues to tread water while US tech stocks surge to new highs

The ASX200 experienced a choppy week, ultimately closing up +0.2% following Fridays triple-digit loss as tensions between the US and Iran took a turn for the worse. The local index was threatening to break out toward fresh highs on Thursday before yesterday’s -1.5% sell-off, leaving the market stuck in the 8600-9000 trading range where it’s now looked comfortable for more than a month. The rate-sensitive stocks continue to weigh on the ASX with retail and real estate continuing to drag the local index back despite the best efforts of the miners which saw the materials sector gain +4.3% through the week, with more set to come on Monday.

Afternoon report 08/05/2026

The Match Out: Peace trade unwinds as the ASX gives back the week’s gains

A tough day on the ASX today, with geopolitical risk firmly back in the driver's seat. Fresh US-Iran clashes in the Strait of Hormuz sent oil prices higher and unwound the peace trade that had supported market over the last few days.