Lunch Wrap: ASX Fires Up on Albo-Trump Handshake
The ASX climbed as Albo's White House handshake with Trump lit up the miners, gold broke records, and heavyweights like BHP showed muscle.
Deal done: Albo and Trump's handshake cements a billion-dollar critical minerals pact.
ASX rallied around +0.6% this Tuesday lunchtime in the East, catching the vibes from Wall Street. Over in the US, the mood last night was bullish, with the S&P 500 Dow Jones and Nasdaq all popping over 1% higher.
This morning, the miners were the big winners, led by a rare-earths surge that's got the market doing a double-take. Because a diplomatic handshake between Anthony Albanese and Donald Trump has translated into cold, hard mineral money.
Australia and the US will each throw in about US$1 billion over the next six months into projects here, including a gallium plant in WA and a rare earths mine up in the NT.
The two nations signed a critical-minerals framework.
Author's summary: ASX rises after Albo-Trump handshake.