Asx wins on iron ore gains, China growth surprise, healthcare sold on Trump risk

The local market managed another positive day, as yesterday’s losers became today’s winners. The healthcare and tech sectors were the weakest, falling 0.5 and 0.4 per cent respectively, while materials gained strongly, adding 1.2 per cent. The biggest driver was a stronger-than-expected result from the Chinese manufacturing sector, which supported iron ore prices and boosted the likes of BHP Group Limited (ASX: BHP) to solid gains, adding more than 1 per cent. The banking sector also resumed its positive trend, with both Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Limited (ASX: NAB) rallying strongly despite the Reserve Bank of Australia (RBA)’s decision to hold rates. Gold miners also supported the materials sector, with prices hitting US$3,330 per ounce once again, and Evolution Mining Limited (ASX: EVN) gaining close to 4 per cent. Lifestyle Communities Limited (ASX: LIC)posted a rebound, gaining over 9 per cent after a difficult week for the retirement living group.

Telix to avoid tariff hit, CSL under pressure, Imricor smashed on FDA delays

Healthcare technology company Pro Medicus Limited (ASX: PME) has continued its recent charge, adding more than 1 per cent and moving beyond 320 dollars per share once again. This comes amid growing concern of US tariffs and their potential impact on Australian healthcare leaders. CSL Limited (ASX: CSL) was weaker, falling 0.8 per cent, as concerns about the impact of a 200 per cent tariff by the US continue to linger. Shares in cardiac catheter group Imricor Medical Systems Inc (ASX: IMR) were among the weakest performers, with the shares dropping 15 per cent after the company announced a delay in expected US FDA approvals. Telix Pharmaceuticals Limited (ASX: TLC), on the other hand, stands out as a company likely to be exempt from the changes and has been a short-term beneficiary.

S&P 500 rallies to record, Apple, Tesla gain, NVIDIA chief meets Trump

The S&P 500 Index (NYSE: SPX) rallied to another all-time high overnight, gaining 0.3 per cent as the surge in mega-cap tech continued. Tesla Inc (NASDAQ: TSLA) posted a 4 per cent gain after the company flagged plans to expand its Robotaxi service to two more cities. Apple Inc (NASDAQ: AAPL) moved higher, boosting the NASDAQ Composite Index (NASDAQ: IXIC) to a 0.1 per cent gain, after the company disclosed it was planning on a massive rollout of new iPhones, iPads, and Macs. NVIDIA Corporation (NASDAQ: NVDA) remained above US$4 trillion, with CEO Jensen Huang meeting with President Donald Trump ahead of a planned visit to China in the coming days, while JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon warned that markets appear to be ‘complacent’ with tariffs and that a deal between the US and Europe ‘needs to get done’.