Good Evening,

Welcome to Equity Espresso’s Daily Market Recap. Markets climbed today as Trump shifted from trade warrior to peace negotiator, with equities back in vogue. Have we turned the corner? Let’s jump in.

Local Market

The Aussie market surged today, bringing the 8,000 mark back within reach, as hopes for easing U.S.-China tensions lifted investor sentiment. The S&P/ASX200 index jumped 103.8 points or 1.3% to 7,920.5, buoyed by a strong rally on Wall Street and encouraging comments from U.S. President Donald Trump, who indicated that tariffs on China would be reduced from their current 145% rate.

Energy (+4.47%) and Technology (+3.89%) were the sharpest falls yesterday, but led the pack today. Uranium stocks got some much-needed, overdue love, with Paladin Energy (+25.13%) and Deep Yellow (+11.98%) a couple of the big movers. In the Technology sector, Wisetech Global (+5.94%), Life360 (+4.65%) and NextDC (+4.96%) were the best performers.

Gold prices eased below US$3,340 on Wednesday as the trade tensions eased overnight, sending flows out of the safe-haven asset and into equities.

President Donald Trump announced Tuesday that U.S. tariffs on Chinese imports will be reduced "substantially" from their current 145% rate. "It won't be that high, not going to be that high," Trump stated during an Oval Office press conference.

The President expressed optimism about reaching a tariff agreement with China "pretty quickly" and indicated a willingness to compromise during upcoming negotiations, saying he wouldn't "play hardball."

Yesterday, we asked Are you buying gold (or gold miners) right now? Here are the results:

• Yes - it still has more to run - 50%

• No - it will trade sideways from here - 31%

• No - it has run too hot and will fall - 13%

• Yes - but only a minor amount - 6%

DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and should not be considered financial advice. It is not intended to encourage you to buy/sell assets or make economic decisions. We strongly recommend conducting your own research before making any investment.