Markets Today (07 January 2026) at Open: Key Trends from Wall Street to ASX

1. ASX 200 Snapshot – A Positive Start

The ASX 200 (XJO) is trading at 8,720.6 points, up 37.8 points or +0.44%. The Australian market is starting the day on a strong note, supported mainly by global market strength and rising commodity prices.

2. Global Markets – Mostly Positive and Providing Support

Although the ASX is flat, global markets are showing strength, which can help support the Australian market later in the day.

US Major Indices

• Dow Jones: up +0.99%, hitting fresh all-time highs
• S&P 500: up +0.62%, also at all-time highs
• Nasdaq: up +0.65%
• Russell 2000 (small companies): up +1.37%

The US market closed higher across the board, reflecting optimism — often a positive sign for the ASX because global sentiment flows into Australia’s trading day.

3. Commodities – Strong Gains

The most important theme right now — and especially important for Australia — is a strong commodity rally

• Gold: +1.10%
• Silver: +6.05%
• Copper: +1.30%
• WTI Oil: -2.30%

Australia is a resource-heavy market. When commodities rise, ASX mining and materials stocks usually outperform, lifting the overall index.

4. What to Watch on the ASX Today – Key Sectors

A. Uranium – Strong Momentum Continues

• URA (Uranium ETF) is up ~15% over the last three sessions
• Still ~15% below its mid-October high, meaning there may still be room to move
• Recent volatility, but newsflow has turned positive
• US Department of Energy awarded US$2.7 billion in funding to nuclear fuel producers.

B. Nickel – One of the Strongest Stories Right Now

Nickel is a major focus today.

• Nickel prices made a massive overnight move
• Sprott Nickel Miners ETF surged 6.4%
• Now at its highest level since inception (March 2023)

C. Lithium – China Driving the Move

• Chinese lithium carbonate futures hit limit up
• Prices jumped ~9% to 137,940 yuan per tonne

Impact on ASX:

• Pilbara Minerals (PLS) surged 9.5%
• Shows how sensitive lithium stocks are to China pricing.

D. Copper – Broad ASX Speculative Interest

• Copper ETF (COPX) is up 1.8% to all-time highs
• Some large copper names look a bit slower, but speculative ASX stocks are running hard.

5. Economic Events to Watch Today (AEDT Times)

Australia:

• 11:30 am – Building Permits (November)
• 11:30 am – Inflation (November)
  • Expected 3.7%, down slightly from 3.8% in October

United States (Overnight):

• 2:00 am – ISM Services PMI (December)
• 2:00 am – JOLTS Job Openings (November)

Summary:

• ASX is higher today, supported by strong global markets
• US markets at all-time highs are boosting confidence

• Commodities are the main driver, especially: Copper Nickel Lithium Uranium

• ASX resource stocks are the key area to watch today

• Economic data later today may influence market volatility.

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