Wall Street recorded a positive session as the EU and the US appeared to edge closer to a trade deal – believed to be similar to the deal penned with Japan. 15% broad tariff which could extend to cars. S&P 500 up 0.78%, Nasdaq up 0.61%. Dow steadily rose throughout the day. Closed near high, up 508 points. Strong and broad sector strength. REITS flat, otherwise all positive. Healthcare once again led the charge upwards, 4% in two days, tariff optimism a boost – pharmaceutical tariffs still yet to be announced but EU developments an indirect benefit. Energy also did well despite oil falling. Similarly, Utilities and Financials rose despite yields ticking up. Whole market enthused by EU-US developments.

ASX to rise. SPI futures up 18 points (+0.21%). Quarterlies in Focus. FMG, MQG AGM.

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