Swingfolio Daily
ASX briefings — Friday 29 May 2026
Morning setup and afternoon close recap for Friday 29 May 2026. Observations only — no trade advice.
Friday 29 May 2026
ASX set to rebound as Wall Street hits records and gold steadies: Friday 29 May 2026
Wall Street set fresh records overnight, with the S&P 500 up 0.58% and the Nasdaq up 0.91%, led by a 36% surge in Snowflake and hopes for a US-Iran ceasefire extension that outweighed a 35-month-high US inflation print. SPI futures point to a 0.65% ASX 200 open, and gold's rebound to US$4,527/oz offers relief to the local gold miners that fell 7% to 10% on Thursday.
ASX 200 rebounds 1.62% as oil slides on a tentative Iran ceasefire
The ASX 200 recovered most of Thursday's loss, closing up 1.62% at 8,731.7 as a slide in oil on a tentative US-Iran ceasefire extension turned the market risk-on. Materials led at +2.9% with gold miners bouncing 4% to 11% and 4DMedical surging 18.86% on a US imaging deal, while energy was the only weak spot as Brent headed for its biggest monthly drop since 2020.