AU Morning Wrap: Banks, Real Estate Rebounds, Uranium Stocks Rally

The $S&P 500 Index(.SPX.US)$ rebounded 1.2%. The $Dow Jones Industrial Average(.DJI.US)$ gained about 370 points, or 1%, fully recovering from Wednesday's decline. That marked a new all-time high for the Dow, its eighth record close of 2024. The $Nasdaq Composite Index(.IXIC.US)$ climbed 1.3%. Eight out of 11 sectors of the S&P 500 rose at least 1%.

$S&P/ASX 200(.XJO.AU)$ added 0.5 per cent at the open on Friday, with financials including the banks recovering 0.7 per cent as investors watch for signs of contagion around bad debt exposure to US commercial property.

$Boss Energy Ltd(BOE.AU)$, $Paladin Energy Ltd(PDN.AU)$ soared on a new uranium price rally, the spot price neared 16-year highs again at $US106.25 per pound after Kazakh giant Kazamprotom warned again about production challenges in 2024.

$Pinnacle Minerals Ltd(PIM.AU)$, the asset manager, jumped 5 per cent after it revealed affiliates' funds under management topped $100 billion in December and reported a flat half-year profit.

Trading Ex-div: $Australian Foundation Investment Co Ltd(AFI.AU)$, $Euroz Hartleys Group Ltd(EZL.AU)$, $Nickel Industries Ltd(NIC.AU)$

Listing: $Capstone Copper Corp(CSC.AU)$