US sharemarkets rose on Monday as a new month of trading began, with investors looking past recent volatility in metals and cryptocurrencies. The Dow Jones Industrial Average climbed 515 points, or 1.05%, to 49,407.66. The S&P 500 rose 0.54% to 6,976.44, while the Nasdaq Composite added 0.56% to 23,592.11.
Gains were supported by stronger US manufacturing data, with activity expanding at its fastest pace since 2022. Consumer staples and industrials led the market higher, with Caterpillar, Walmart and Visa among the strongest Dow performers.
Risk sentiment steadied after heavy selling late last week in silver, gold and bitcoin. Bitcoin dipped below $80,000 before rebounding to around $78,000, while gold and silver were down about 4% and 5% but well above Friday’s lows.
Australian shares are set to open higher, with ASX 200 futures up 97 points, or 1.11%, at 8,829. Locally, attention turns to the Reserve Bank of Australia’s policy decision and Statement on Monetary Policy this afternoon, alongside building approvals data. In New Zealand, December building permits are due this morning.
In company news,
Galileo confirms shallow PGE mineralisation at Norseman
Galileo Mining (ASX:GAL) reported drill results confirming shallow palladium-platinum-gold mineralisation at the Mission Sill prospect within its 100 per cent-owned Norseman project in Western Australia. Recent RC drilling returned broad intersections above 1 gram per tonne three-element PGE, reinforcing the view that Mission Sill could represent the near-surface expression of a larger mineralised system at depth. The company plans diamond drilling beneath the existing Callisto resource and new metallurgical test work, supported by higher PGE and base metal prices since the last resource estimate.
Biome expands Canadian reach and advances proprietary clinical program
Biome Australia (ASX:BIO) announced two developments strengthening its medium-term growth strategy. The company secured approval to distribute its full Activated Probiotics range on Fullscript Canada, giving access to more than 100,000 practitioners and around five million patients and completing nationwide coverage when combined with its existing Ecotrend wholesale partnership. Separately, Biome received ethics approval to commence a 240-person, randomised, double-blind clinical trial of its proprietary probiotic strain BMB18, fully owned intellectual property that the company aims to commercialise across multiple product categories. The trial is scheduled to begin in February and is being funded within existing budgets, adding potential long-term value if results are positive.
Rhythm Biosciences strengthens ColoSTAT manufacturing pathway
Rhythm Biosciences (ASX:RHY) advanced commercial preparations for its colorectal cancer screening test ColoSTAT after securing a manufacturing partnership with Quansys Biosciences. The agreement supports assay production as Rhythm progresses its ColoSTAT Access Program and continues regulatory and commercial discussions. The partnership adds execution credibility to Rhythm’s strategy of moving ColoSTAT from development into broader clinical use, with further updates expected as regulatory milestones are reached.
