Wall Street ended last week on a mixed note as renewed weakness in artificial intelligence stocks dragged the Nasdaq lower while the Dow and S&P 500 edged higher. The Nasdaq Composite fell 0.21% to 23,004.54, marking its worst weekly performance since early April. The S&P 500 rose 0.13% to 6,728.80 and the Dow added 0.16% to 46,987.10 after rebounding from heavier losses earlier in the session. Investor sentiment remained fragile amid a record 40-day U.S. government shutdown, with Senate Minority Leader Chuck Schumer proposing a temporary funding deal to reopen federal operations.
Economic data pointed to weakening conditions, with consumer sentiment near historic lows and job cuts at a 22-year high for October. The shutdown has also disrupted air travel, prompting a 10% cut to flights at 40 major airports. The lack of official economic data has deepened uncertainty, weighing on market valuations. Looking at the local market, futures point to a 0.3% rise in the Australian sharemarket.
In company news,
AGL sells Tilt Renewables stake for $750m to fund energy transition
AGL Energy (ASX:AGL) has agreed to sell 19.9% of its 20% equity in Tilt Renewables to existing shareholders led by Queensland Investment Corporation and the Future Fund for $750m. The transaction aligns with AGL’s capital recycling strategy and will fund investments in flexible, dispatchable capacity as part of its 6GW renewables and firming target by FY2030. AGL retains a small stake in Tilt and has formalised a strategic partnership to support Tilt’s expanding renewable portfolio, including long-term power purchase agreements for projects such as the Palmer and Waddi Wind Farms. Completion is expected by Q3 FY26 pending regulatory approval.
Antipa extends high-grade gold zones at Minyari Dome
Antipa Minerals (ASX:AZY) has reported more strong assay results from its 100%-owned Minyari Gold-Copper Project in Western Australia’s Paterson Province. Highlights include 53m at 1.9g/t gold and 0.08% copper from the Fiama deposit and 28m at 1.9g/t gold and 0.17% copper at Minyari. These intersections extend mineralisation down-dip and along strike, strengthening the growth potential of the Minyari Dome system, which already hosts 2.4Moz of gold. Pre-feasibility drilling is nearly complete, with further assays due before year-end and an updated mineral resource estimate scheduled for Q4 2025.
DroneShield wins $7.6m U.S. government order for counter-drone systems
DroneShield (ASX:DRO) has secured $7.6m in new U.S. Government contracts for its handheld counter-drone systems. All equipment is expected to be delivered in Q4 2025 with payment by early 2026. The repeat order follows previous contracts worth $5.7m and $7.9m, underscoring growing demand for DroneShield’s AI-enabled drone defence technology. The company has also expanded production capacity toward $2.4bn annually by 2026 and continues developing its new AI software platform, RFAI-ATK, which will enhance autonomous threat response capabilities.
