Hot Stocks: James Hardie, EMVision, Meeka Metals

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Wall Street kicked off the second half of 2025 on a mixed note, with investors rotating out of tech and into health care and financial stocks. The Dow Jones led the way, gaining 0.91% or 400 points to close at 44,494.94, while the S&P 500 dipped 0.11% and the Nasdaq fell 0.82%, pulling back after a strong tech-driven second quarter. Health care stocks such as Amgen, UnitedHealth, and Merck posted strong gains, while Tesla slumped more than 5% following renewed criticism from President Trump. Financials rallied, with the KBW Bank Index recording its ninth straight gain, the longest on record, as JPMorgan Chase unveiled a US$50bn buyback and dividend hike.

Markets also absorbed key macro developments, including the Senate’s narrow passage of Trump’s US$3.3 trillion tax and spending bill, which now heads back to the House. Fed Chair Jerome Powell, speaking in Portugal, said rate cuts were paused due to the inflationary impact of tariffs, and reiterated a data-dependent outlook. In currency markets, the euro’s rally stalled after strong US labour data lifted the dollar.

What’s ahead in Australia

Australian shares are set to open higher, with ASX futures up 18 points, or 0.2%, to 8,558. Retail trade and building approvals data are due, with NAB tipping a 0.6% rise in May retail sales.

James Hardie closes AZEK deal, creating outdoor living powerhouse

James Hardie (ASX:JHX) has completed its US$8.4bn acquisition of The AZEK Company in a cash-and-stock deal, expanding its position in the exterior home and outdoor living solutions market. The transaction brings together leading brands such as Hardie®, TimberTech®, and AZEK® Exteriors, significantly enlarging its total addressable market and offering commercial and cost synergies. AZEK’s stock is no longer trading, and integration leadership appointments have been made. Guidance on the acquisition’s financial contribution will be provided during the company’s Q1 FY26 earnings call in August.

EMVision nears FDA breakthrough with emu™ brain scanner trial

EMVision (ASX:EMV) announced strong progress in its Pivotal (Validation) Trial for the emu™ bedside brain scanner, with five of six sites now actively enrolling patients and the sixth site preparing to begin. The trial is designed to support FDA De Novo clearance and includes up to 300 suspected stroke patients across top stroke centres in the US and Australia. Simultaneously, a Continuous Innovation Study has commenced to support product development and expand indications to traumatic brain injury. This dual-track approach is expected to aid future commercialisation, including a second-generation First Responder device.

Meeka achieves first gold pour at Murchison project

Meeka Metals (ASX:MEK) has poured first gold at its Murchison Gold Project in Western Australia, on schedule and within 12 months of initial groundworks. The project continues to ramp up smoothly, with open pit ore stocks building and underground mining at Andy Well expected to begin in Q3. The company is targeting production of 80koz per annum, with a definitive feasibility study previously outlining a US$1bn free cash flow potential over a 10-year plan.