Hot Stocks: New Murchison Gold, OncoSil Medical, Silk Logistics

Wall Street ended the holiday-shortened week on a high, with strong jobs data and robust tech gains lifting US markets to fresh records. The S&P 500 rose 0.83% to 6,279.35 and the Nasdaq gained 1.02% to 20,601.10, both setting new closing highs, while the Dow Jones added 344 points, or 0.77%, to finish at 44,828.53. For the week, the Dow led with a 2.3% gain. Big tech stocks, particularly Amazon, Microsoft and Nvidia, continued to drive momentum, with six of the seven “magnificent” mega-cap names closing higher.

Investor sentiment was further buoyed by a stronger-than-expected US jobs report, which showed 147,000 new nonfarm payrolls in June, exceeding forecasts and up from May’s revised 144,000. Unemployment unexpectedly edged down to 4.1%, easing worries sparked by a prior ADP report showing a decline in private payrolls. As a result, traders largely ruled out a rate cut at this month’s Federal Reserve meeting. Meanwhile, attention is turning to President Trump’s advancing tax legislation and ongoing trade negotiations, with a US–Vietnam deal fuelling speculation of further progress ahead of next week’s tariff deadline.

The ASX is poised for a positive start on Friday, with SPI futures up 24 points, or 0.3%, following the strong US lead. Iron ore climbed 1.5% overnight to US$96.55 a tonne, while the Australian dollar dipped 0.2% to US65.70¢.

New Murchison Gold (ASX:NMG) has reported strong results from its completed grade control drilling program at the Crown Prince deposit, part of the Garden Gully Gold Project near Meekatharra, WA. High-grade gold intercepts include 20m at 15.09g/t and 4m at 20.98g/t. These results confirm continuity of mineralisation and outperform previous expectations in the Main and Northern ore bodies. The company plans deeper drilling to explore underground potential and is updating resource and grade control models ahead of mining.

OncoSil Medical (ASX:OSL) has completed patient recruitment for its PANCOSIL study, a Phase 1–2 feasibility trial testing a novel CT-guided delivery method for its pancreatic cancer device. Conducted at Amsterdam UMC, the study enrolled 20 patients and aims to simplify the device’s administration, potentially broadening global clinical uptake. Preliminary results are expected later in 2025. The OncoSil™ device, already approved in over 30 countries, delivers targeted radionuclide therapy for locally advanced pancreatic cancer and is currently being commercialised in the EU and other regions.

The ACCC will not oppose DP World Australia’s proposed acquisition of Silk Logistics (ASX:SLH). The regulator found the deal unlikely to substantially lessen competition despite vertical integration concerns. DP World operates container terminals at major ports and Silk provides trucking and warehousing services. The ACCC found that incentives for harmful discrimination against competitors were limited, given DP World’s need to maintain terminal efficiency. The deal reflects ongoing consolidation in the container logistics sector.