Hot Stocks: Syntara, Vulcan Energy, ASX

US stocks closed higher on Thursday, buoyed by a cooler-than-expected inflation report and a rally in tech shares led by Oracle. The S&P 500 gained 0.38% to 6,045.26—less than 2% below its record high—while the Nasdaq added 0.24% and the Dow rose 101 points. Oracle shares surged 13% after it posted strong fourth-quarter results and projected over 70% cloud infrastructure revenue growth in fiscal 2026, citing AI-driven demand. The optimism helped lift the broader tech sector.

Meanwhile, May’s Producer Price Index rose just 0.1%, below forecasts, reinforcing expectations that the Federal Reserve may be nearing rate cuts. However, trade tensions lingered as President Trump said a new China deal was “done,” but hinted he could delay upcoming tariffs depending on progress. Talks with Japan, South Korea, and the EU also remain unresolved, keeping markets cautious. Boeing weighed on the Dow, falling nearly 5% after an Air India Dreamliner 787 crash reignited safety concerns.

European markets declined on tariff worries, with the Stoxx 600 down 0.3% and Germany’s DAX falling 0.7%. Commodities rose, with gold trading above US$3,386/oz and oil prices edging higher. The Australian dollar is buying 65.30 US cents.

SPI futures suggest the ASX is set to open higher, with a 46-point gain expected.

Syntara (ASX:SNT) shared interim data from its Phase 2 trial of SNT-5505 in combination with ruxolitinib for myelofibrosis (MF). Key outcomes include 73% achieving TSS50 and 44% achieving spleen volume reduction =25%, with no serious adverse events attributed to SNT-5505. Final results are expected in Q3, alongside discussions with the FDA about a pivotal Phase 2c/3 trial. The results further differentiate SNT-5505 in a space with high unmet need and commercial potential.

Vulcan Energy (ASX:VUL) secured building permits for its Phase One 30MW geothermal renewable energy plant at the Lionheart Project in Germany. The project will power Vulcan’s integrated carbon-neutral lithium extraction and conversion operation, supplying both the grid and Vulcan’s facilities. The approval is aligned with Germany’s €100bn Climate and Transformation Fund, enhancing Vulcan’s positioning as a strategic supplier of low-emission battery materials in Europe.

ASX (ASX:ASX) has completed the sale of its shareholding in Digital Asset Holdings, LLC for approximately $57 million. The sale delivers a pre-tax gain of $42 million over the current carrying value and $10 million gain over the original acquisition cost. The gain will be recognised in the FY25 results as a revaluation in equity. This move reflects a divestment from blockchain infrastructure following ASX’s pivot away from the troubled CHESS replacement project.