Abstract: The invention relates to an axial impact tool for driving nails or staples into normally inaccessible places. The tool consists of a guide tube and impact rod slidable inside of said guide tube and containing a heavy handle extending outside of one end of said tube and a magnetic fitting which fits onto the guide rod for grasping and driving a ferromagnetic fastening means such as a nail or staple into position. Additionally, the invention contemplates the use of spacer elements which fit between the guide rod and the handle so as to prevent the guide rod from making a full stroke leaving a portion of the nail or staple exposed. This is for purposes such as hanging pictures, or for temporarily placing a board or panel into position so that it can be easily removed later.