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ASX on edge as US-Iran tensions simmer
The Australian sharemarket is facing a cautious start to the week after fresh military strikes between the United States and Iran raised fears of higher energy prices, renewed inflationary pressure and further interest rate increases. At the close of Friday's trading, ASX 200 futures pointed to a flat open, with the contract down just one point. However, the futures market was pricing in the outlook before the latest weekend strikes, which signalled a potential escalation in a conflict that has continued intermittently for six months. Wall Street also ended lower on Friday after a stronger-than-expected U.S. jobs report increased expectations that the Federal Reserve could raise interest rates at this month's policy meeting. The Dow Jones Industrial Average fell 0.5%, while the S&P 500 declined 0.4% and the Nasdaq Composite lost 0.3%. "The labour market had a nice snapback last month, and it's hard not to think an improving labor market is not a positive development for the economy," Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska was quoted as saying in a Reuters story. "On the flip side, the odds of a Fed hike increased a little bit as the economy continues to run a little on the hot s
ASX
ASX eases 0.2%; down 1% for the week
The Australian sharemarket retraced early gains to trade lower on Friday, despite a surge on Wall Street overnight, driven by rising expectations that United States interest rates would remain unchanged this month. The S&P/ASX 200 fell 14.20 points, or 0.16%, to 9,005.9, despite six of the 11 sectors trading higher. For the week, the index dipped 1%. The Energy sector led declines, with Ampol and Viva Energy trading ex-dividend, falling 6% and 3.8%, respectively. Woodside Energy fell 1.2%, while Santos lost 0.9%. The Materials sector also declined, with major miners mixed. BHP fell 2.4%, and Rio Tinto lost 0.7%, while Fortescue gained 1.6%. Gold producers were mostly higher, with Evolution Mining adding 0.7%, Newmont gaining 1.9% and Bellevue Gold rising 3.3%. The Financial sector was mixed. Commonwealth Bank of Australia and National Australia Bank eased 0.1% each, Westpac added 0.1%, and ANZ declined 0.2%. Among individual movers, Nine Entertainment led declines, falling 8.5% after the company disclosed that the aggregate economic interest in the company held by Bruce Gordon’s WIN Group had increased from 28.22% to 31.18%, while its voting power had risen from 22.98% to 25.94%. Peter Warren Automotive
ASX
ASX set to rise as Waller calms rate hike concerns
Australian shares are poised to open higher on Friday, tracking gains on Wall Street after United States Federal Reserve Governor Christopher Waller signalled he is in no rush to raise interest rates. ASX 200 futures were up 25 points, or 0.3%, at 9,037. Among U.S. benchmark indexes, the Dow Jones Industrial Average rose 1.2%, the S&P 500 gained 1.1%, and the Nasdaq Composite advanced 1.4%. Global bond yields fell while technology stocks rallied following Waller's comments. “If there is continued progress toward our 2 per cent goal, then I am willing to support holding the policy rate at its current level,” Waller said at an event hosted by Reuters. “But if inflation comes in hot, I would consider a rate hike.” According to the CME Group FedWatch Tool, the implied probability of an interest rate increase fell to 50.2% from 63.2% on Wednesday. The Australian sharemarket closed higher on Thursday, snapping a three-day losing streak as bond markets and oil prices stabilised. The S&P/ASX 200 added 41.70 points, or 0.46%, to 9,020.1, with eight of the 11 sectors finishing in positive territory. On the bond markets, Australia's 10-year government bond yield rose 0.3% to 5.157%, while the two-year yield fell 0.5%
ASX
ASX closes 0.5% higher; financials lead advance
The Australian sharemarket closed higher on Thursday, snapping a three-day losing streak and tracking gains on Wall Street as bond markets and oil prices stabilised. The S&P/ASX 200 added 41.70 points, or 0.46%, to 9,020.1, with eight of the 11 sectors finishing in positive territory. The Financial sector led the advance, with Commonwealth Bank of Australia gaining 0.8%, National Australia Bank rising 1.8%, Westpac adding 1.5% and ANZ Group advancing 1.3%. The Health Care sector also finished higher, with CSL gaining 1%, Sonic Healthcare rallying 3% and Cochlear adding 3.3%. Regis Healthcare bucked the broader trend, plunging 27.0% after criticising the federal government’s new AN-ACC funding indexation. Meanwhile, the Energy sector declined as crude oil prices eased, with Santos falling 0.4%, Woodside Energy dropping 2.6% and Beach Energy losing 2.8%. Among individual stocks, Corporate Travel Management tanked 85.6% after emerging from a year-long trading suspension, having been forced to reverse revenue statements dating back to FY19. On the bond markets, 10-year and two-year rates fell 0.9% and 1.2% to 5.155% and 4.785%, respectively.
ASX
ASX set to rise as Wall St snaps losing streak
Australian shares are poised to open higher on Thursday, tracking gains on Wall Street as the bond market steadied, even as oil prices extended their rally amid intensifying fighting between the United States and Iran. ASX 200 futures were up 38 points, or 0.4%, at 8,979. In the U.S. overnight, major benchmarks finished higher. The Dow Jones Industrial Average rose 0.6%, while the S&P 500 and Nasdaq Composite each gained 0.5%. "The war is continuing longer than anyone hoped, and when it ends, energy will cool and inflation won't be as much of an issue," Lauren Cassidy, chief investment officer at Founders 100 ETF in Dallas, was quoted as saying in a Reuters story. "At the same time, we just had a record earnings season, with wonderful fundamentals being driven by the accelerating adoption of AI." "AI adoption is still in the very early innings and it's just now accelerating," Cassidy added. "We could see exponential growth from here." The Australian market finished Wednesday's session lower, with the S&P/ASX 200 Index falling 88.3 points, or 1%, to 8,978.4, as seven of the 11 sectors ended in negative territory. On the bond markets, 10-year and two-year yields fell 0.6% and 0.8%, respectively, to 5.17% and 4.8

ASX
ASX falls 1% as tech, miners slide
The Australian sharemarket fell on Wednesday, tracking overnight losses on Wall Street as higher oil prices and surging global bond yields fuelled concerns that persistent inflation will prompt central banks to raise interest rates. The S&P/ASX 200 Index dropped 88.3 points, or 1%, to 8,978.4, with seven of the 11 sectors finishing lower. Information technology led the declines, with Xero falling 2.5%, WiseTech Global dropping 5.2%, TechnologyOne losing 2.3% and Life360 retreating 4.8%. Major miners came under pressure. BHP fell 3.3%, Rio Tinto declined 1.5%, and Fortescue dropped 4.6%. Gold miners also fell amid lower spot gold prices, with Northern Star Resources down 4.7%, Evolution Mining losing 1.9% and Newmont shedding 3.3%. Real estate investment trusts were broadly lower, with Goodman Group falling 3%, Charter Hall declining 0.5% and Lendlease dropping 1.7%. Among data releases, Australian gross domestic product (GDP) rose 2.1% year on year in the June quarter, beating market expectations for 1.8% growth. On the bond markets, the 10-year yield rose 0.9% to 5.205%, reaching its highest level since July 2011, while two-year rates increased 0.7% to 4.841%.
ASX
ASX set to fall as oil, bond yields rise
Australian shares are set to open lower on Wednesday, tracking losses on Wall Street as a surge in oil prices and rising global bond yields heightened concerns that persistent inflation could lead to higher interest rates. S&P/ASX 200 futures were down 79 points, or 0.9%, at 8,933. Overnight in the U.S., major benchmarks finished lower. The Dow Jones Industrial Average fell 0.8%, while the S&P 500 lost 0.7% and the Nasdaq Composite dropped 1%. Markets are now pricing in a 66.9% probability of a 25-basis-point increase in U.S. interest rates later this month, according to the CME Group FedWatch Tool. That compares with 65.4% a day earlier and 39.6% a week ago. "We have a very, very hawkish Fed, and they absolutely want to raise rates," Jay Hatfield, portfolio manager at InfraCap in New York was quoted as saying in a Reuters story. "They want to demonstrate their independence from the administration." The Australian sharemarket closed slightly lower on Tuesday as renewed strikes in the Middle East pushed oil prices above US$91 a barrel, reviving inflation concerns. The S&P/ASX 200 Index fell 9.30 points, or 0.1%, to 9,066.7, with seven of the 11 sectors finishing lower. Local investors will be watching fre
ASX
ASX eases 0.1%; consumer stocks lead declines
The Australian sharemarket traded slightly lower on Tuesday as renewed strikes in the Middle East pushed oil prices above US$91 a barrel, driving renewed inflation concerns. The S&P/ASX 200 Index fell 9.30 points, or 0.1%, to 9,066.7, with seven of the 11 sectors finishing in negative territory. The Consumer Discretionary sector led the declines. JB Hi-Fi fell 0.5%, Domino's Pizza Enterprises lost 1.3%, Aristocrat Leisure dipped 0.7%, and Wesfarmers shed 3.0%. The Telecommunications Services sector also weakened, with REA Group down 4.2%, SEEK falling 2.5% and CAR Group also declining 4.2%. The moves followed modest losses on Wall Street overnight after U.S. forces struck an island in the Strait of Hormuz and Iran retaliated with attacks targeting the United Arab Emirates and Jordan, marking the first exchange of fire between the two sides in about a month. Crude oil prices extended their gains after rising 2.8% in the previous session as renewed violence heightened concerns over potential supply disruptions. Among individual companies, financial administration firm Computershare eased 0.1% after reporting statutory net profit after tax of US$618.7 million (A$863 million) for the year ended 30 June, an increase o
ASX
ASX set to fall as oil rises above US$90
Australian shares are set to open lower on Tuesday, tracking modest losses on Wall Street as United States Treasury yields climbed and Brent crude oil prices rose above US$90 a barrel amid renewed tensions between the U.S. and Iran. ASX 200 futures were down 22 points, or 0.2%, at 9,002, pointing to a weaker start for the local market. On Wall Street overnight, U.S. benchmark averages weakened as a war-related jump in crude prices revived inflation concerns and increased expectations for tighter monetary policy. The Dow Jones Industrial Average fell 0.7%, the S&P 500 declined 0.3%, and the Nasdaq Composite eased 0.1%. "Investors are revisiting some of the comments that Warsh made at Jackson Hole as well and what that may mean for interest rates, what that may mean for inflation," ‌Paul Nolte, ⁠senior wealth advisor & market strategist at Murphy & Sylvest in Elmhurst, Illinois was quoted as saying in a Reuters story. "If they do not hike rates in September, I think you will see a dramatic reaction in the markets because it's been prepped now for quite some time that they're going to raise rates." In Australia, the sharemarket closed slightly lower on Monday as selling across mining and technology stocks offset gai