Markets

Insights on global financial markets, including stocks, currencies, and more.

Markets
Markets: ASX 200 rises on hopes of tariff reprieve
The Australian sharemarket finished higher on Thursday, rounding out a shortened trading week with gains of 1.9%, as investor sentiment was buoyed by speculation that United States President Donald Trump may soften his stance on tariffs imposed on China. The benchmark S&P/ASX 200 index closed up on Thursday, gaining 47.7 points or 0.6% to 7,968.2. Nine of the 11 sectors finished in positive territory, with healthcare and materials sectors leading the rally. Healthcare companies moved higher, with CSL adding 0.4%, and Pro Medicus up 1.3%. ResMed surged 8.5% after it disclosed it had secured an exemption from Trump’s trade tariffs, relieving investor concerns about potential cost pressures. Major miners contributed to gains, as Rio Tinto and Fortescue Metals added 1% apiece while BHP gained 0.9%. Gold miners gained ground, mirroring the rebound in gold prices as investors sought refuge in safe-haven assets. Newmont rose 3.5% after the company reported a record first quarter free cash flow of $1.2 billion. Real estate stocks firmed, with Goodman Group up 0.8%, Charter Hall gaining 1.2%, and Stockland advancing 1.4%. Banks extended their recent gains, with Commonwealth Bank, Westpac, and ANZ adding 0.6%, 1.1%,
Markets
Gold recovers as US dollar weakens, eyes US$3,400
Gold prices lifted in Thursday's Asian session, recovering from a two-day slide as dip-buying returned and the United States dollar weakened on fresh economic and trade concerns. By 3:10 pm AEST (5:10 am GMT), spot gold gained US$36.88, or 1.1%, trading at US$3,324.00 per ounce, recovering from weekly lows of $3,260 per ounce in the prior session. The recovery in gold coincides with a pause in the relief rally seen in global equities, which was previously fuelled by President Donald Trump’s softened tone on Federal Reserve Chair Jerome Powell and the U.S.-China trade agreement. Further weighing on the U.S. dollar was disappointing macroeconomic data. The S&P Global US PMI Composite Output Index dropped from 53.5 in March to 51.2 in April, marking a 16-month low and sparking renewed concerns about a slowdown in U.S. business activity. The figures may open the door for more aggressive interest rate cuts by the Federal Reserve in the coming months. Investor sentiment was also influenced by developments in U.S.-Japan trade talks. According to NHK, citing government sources, the U.S. informed Japan it would not be granted special exemptions on tariffs during discussions earlier this month - a signal of continued trade fr
Markets
Oil ticks up as markets eye OPEC+ moves, tariff signals
Oil prices ticked upward during Asian trade on Thursday after shedding nearly 2% in the previous session, as investors weighed signs of a potential OPEC+ production increase alongside conflicting signals on United States-China tariffs and progress in U.S.-Iran nuclear talks. By 2:40 pm AEST (5:40 am GMT), Brent crude rose by $0.08 or 0.1% to US$66.20 per barrel, while U.S. West Texas Intermediate (WTI) added $0.05 or 0.1% to $62.32 per barrel. The modest gains followed a sharp drop on Wednesday, driven by reports that several OPEC+ nations are pushing for the group to accelerate oil output hikes for a second month in June. The push comes amid internal disputes over production quota compliance, with Kazakhstan citing constraints at major oil projects managed by international firms as a barrier to cuts. “Oil prices fell by 1.6% after news that several OPEC+ members are considering accelerating oil output increases for a second consecutive month in June,” ANZ analysts noted. “This follows the group's decision to hike production by 411kb/d from May, up from the earlier plan of 138kb/d.” The geopolitical backdrop added further complexity. Oil found some support from optimism around U.S.-China trade discussions. The Wall Str
Markets
APAC benchmarks mixed as US-China trade tensions thaw
Asia-Pacific markets traded mixed on Thursday, following signals from Washington indicating a softer stance toward Beijing overnight. By 11:10 am AEST (1:10 am GMT), Australia’s S&P/ASX 200 had risen 0.4%, while Japan’s Nikkei 225 gained 1%. However, South Korea’s Kospi 200 bucked the regional trend, slipping 0.4% after advance GDP figures showed the economy contracted by 0.2% in the first quarter of 2025, missing expectations of a slight gain. The upbeat tone followed a strong session on Wall Street. The Dow Jones Industrial Average rose 1.1%, while the S&P 500 climbed 1.7% and the Nasdaq Composite surged 2.5%. The rally came after Treasury Secretary Scott Bessent hinted at a possible recalibration of tariffs on Chinese imports, suggesting a move away from the current 145% rate towards a more sustainable range. Meanwhile, Chinese equities were mixed. The Shanghai Composite edged 0.1% lower to 3,296.4, while the blue-chip CSI 300 inched 0.1% higher to 3,786.9. Hong Kong’s Hang Seng Index led regional gains with a jump of 2.4% to 22,072.6. India’s BSE Sensex added 0.7%, climbing to a four-month high of 80,116.5. European markets also traded higher. The UK’s FTSE 100 rose 0.9% to 8,403.2, Germany’s DAX jumped
Markets
ASX investors tipped to start long weekend on a high
Australian shares look set to end a shortened week in the black with prices expected to edge up on Thursday as market concerns eased offshore. A stronger finish on Wall Street gave Australian Securities Exchange (ASX) traders reasons to be positive as they marked up the ASX benchmark future contract ahead of the 10:00 am AEST (12:00 pm GMT Wednesday) opening on the last trading day before a long weekend. At 9:40 am AEST (11:40 pm GMT Wednesday), the S&P/ASX 200 June share price index futures contract was quoted 13 points (0.16%) higher than the previous settlement at 7,946. The ASX is closed on Friday for the Anzac Day public holiday, having been shut on Monday for Easter. Traders were cheered by a bounce in United States stocks on Wednesday (Thursday AEST) as the United States administration turned down its anti-China trade rhetoric and President Donald Trump stepped back from threats to sack Federal Reserve chair Jerome Powell. In the wake of these developments, the Dow Jones Industrial Average increased by 1.1%, the S&P 500 added 1.7%, and the Nasdaq Composite put on 2.5%. This provides a supportive environment for the ASX S&P/ASX200 index, which ended 1.3% higher on Wednesday at 7,920.5 points. In Australi

Markets
Fitch downgrades auto industry to 'deteriorating'
Carmakers have now hit reverse, with agency Fitch downgrading the global automotive industry from ‘neutral’ to ‘deteriorating’, as tariffs weigh down hard on parts and car sales. Fitch predicts this will likely lead to production cuts and increased costs, hit carmakers' profitability and drive up prices for consumers and other end users. The auto industry was one of the first to be hit by the Trump administration’s import levies into the United States. On 26 March, the U.S. imposed a whopping 25% tariff on all imported automobiles and certain auto parts which went into effect on April 2, despite a 90-day delay on other announced import taxes in other industries. “This measure poses a significant risk for automakers importing vehicles manufactured in Mexico, Canada, Japan, Korea and Germany to the U.S.,” Fitch said. Negative rating pressures have increased for businesses whose credit profiles are already strained by restructuring charges, reduced production levels, and challenging market conditions in China, leading to lower rating headroom.Increased risk to be worn by consumersFitch expects automakers to raise prices across the world to offset the U.S. tariffs, although prices for brands and models may vary. The
Markets
Markets: US futures mixed after rally; earnings in focus
United States stock futures traded in a mixed fashion on Wednesday evening (Thursday AEST), after major benchmarks extended gains for the second consecutive session during regular trade. By 8:45 am AEST (10:45 pm GMT) Dow Jones Industrial Average futures eased 0.1%, S&P 500 futures and Nasdaq 100 futures added 0.1% apiece. In after-hours trading, International Business Machines (IBM) declined 6.5% despite reporting better-than-expected first-quarter earnings and revenue. The tech giant chose to maintain its full-year guidance, which appeared to disappoint investors hoping for a more bullish outlook. Southwest Airlines fell 1.8% after announcing plans to scale back its schedule in the second half of the year. The airline additionally withdrew its earnings before interest and taxes guidance for 2025 and 2026, citing ongoing operational challenges. Chipotle Mexican Grill dropped 2.2% after the company reported a 0.4% decline in comparable restaurant sales for the first quarter. In contrast, Texas Instruments gained 4.7% following a solid earnings beat. The chipmaker reported first-quarter earnings per share of $1.28, topping consensus estimates by $1.07, and revenue of $4.07 billion, ahead of the $3.91 billion forecast
Markets
Wall Street rises on hopes of easing US-China tensions
Major United States benchmark averages climbed on Wednesday (Thursday AEST), buoyed by optimism over easing trade tensions between the United States and China and reassurances from President Donald Trump regarding Federal Reserve Chair Jerome Powell’s tenure. The Dow Jones Industrial Average rose 419.6 points, or 1.1%, closing at 39,606.6. The S&P 500 gained 88.1 points or 1.7% to end at 5,375.9, while the Nasdaq Composite jumped 407.6 points or 2.5%, finishing at 16,708.1. Investor sentiment was lifted after President Trump signalled a willingness to adopt a less aggressive posture in trade negotiations with China. Speaking on Tuesday, Trump remarked that the current 145% tariff on Chinese goods is “very high” and pledged that it would be “substantially” reduced, though not eliminated entirely. U.S. Treasury Secretary Scott Bessent echoed the positive tone, stating that both nations have the opportunity to strike a “big deal” on trade. “If they want to rebalance, let’s do it together,” Bessent said. The prospect of eased trade restrictions triggered a rally in companies with significant exposure to China, notably Apple and Nvidia, which saw their shares climb by 2.4% and 3.9%, respectively. Tesla also advanced 5
Markets
Markets: ASX 200 jumps as energy, tech give boost
The Australian sharemarket closed higher on Wednesday as investor sentiment was lifted by Wall Street gains and optimism over easing United States-China trade tensions. The S&P/ASX200 index jumped 103.8 points or 1.3% to 7,920.5, with all 11 sectors finishing in positive territory. Energy stocks were among the standout performers, with Viva Energy, and Beach Energy advancing 2.9% and 2.6%, respectively. Santos gained 6.1% after Goldman Sachs increased its 12-month price target to $7.85, implying a 40% upside. Woodside Energy also added 3.6% after the company reported a 13% year-over-year rise in revenue in Q1 2025, reaching A$3.32 billion. Paladin Energy emerged as the day’s top performer, soaring more than 26.2% after its Langer Heinrich mine reported record quarterly output, despite recent weather-related disruptions. The local technology sector tracked strong U.S. gains, mirroring a rally in Tesla shares, which rose over 5% in extended trading despite weak earnings. Block surged 8.6%, WiseTech Global added 5.5%, Xero gained 2.9%, and Computershare gained 3.7%. Mining stocks advanced, with BHP climbing 3.1% amid reports that CEO Mike Henry may be preparing to step down. However, gold miners were sharpl