Markets

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

Markets
US stock futures tick up after losing week on Wall St
United States stock futures inched higher on Sunday evening (Monday AEST) following a downbeat week on Wall Street, as investor caution over the sustainability of the artificial intelligence boom weighed on sentiment. By 9:40 am AEST (11:40 pm GMT), Dow Jones and S&P 500 futures were each up 0.1%, while Nasdaq 100 futures gained 0.2%. Last week saw losses across the major indices amid investor scepticism surrounding Nvidia’s US$100 billion partnership with OpenAI, which prompted questions about whether the AI trade could maintain its momentum. The Dow slipped 0.2%, its first weekly decline in three weeks, while the S&P 500 shed 0.3%. The tech-heavy Nasdaq posted its sharpest fall since early August, down 0.7%. Fresh economic data last week further complicated the outlook for monetary policy. Weekly jobless claims came in lower than expected, while second-quarter GDP growth was revised up to 3.8%, fuelling concerns that the Federal Reserve may be slower to begin cutting interest rates. A delayed easing cycle could undermine one of the rally’s key drivers. Attention this week turns to the September nonfarm payrolls report, due Friday morning, which investors see as pivotal in shaping the Fed’s policy path. Marke
Markets
ASX to edge up as RBA expected to hold cautious line
The Australian sharemarket is set to start the week slightly higher, following a modest rebound on Wall Street and gains across Europe on Friday. By 7 am (9 am GMT), S&P/ASX 200 futures were trading 21 points or 0.2%, higher at 8805.5. Overnight, United States equities advanced across the board, with technology stocks leading the rally. The S&P 500, Dow Jones and Nasdaq all closed higher after in-line inflation data reinforced expectations for further Federal Reserve easing later this year. Locally, attention this week will centre on the Reserve Bank of Australia’s policy meeting on Tuesday, where governor Michele Bullock is expected to strike a more cautious tone. Markets broadly anticipate the cash rate will remain unchanged at 3.6%, but August inflation, which climbed to 3% from 2.8% in July, has tempered hopes of near-term cuts. Analysts now expect the RBA to signal that rate reductions are likely to be delayed until price pressures show a more convincing decline. In addition to the RBA’s decision, investors will parse a slate of domestic data, including the August goods trade balance, household spending figures, and Thursday’s Financial Stability Review. On the bond markets, the 10-year government bond yi
Markets
Wall St ends higher; indexes post weekly declines
Wall Street closed higher on Friday, with major indexes recovering from a three-day losing streak, though all three still ended the week in the red. The Dow Jones Industrial Average rose 300.0 points or 0.7% to finish at 46,247.3. The S&P 500 gained 39 points or 0.6% to 6,643.7, while the Nasdaq Composite added 23.3 points or 0.4% to close at 22,484.1. For the week, the Dow ticked 0.2% lower, the S&P 500 fell 0.3% and the Nasdaq slipped 0.7%. The moves came after August’s personal consumption expenditures (PCE) price index - the Federal Reserve’s preferred inflation gauge - showed core inflation running at 2.9% on a seasonally adjusted annual basis, while headline inflation held at 2.7% with a 0.3% monthly increase. Both measures aligned with expectations, reinforcing market bets on two more quarter-point Fed cuts this year, according to the CME Group FedWatch Tool. Thursday’s strong economic data, however, kept traders cautious. Weekly jobless claims came in lower than expected, while second-quarter gross domestic product (GDP) was revised sharply higher to 3.8%, suggesting underlying economic strength that could limit the Fed’s room to ease policy. Still, losses in artificial intelligence-linked stocks capped b
Markets
FX Week Ahead: Dollar holds gains, traders eye NFP
The United States dollar index began the week little changed after booking a second consecutive week of gains. The U.S. dollar index (DXY) opened little changed at 98.182, following gains of 0.6% last week, with traders now turning their attention to September’s nonfarm payrolls (NFP) report for the next catalyst. The Greenback’s momentum was reinforced by stronger-than-expected U.S. fundamentals, with revised second-quarter gross domestic product (GDP) data coming in higher than expected, while labour market indicators pointed to resilience, helping the DXY break through the 98.00 mark and briefly touch monthly highs near 98.60. U.S. Treasury yields mirrored the move, adding to the bullish tone. The Federal Reserve recently delivered a 25 basis-point rate cut, citing cooling job growth and mounting employment risks. Projections suggest another half-point of easing is likely before year-end, while the 2026–2027 path shows smaller cuts ahead. Chair Jerome Powell highlighted slowing hiring, cautious consumer spending, and core inflation at 2.9%, adding that risks appear more balanced and the Fed is nearing a neutral stance. Markets are pricing in two more cuts - October and December - totalling nearly 40 basis p
Markets
ASX 200 ends week slightly higher; miners lead gains
The Australian sharemarket closed little changed on Friday, with gains in miners and banks balancing losses among healthcare stocks after the White House unveiled fresh tariffs on pharmaceuticals. The benchmark S&P/ASX 200 Index edged up 14.70 points or 0.17% to 8,787.7, and ending the week 0.16% higher. Only four of the 11 sectors finished higher. Major miners rose, with Rio Tinto up 1.2% and BHP gaining 1.3%, supported by stronger commodity prices. Silver producers also surged as the spot prices reached a 14-year high, with Silver Mines jumped 5.7%, Andean Silver climbed 4.3% and Unico Silver surged 17.1%. The big four banks also contributed to the market’s resilience. Commonwealth Bank and Westpac lifted 0.7% apiece, National Australia Bank gained 1%, while ANZ ticked up 0.2%. By contrast, Utilities were among the weakest performers, with Origin Energy down 2.7%, APA Group slipping 0.2% and Infratil retreating 2.2%. Healthcare stocks also fell sharply after the United States administration announced a 100% tariff on imports of branded or patented pharmaceutical products from 1 October, unless manufacturers build plants in the U.S. CSL dropped 1.9%, while Telix Pharmaceuticals shed 3.5% and Pro Medicus fell

Markets
Gold hovers near US$3,750; US PCE inflation data ahead
Gold prices were little changed during Asian trade on Friday, hovering below $3,750 as traders await the release of the United States core personal consumption expenditures (PCE) price index, a key inflation indicator, later in the session. By 3:10 pm AEST (5:10 am GMT), spot gold was trading down $2.85, or 0.1%, at US$3,746.48 per ounce. After a brief rebound on Thursday, the precious metal is once again on a corrective path, with the market now focused on the PCE inflation data for fresh direction. A key factor weighing on gold has been the U.S. dollar’s strength, which continues to hold recent gains as expectations for aggressive rate cuts from the Federal Reserve have cooled. Stronger-than-expected U.S. economic data released on Thursday has reinforced the view that the economy remains resilient, making it less likely for the Fed to ease rates aggressively in the near term. U.S. gross domestic product (GDP) for the second quarter was revised up to 3.8%, higher than the initially reported 3.3%, while jobless claims for the week ending September 20 came in at 218,000, below economists’ forecasts of 235,000. These figures have dampened expectations for more interest rate cuts, supporting the U.S. dollar and putt
Markets
Oil trades at multiweek highs on Russian export cuts
Oil prices edged higher during Friday's Asian trade, with both major benchmarks on track for their steepest weekly rise in three months after Russia announced fresh curbs on fuel exports following Ukrainian strikes on its energy infrastructure. By 2:40 pm AEST (4:40 am GMT), Brent crude futures gained 16 cents, or 0.2%, to trade at US$68.74 a barrel, while West Texas Intermediate added 24 cents, or 0.4%, to $65.22. Both contracts have risen more than 4% this week, their biggest weekly gain since mid-June. Russian Deputy Prime Minister Alexander Novak confirmed on Thursday that Moscow would impose a partial ban on diesel exports through year-end while extending an existing prohibition on gasoline shipments. The recent Ukrainian attacks have strained refining capacity, leaving some Russian regions facing shortages of fuel and pushing Moscow closer to cutting crude production. The upward momentum was also supported by a surprise drop in U.S. crude inventories, which, combined with the Russian measures, drove prices to their highest levels since 1 August earlier this week. However, gains were tempered by signs of resilience in the U.S. economy. Revised data from the Commerce Department showed gross domestic product g
Markets
APAC ticks lower as Trump’s tariffs hit pharma sector
Asia-Pacific markets ticked lower on Friday, as regional investors reacted to a continued tech selloff on Wall Street overnight and fresh U.S. trade measures targeting pharmaceutical companies. By 11:50 am AEST (1:50 am GMT), Australia’s S&P/ASX 200 was down 0.1%, while Japan’s Nikkei 225 slipped 0.1%. South Korea’s Kospi 200 lost 2%. Investor sentiment across Asia was dampened after U.S. President Donald Trump announced sweeping new tariffs on pharmaceuticals, furniture and heavy trucks. In a Truth Social post early Friday, Trump said that beginning October 1, “any branded or patented Pharmaceutical Product” would face 100% duties, with exemptions only for companies that establish drug manufacturing operations in the United States. The announcement sent shares of Japanese drugmakers lower. The Topix Pharma Index fell 0.9%, Daiichi Sankyo lost 1.5%, Chugai Pharmaceutical dipped 2.3%, and Sumitomo Pharma tumbled 4.3%. Meanwhile, inflation data offered a mixed picture. Core inflation in the city came in softer than expected at 2.5%, below forecasts of 2.8%, while headline inflation held steady at 2.5%. In the U.S. overnight, Wall Street’s major indexes extended their declines for a third straight session. The Dow Jone
Markets
Markets: ASX 200 poised for small rise at the open
The Australian sharemarket is set to extend gains by opening a little firmer on Friday despite weakness in equities in the United States overnight. The Australian Securities Exchange (ASX) benchmark should start almost 0.1% higher at 10 am AEST (12 am GMT Thursday) with future trading putting the S&P/ASX 200 share price index December contract eight points over the prior settlement at 8,810. U.S. share markets ended lower on Thursday (Friday AEST) for a third straight day as economic data raised doubts about the outlook for interest rate cuts by the Federal Reserve (Fed). The Dow Jones Industrial Average lost 0.4%, the S&P 500 dropped 0.5% and the Nasdaq Composite ended 0.5% lower after data showed the U.S. economy grew at the fastest pace in nearly two years and Chicago Fed President Austan Goolsbee said he was uneasy about cutting rates too quickly due to the risk of inflation. "The economic data that's come out over the last day or two is kind of confusing in that, in my mind, it calls into question" how much the Fed may cut rates again and whether the Fed needs to cut rates again this year, Chase Investment Counsel President Peter Tuz was quoted in a Reuters story as saying. The Australian market had ended almos