Markets

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

Markets
ASX 200 hits 5wk low; GYG drops 14.3% on earnings
The Australian sharemarket ended lower on Friday as investors reacted to a fresh deluge of corporate earnings following a negative session for United States markets overnight. The S&P/ASX 200 fell 26.60 points, or 0.32%, to close at 8,296.2, marking a five-week low and falling 3% for the week. Consumer discretionary and telecommunications stocks led the declines, with six of 11 sectors finishing in the red. A weak profit and sales forecast from U.S. retail giant Walmart weighed on market sentiment, with Wesfarmers falling 1.9%, Aristocrat Leisure down 1.2% and Tabcorp slipping 2.2%. Financials were also sold off, with Commonwealth Bank declining 2.6%, Westpac down 0.6%, NAB easing 0.1%, and ANZ dropping 1.4%. Miners also experienced a strong session with Rio Tinto and BHP up 2.8% apiece while Fortescue gained 2.3%. Among local reporting companies, Guzman y Gomez slumped 14.3% after the company posted a sizeable drop in sales for its U.S. business. Despite this, the food retailer said it expects to exceed its full-year profit forecasts in 2025. Meanwhile, insurers and healthcare stocks outperformed. QBE climbed 3% after posting a 31% increase in net profit after tax (NPAT) to US$1.78 billion (A$2.28 billion).
Markets
WA juniors rise on gold's 10th all-time high for 2025
WA junior caps have continued their impressive run up the ASX ranks this week amidst gold’s 10th record all-time high this year. Spot gold gained 0.7% to US$2,954/oz, already a 12% rise so far this year, and a sustained break above the US$2,950/oz barrier could resume the record rally. The next relevant resistances are seen at US$2,970/oz and the pivotal US$3,000/oz mark. Gold last year rose 27%, even outperforming the breakaway S&P 500 and its outstanding run has continued into this year, sending Goldman Sachs back to revise its target price for bullion yet again to US$3,100/oz by the end of the year. That's because while many see the precious metal as the perfect hedge against inflation and economic turmoil, others question whether bullion prices have been overcooked and are due for a pullback. It seems the banker is having trouble making these long-term predictions on gold lately - at the start of January it revised down a US$3,000/oz price target to US$2,910/oz due to perceived slow monetary easing this year. Meanwhile, U.S. Treasury Secretary Bessent dismissed recent market reports suggesting that the government might revalue its gold holdings either to reduce borrowing needs or to fund the creation of a sovere
Markets
Oil price rangebound as traders weigh supply concerns
Oil prices traded steady during Friday's Asian session, heading for modest weekly gains as declining United States gasoline and distillate inventories fueled demand expectations. By 4:00 pm AEDT (5:00 am GMT) Brent crude and U.S. West Texas Intermediate crude remained flat at US$76.46 and $72.48 per barrel respectively. Both benchmarks were set to end the week with gains of around 2.5%. Fresh data from the U.S. Energy Information Administration (EIA) overnight showed that while crude oil stockpiles increased, gasoline and distillate inventories declined as seasonal refinery maintenance reduced processing capacity. Analysts at ANZ noted, "OPEC member states face rising breakeven levels for their oil, putting pressure on their fiscal budgets. The elevated budgetary needs of several OPEC members means they will continue to favour maximising revenue. "We expect OPEC will delay the production hikes planned for early April. This would add 80-100kb/d per month to global oil supply. While such a move wouldn’t greatly impact oil market balances, the downside for prices is high if OPEC proceeds with production hikes." Geopolitical tensions surrounding Ukraine remained in focus. Ukrainian President Volodymyr Zelenskiy pushed b
Markets
APAC markets mostly lower; Japan's CPI hits 2yr highs
Asian markets traded mostly lower on Friday as investors assessed Japan’s latest inflation figures while concerns over global economic trends and potential U.S. tariffs weighed on sentiment. By 12:00 pm AEDT (1:00 am GMT) South Korea’s Kospi fell 0.4%, Japan’s Nikkei 225 slipped 0.2%, while Australia’s S&P/ASX 200 remained flat. Among data releases, Japan's annualised inflation rate climbed to 4% in January, its highest level since January 2023, strengthening expectations that the Bank of Japan may consider interest rate hikes. In the U.S., markets pulled back after the S&P 500 reached record highs for two straight sessions. A weak forecast from retail giant Walmart contributed to investor concerns over the economic outlook, leading to declines in major indices. The Dow Jones Industrial Average fell 450.94 points, or 1.01%, to close at 44,176.65. The S&P 500 slipped 0.43% to 6,117.52, while the Nasdaq Composite dropped 0.47% to 19,962.36. Commodity markets saw Brent crude rise $0.44, or 0.6%, to $76.48 per barrel, while spot gold remained near record highs at $2,939.79 per ounce. Elsewhere in Asia, in China, the SSE Composite remained flat at 3,350.8, while the CSI 300 eased 0.3% to 3,928.9. Hong Kong’s Hang S
Markets
US futures flat as benchmarks slip; Block sheds 6.1%
United States stock futures were little changed on Thursday night (Friday AEDT) after Wall Street retreated, as Walmart's weaker-than-expected earnings forecast dented risk sentiment. By 10:50 am AEDT (11:50 pm GMT) Dow Jones Industrial Average futures and S&P 500 futures were flat, while Nasdaq-100 futures ticked up 0.1%. In extended deals, Block slid 6.1% after the company reported fourth-quarter earnings per share of $0.71, below estimates of $0.88. Revenue also disappointed, coming in at US$6.03 billion, below the consensus forecast of $6.29 billion. Rivian Automotive added 1% following stronger-than-expected revenue of $1.73 billion, surpassing estimates of $1.4 billion. During Thursday’s trading session, stocks faced broad declines, as the Dow Jones Industrial Average shed 1%, while the Nasdaq Composite and S&P 500 declined 0.4% apiece. Market sentiment was dented by Walmart’s 6.5% decline, which raised concerns about consumer spending and broader economic growth. For the week, the S&P 500 remains on track for a modest 0.1% gain, while the Nasdaq Composite is down 0.3%. The Dow has been the worst performer, set for a 0.8% loss over the period. Investors now turn their attention to upcoming economic data

Markets
Happy Friday ahead on ASX amid positive reversal
The Australian Securities Exchange is set to end the trading week on a positive note as index futures flag a higher opening, defying the trend of major United States stock indices which fell on Thursday (Friday AEDT). At 9:05 am AEDT (10:05 pm GMT ) the S&P/ASX200 March share price index (SPI) contract was trading 16 points (0.19%) higher than the previous settlement at 8,304. U.S. stocks fell sharply on Thursday as giant retailer Walmart’s weaker-than-expected outlook comments prompted worries about company earnings and the growth of the American economy. The Dow Jones Industrial Average dropped 1%, the S&P 500 slid 0.4% and the Nasdaq Composite lost 0.5% as falls in Walmart stock spilled over into other retailers with Target and Costco losing ground. A stronger start on the ASX would reverse the pattern of the first four days when the Australian benchmark index went backwards. The S&P/ASX200 fell 1.2% to 8,322.8 as seven of 11 sectors ended lower on Thursday, including real estate, which was affected by a drop in Goodman Group after it announced a mammoth $4 billion capital raising. The profit reporting season continues today with results from Block, Guzman y Gomez, Inghams, Latitude, Michael Hill, Newmont and
Markets
US markets retreat; Walmart sheds 6.5% post earnings
United States stocks fell sharply on Thursday, with the S&P 500 slipping from record highs as Walmart’s weaker-than-expected forecast stoked concerns about corporate earnings and economic growth. The Dow Jones Industrial Average slid 450.9 points, or 1% to 44,176.7, the S&P 500 lost 26.6 points or 0.4% to 6,117.5, and the Nasdaq Composite dipped 93.9 points or 0.5% to 19,962.4. Retail giant Walmart led the decline, sinking 6.5% after issuing a fiscal 2026 earnings forecast that fell short of analyst expectations. The cautious outlook pressured other retail stocks, with Target and Urban Outfitters falling 2% apiece, while Costco dipped 2.6%. Financial companies fell across the board, with JP Morgan Chase and Morgan Stanley down 4.5% apiece, Goldman Sachs declining 3.9% and Citigroup down 3.1%. Economic worries further rattled markets after The Conference Board’s Leading Economic Index unexpectedly declined in January, raising fears of a slowdown. Meanwhile, initial U.S. jobless claims rose to 219,000 last week, slightly above expectations of 215,000. On the bond markets, 10-year and 2-year rates were at 4.507% and 4.272% respectively.
Markets
ASX 200 falls 1.2% as real estate and healthcare drop
The Australian sharemarket extended losses for the fourth consecutive session on Thursday, as a stronger-than-expected labour market report reduced expectations for a May interest rate cut. The S&P/ASX200 fell 96.4 points, or 1.2% to 8,322.8, with seven of 11 sectors closing in the red. The real estate sector was hit hard, with Goodman Group tumbling 5% as investors took profits after a 2.4% gain on Tuesday. The decline followed the company’s announcement of a $4 billion capital raise - its first in 12 years - aimed at expanding its data centre portfolio. Financial stocks also struggled, with ANZ falling 3.1%, while Westpac and NAB dropped 3% and 4.3%, respectively and Commonwealth Bank declined 2%. Miners faced significant selling pressure, with Fortescue slumping 6.2% after reporting a more than 50% decline in profit, while Rio Tinto fell 1.5% after reporting an 8% year-on-year decline in profit to US$10.86 billion. Retail giant Wesfarmers climbed 1.3% after reporting stronger sales and earnings in the first half, driven by solid performances from Bunnings and Kmart. Telstra soared 5.6% following a 6.5% rise in interim net profit to A$1.03 billion, underpinned by strong mobile and infrastructure earnings. Su
Markets
Gold flies near record highs; tariffs threats escalate
Gold prices traded higher during Thursday's Asian session, holding just below the record highs reached on Wednesday amid growing concerns over U.S. President Donald Trump’s tariff plans. By 4:15 pm AEDT (5:15 am GMT) spot gold was up $11.38 or 0.4% to US2,944.45 per ounce, just below record highs of $2,947.08 per ounce. Trump reiterated his plans to impose tariffs on timber, cars, semiconductors, and pharmaceuticals, stating they would be announced "over the next month or sooner". He also reaffirmed his intention to impose auto tariffs of around 25%, alongside similar duties on semiconductors and pharmaceuticals. Additionally, traders are monitoring escalating geopolitical concerns between the U.S. and the European Union (EU) over the Russia-Ukraine conflict, after the U.S. excluded Ukraine and the E.U. from its negotiations with Russia. Meanwhile, the PBoC kept its one-year loan prime rate (LPR) unchanged at 3.1% and the five-year LPR at 3.6%, in line with expectations, providing little stimulus to global markets. The Fed's January meeting minutes, released on Wednesday (Thursday AEDT), showed that "many participants noted that the committee could hold the policy rate at a restrictive level if the economy remain