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Aussie shares fell on Thursday, weighed by a sell-off in miners amid ongoing Middle East uncertainty. The #ASX200 dropped 100pts or 1.1% to 8,686. Six of 11 sectors declined, led by materials (-3.2%), while utilities (+1.3%) and consumer staples outperformed.
Aussie shares are sharply lower at open on Thursday with the #ASX200 losing 84pts or 1% to 8,702. Six of 11 sectors are in the red, led by losses in miners and tech while consumer staples are outperforming.
Looking Ahead: In Australia, the goods trade balance for April is out. The RBA Governor Michelle Bullock will also be testifying before the Senate on the federal budget. #ausecon
The ASX is set to tumble at the open, with index futures -0.9%. It follows fresh Iran fighting that sent oil prices +1.9% and overseas stocks lower, with the S&P 500 -0.7% and the Nasdaq -0.9%. #ausecon
Aussie shares rose on Wednesday after softer-than-expected GDP growth boosted hopes of a pause in rate hikes. The #ASX200 gained 61pts or 0.7% to 8,786. Six of 11 sectors advanced, led by energy and miners, while tech eased after two sessions of strong gains.
Aussie shares have opened higher on Wednesday tracking a positive lead from Wall St with the #ASX200 adding 31pts or 0.4% to 8,755. Five of 11 sectors are higher, led by miners and energy while tech stocks are weighing.
Looking Ahead: In Australia, March quarter GDP is scheduled today. CBA economists expect GDP of 0.0% in 1Q26, and for the annual rate to decelerate to 2.1% from 2.6% in 4Q26. In the US, Broadcom is also scheduled to report its results. There are also ADP non-farm payrolls.
The Australian sharemarket is set to open higher, with index futures +0.4%. Miners should again get a boost from higher commodity prices, with oil +1.1%, and copper and aluminium both up almost 2% overnight. #ausecon
Tech shares again powered the S&P 500 and Dow to fresh record highs. The Dow was +0.5%, the S&P 500 +0.1% while the Nasdaq was flat. Semiconductor stocks rose 1.8% after Nvidia's CEO proclaimed Marvell Technology to be the next trillion-dollar company - Marvell shares soared 33%.
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