Join our daily newsletter At The Bell to receive exclusive market insights
Australian shares are expected to open -0.7% lower today, with traders left skittish after U.S. CPI data from June showed Trump’s long-standing tariffs campaign is starting to seep into consumer prices, sending them higher.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The 0.3% CPI rise in May was expected, but shares still dropped on the largest gain since January; the U.S. dollar bumped up, and Treasury yields spiked.
Wall Street had mixed feelings on it all – the S&P 500 and the Dow Jones lost -0.4% and a full -1%, respectively, while the tech-loaded Nasdaq composite defied its sister indexes and closed in the green on Tuesday.
Oz looks destined to follow the Dow lower, with a 60-point loss in ASX futures.
Also at home, more shockwaves from the Reserve Bank’s proposed card surcharge ban are expected too, with Financials a hot Wednesday watch. (EFTPOS merchant Tyro Payments (ASX:TYR) is already down -2.7% this week.)
Elsewhere, Rio Tinto (ASX:RIO) has found a new helmsman. The mining giant appointed its Australian head of iron ore, Simon Trott, to the role.
The major – which has dropped more than -2.3% on Wall Street – will also share its latest quarterly report today alongside earnings updates from Evolution Mining (ASX:EVN), Amplitude Energy (ASX:AEL), and more.
And on HotCopper forums, West Coast Silver (ASX:WCE) has popped up as an early topic after the explorer hit high-grade silver intercepts at Elizabeth Hill.
More market news
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
Against the grain: RBA holds cash rate in defiance of expectations
Looking at forex, the Aussie dollar is 65.1 US cents.
To commodities, all in the greenback,
Iron Ore has slumped back, down -0.6% to $98.95 a tonne in Singapore,
Brent Crude is at $68.95,
Gold is at $3,329 per ounce, and,
US natgas futures are at $3.52 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
Join the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
