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The ASX200 is set to gain just over a third of a per cent (.37%) after the rate of US Consumer Price Index inflation pulled back, sparking a rally on Wall Street.
In the year to last month, annual inflation was 2.9%, that was below expectations and the lowest lift since early 2021.
The Dow Jones gained .6%, the S&P 500 0.4 per cent, and the Nasdaq was just above even, after the data helped cement expectations of a North American interest rate cut next month.
Results roll in
Back home, there are annual reports arriving: Goodman Group (ASX:GMG) is still paying a 30c annual dividend, despite lodging statutory loss of $98.9 million for FY24.
Origin Energy (ASX:ORG) has announced profit has increased more than 30% in FY24, but management cautioned the profits would not be as strong in FY25.
Telstra’s (ASX:TLS) profits were down nearly 13 per cent or by $263 million to $1.79 billion, blaming increased operating costs. Revenue was up 1% and it will pay a total yearly dividend of 18c.
Hearing aid company Cochlear (ASX:COH) reported underlying net profit up 27% to $387 million. At $4.10, its full year dividend is up 24%. Its guidance is growth will continue to be between 6% and 11% in FY25 with an underlying net profit guidance range of $410-430 million.
ABS data today
Later this morning there’ll also be labour force and earnings data from the bureau of statistics (ABS).
The $
Many currencies dropped overnight – One Aussie dollar is just below US66c (65.9c) and the Kiwi shed about 1.3% to 60c.
Commodities
Gold pulled back more than half a per cent to around US$2447.80.
Iron Ore is down to US$100 a tonne, (US$100.44).
Brent Crude is at US$80 a barrel and natural gas is at US$2.22 a gigajoule.
