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Renewed worries out of the U.S. are expected to send the Australian share market lower to start Week 7, with futures pointing to a 0.72% decline, to 8,456 points.
The sharp 61.2-point loss comes amid U.S. news weighing heavily on global markets everywhere. Talks around Trump’s ever-present tariffs have flared up over the weekend as trade war worries keep building. Data suggesting a disappointing 143,000 jobs were made in January will also push the downtrend today.
Finally, Wall Street took a nosedive on Friday – that too will weigh.
The Nasdaq composite lost 1.4%, while the Dow Jones and S&P 500 sagged around 1%.
Europe didn’t fare much better under the returning tariffs chats, with the FTSE down around 0.3% and the major STOXX slapped with a 0.4% drop.
Back home, the Oz half-year reporting season will chug on through Monday.
JB Hi-Fi (ASX:JBH) and Ansell (ASX:ANN) are among the big companies scheduled. Ansell has already shared its numbers; the medical manufacturer says tariffs won’t impact it and revised its earnings up on that claim.
A big one coming this week too is Commonwealth Bank (ASX:CBA), with the leading ‘big four’ bank sharing its reports this Wednesday.
Elsewhere, Meridian (ASX:MEZ) got the go-ahead to build a 120MW solar farm.
Global equity firm Kohlberg Kravis Roberts is also reportedly sharpening its pencils for an approach for office landlord Dexus (ASX:DXS). It would have to go head-to-head with U.S. rival Blackstone in any buyout battle.
The Star Entertainment (ASX:SGR) vs. ASIC trial starts today and is being tipped to run through to March. These proceedings started back in 2022.
Looking at forex, the Aussie dollar is buying 62.6 US cents.
To commodities, which are in the greenback,
Iron Ore is up slightly, to $106.10 a tonne in Singapore,
Brent Crude is trading at $74.66,
Gold is trading at $2,891 per ounce, and,
US natgas futures are at $3.30 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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