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ASX today – The ASX is forecast to fall slightly this morning as the market digests yesterday’s Consumer Price Index (CPI) numbers.
The CPI rose 3.5% in the 12 months to July 2026 raising concerns of further pressure on interest rates.
Overseas, Wall Street slid slightly as the market reacted to the US’ own stubborn inflation figures.
Recent economic numbers showed that the US consumer price pressures remain firm. Core inflation measures came in close to predictions, but they did not ease expectations for a future Federal Reserve rate decision.
Meta was the centre of attention by finalising a major legal agreement over child safely claims.
Locally, the Queensland government has introduced new laws to support the state’s critical minerals sector, with legislation passing Parliament last night.
The bill provides the government with the tools to facilitate major projects and position Queensland to compete for the global investment being directed towards critical minerals supply chains.
Under the reforms, the declaration of a State Strategic Project will streamline approvals but will not automatically approve a project or remove existing environmental, planning, resources, or other approval requirements.
On the market news front:
Mineral Resources (ASX: MIN) turned in the strongest annual report result in its 20-year listed history;
Genesis Energy (ASX: GNE) reported a solid financial result with normalised EBITDAF up by 11 per cent;
IGO (ASX: IGO) unveiled improved earnings and strong cash flow generation;
Wesfarmers (ASX: WES) has announced that Michael Schneider, MD of Bunnings Group, has advised of his intention to retire to be succeeded by Rachael McVitty, Bunnings Group’s chief customer officer.
Daly Resources (ASX: DLY) has confirmed that a regional airborne electromagnetic (VTEM) survey has commenced at its Broughton project in the Northern Territory.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.717
Looking at commodities, all in the greenback,
Iron Ore was up 0.19 per cent to $95.58 in Singapore today,
Brent Crude was down 1.30 per cent to $87.430per barrel,
Gold was selling at $4593.53,
US natgas futures were up 3.20 per cent to $2.8586 per gigajoule.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
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