Australian shares are facing a red trading day, with ASX 200 futures down -0.25% this morning on skittish feelings around the government’s Economic Reform Roundtable and some traders selling after Wall Street ATHs.
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It was a mostly lacklustre session in the U.S. as Wall Street opened Week 34, with the S&P and Dow both dipping slightly. The Nasdaq did add +0.03%.
Things were a bit better in London, where the FTSE closed on a +0.21% advance.
Traders everywhere are hesitating as the “most anticipated speech” of Federal Reserve chairman Powell’s career looms. He’ll be speaking at Jackson Hole on Friday morning (U.S. time); the consequences may be huge.
And so, Oz traders are following suit with much of the global landscape and keeping powder dry – or even selling down slightly – in the lead-in.
In company news, BlueScope (ASX:BSL) has warned Oz manufacturing may face a shutdown wave due to high gas prices; a brewing situation that could also hit the steelmaker’s Whyalla revival plans, chief Mark Vassella said.
NAB (ASX:NAB) reported lending growth and improved margins in the June quarter, though it’s been accused of underpaying staff through the same time.
And, Ampol (ASX:AMP) has said gov’t assistance isn’t enough to keep its Lytton plant online.
Earnings roll on today, too, with BHP Group (ASX:BHP), HMC Capital (ASX:HMC), and Woodside Energy (ASX:WDS) all sharing through Tuesday.
There, heavyweight CSL (ASX:CSL) has already shared profits were up 17%.
In forex, the Aussie dollar buys 64.9 US cents.
And to commodities, all in the greenback,
Iron Ore has dropped slightly, losing -0.2% to $101.70 a tonne in Singapore,
Brent Crude is at $66.50,
Gold has been selling flat at $3,337 per ounce, and,
US natgas futures are down nearly -1%, at $2.89 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
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