ASX 200 Preview: Futures Edge Higher as Wall Street Rebounds; CPI in Focus

1. ASX Futures Point to a Positive Open

The ASX 200 is expected to bounce this morning after slipping 36.8 points (-0.41%) to 8,935.6 on Tuesday. SPI futures are trading higher with trading around 47 points higher, supported by gains on Wall Street and firmer commodity sentiment.

2. Wall Street Recovers Overnight

U.S. equities ended higher as investors looked past political noise and reassessed the Fed outlook:

Dow Jones +0.30% to 45,418

S&P 500 +0.41% to 6,466

Nasdaq Composite +0.44% to 21,544

Sector performance was broadly constructive: Industrials (+1.0%), Financials (+0.8%), Health Care (+0.6%), and Technology (+0.5%) led gains. Defensive areas lagged, with Consumer Staples (-0.5%), Real Estate (-0.3%), and Communication Services (-0.3%) under pressure.

Markets are also digesting President Trump’s move to fire Federal Reserve Governor Lisa Cook, citing mortgage fraud allegations—raising alarm about central bank independence and spurring a rally in safe-haven assets.

3. Commodity Watch

Gold rose 0.44% to US$3,389/oz (COMEX), extending its consolidation near recent highs.

Uranium (Sprott Junior Uranium Miners Index) surged +4.22% to 1,533, continuing its breakout.

Zinc advanced to US$2,783/t, up ~1.4%.

Brent crude oil steady around US$67–68/bbl, supported above key levels.

Iron ore flat near US$101/t, keeping miners in focus.

4. Corporate Earnings in Focus

A heavy day for earnings with updates due from Woolworths (WOW), Wisetech Global (WTC), NextDC (NXT), Mineral Resources (MIN), Worley (WOR), Lovisa (LOV), Mesoblast (MSB), Westgold Resources (WGX), Flight Centre (FLT), and Nine Entertainment (NEC). These results will shape sentiment across retail, technology, energy, and discretionary names.

5. Ex-Dividend Watch

Stocks trading ex-dividend today include Telstra (TLS), Treasury Wine Estates (TWE), The Lottery Corporation (TLC), Accent Group (AX1), Amotiv (AOV), and Bell Financial (BFG). This may weigh on individual share prices despite the broader market’s upward bias.

6. Macro Economic Data:

At 11:30 am AEST, Australia’s Monthly CPI Indicator (July) will be released. This is the day’s key macro event and could move both bond yields and the AUD, while shaping RBA expectations.

7. Kapitales Research Take

The ASX 200 is set for a stronger start, taking cues from Wall Street’s rebound and firmer commodities. U.S. sector leadership from Industrials, Financials, and Technology supports the global tone, but local attention will turn to a heavy earnings slate and the CPI release. Ex-dividend adjustments may create stock-specific drags, but the overall setup leans positive into the session.

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