Headline

• ASX 200 futures point to a positive start, rising 38 points after Wall Street rebounded overnight.
• US benchmarks snapped a three-day losing streak as Treasury yields retreated from multi-year highs.
• Investor sentiment improved as expectations for a September Federal Reserve rate hike eased slightly.
• Oil prices surrendered early gains and settled around breakeven, reducing fresh inflation concerns.
• Dell shares surged 15.8% after the company raised its FY27 revenue guidance by US$25 billion to US$192 billion.
• Snowflake jumped 22% in after-hours trading after lifting its full-year product revenue guidance.

Global Markets Overview

Global equity markets delivered a mixed performance, with Wall Street rebounding as easing Treasury yields encouraged renewed risk appetite. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all closed higher, snapping the recent weakness in US equities. Sentiment improved as bond yields pulled back from multi-year highs, while slightly softer expectations for a Federal Reserve rate hike also supported equities.European markets remained relatively subdued, with the FTSE 100 closing lower as investors remained cautious amid interest-rate uncertainty, inflation risks and geopolitical developments. Across Asia, market sentiment was weaker, with Japan’s Nikkei recording a sharp decline, while Indian equities also finished lower amid broader risk-off conditions.New Zealand’s NZX 50 advanced strongly, outperforming several major global benchmarks. Canada’s S&P/TSX Composite also finished higher, reflecting improved investor sentiment and broader strength across equity markets. Overall, global markets remained highly sensitive to movements in government bond yields, monetary-policy expectations, commodity prices and geopolitical risks.Commodities & Crypto

Commodity markets were positive, with gold leading gains as demand for defensive assets strengthened amid ongoing macroeconomic and geopolitical uncertainty. WTI crude oil also advanced, supported by persistent supply concerns and heightened sensitivity to geopolitical developments. Silver moved higher alongside gold, benefiting from improved precious-metals sentiment, while copper recorded a modest gain, indicating relatively stable demand expectations despite broader economic uncertainty.Uranium also gained, supported by continued demand for nuclear energy. Bitcoin edged lower, with the cryptocurrency market remaining sensitive to liquidity conditions, interest-rate expectations and shifts in investor risk appetite. Overall, the session reflected a generally constructive tone across commodities, with precious metals and energy assets attracting buying interest, while Bitcoin remained comparatively subdued.Bond Yields

Bond markets showed some relief as longer-term yields eased across key developed markets. Australia’s 10-year government bond yield moved lower, indicating modest buying interest in sovereign debt. Japan’s 10-year bond yield remained unchanged, holding near elevated levels as investors continued to assess the outlook for domestic monetary policy and inflation.In the United States, both the 10-year and 30-year Treasury yields declined, providing some support to equity market sentiment after the recent rise in borrowing costs. The pullback in Treasury yields helped ease pressure on rate-sensitive assets, although yields remained elevated as markets continued to assess inflation risks and the Federal Reserve’s policy outlook. Overall, the session reflected a modest cooling in bond-market pressure, with investors remaining focused on economic data, central-bank policy signals and future interest-rate expectations.Key Drivers

• US benchmarks snapped a three-day losing streak, finishing higher and close to session highs.
• US 10-year Treasury yield eased to around 4.78% after touching 4.816% intraday.
• Brent crude steadied near US$95.3 per barrel after gaining around 10% over the previous five sessions.
• Gold rebounded 1.3% to US$4,387/oz following a 7% decline over five sessions.
• European equities fell to a one-month low, with major regional benchmarks closing lower.
• Australian 10-year bond yields reached 5.25%, their highest level since 2011.
• Japan’s 10-year government bond yield held near 3%, a level not seen since 1996.
• Snowflake jumped 22% after hours after raising its FY27 product revenue guidance.
• Dell reported 58% revenue growth, while its AI-server backlog reached a record US$95 billion.
• Dell lifted FY27 revenue guidance to US$192 billion and raised its AI-server revenue target.
• Broadcom’s quarterly revenue surged 86%, driven by strong AI semiconductor demand.
• Chevron plans to invest more than US$7 billion in Venezuela over five years to expand production.
• Middle East tensions intensified following renewed US strikes on Iranian military sites and Iranian retaliation.
• Australian GDP expanded 0.4% in the June quarter, exceeding market expectations.
• US private-sector employment increased by 38,000 jobs in August, below the 47,000-consensus estimate.

ASX Company News

• Bhagwan Marine Limited (ASX: BWN) secured a two-year contract, with options for a further two years, from a global Tier 1 energy company for deployment of the Riverside Guardian vessel. The contract carries a minimum committed value of approximately AU$5.8 million and could generate up to approximately AU$11.6 million across the initial term and extension options, subject to operational requirements and vessel utilisation. Mobilisation is expected to commence shortly, with the agreement increasing utilisation of existing fleet capacity following the Riverside Marine acquisition.
• Regis Healthcare Limited (ASX: REG) noted the Australian Government’s decision to increase the Australian National Aged Care Classification (AN-ACC) starting price by 2.55%, from AU$295.64 to AU$303.19, effective 1 October 2026, while the hotelling supplement will remain at AU$22.15 per resident per day. Regis said the funding increase remains below prevailing cost inflation, including a 4.75% wage increase for award-based workers and 3.8% annual CPI growth. The company is pursuing room-price increases, Higher Everyday Living Fee services, revenue optimisation and operational efficiencies to help manage margin pressure.
• Vulcan Energy Resources Limited (ASX: VUL) completed the Preliminary Feasibility Study for Phase Two Project Ludwig in Germany, outlining pre-tax NPV8 of €2.6 billion and IRR of 25.0%, alongside post-tax NPV8 of €1.7 billion and IRR of 20.2% over a planned 30-year operating life. The project targets annual production of 21,100 tonnes of battery-grade lithium carbonate and 3,125 GWh of renewable heat, with estimated development CAPEX of €1.26 billion and C1 operating costs of €4,101 per tonne. Project Ludwig’s Indicated Mineral Resource increased 91% to 1,251 kt LCE.

Stocks trading ex-dividend today

• Acumentis Group Limited (ASX: ACU) – AU$0.005
• Amcor plc (ASX: AMC) – AU$0.92
• Ashley Services Group Limited (ASX: ASH) – AU$0.011
• Beacon Lighting Group Limited (ASX: BLX) – AU$0.034
• BHP Group Limited (ASX: BHP) – AU$1.392
• Cash Converters International Limited (ASX: CCV) – AU$0.01
• Clinuvel Pharmaceuticals Limited (ASX: CUV) – AU$0.05
• Coles Group Limited (ASX: COL) – AU$0.37
• Euroz Hartleys Group Limited (ASX: EZL) – AU$0.05
• Fenix Resources Limited (ASX: FEX) – AU$0.01
• Finbar Group Limited (ASX: FRI) – AU$0.03
• GTN Limited (ASX: GTN) – AU$0.052
• Ironbark Capital Limited (ASX: IBC) – AU$0.006
• Jumbo Interactive Limited (ASX: JIN) – AU$0.15
• Jupiter Mines Limited (ASX: JMS) – AU$0.007
• Korvest Limited (ASX: KOV) – AU$0.40
• LaserBond Limited (ASX: LBL) – AU$0.008
• Mayfield Group Holdings Limited (ASX: MYG) – AU$0.024
• Meridian Energy Limited (ASX: MEZ) – AU$0.132
• nib holdings limited (ASX: NHF) – AU$0.21
• Pacific Current Group Limited (ASX: PAC) – AU$0.28
• Peter Warren Automotive Holdings Limited (ASX: PWR) – AU$0.006
• Qualitas Limited (ASX: QAL) – AU$0.077
• Ramsay Health Care Limited (ASX: RHC) – AU$0.485
• Resimac Group Limited (ASX: RMC) – AU$0.06
• Schaffer Corporation Limited (ASX: SFC) – AU$0.45
• Sigma Healthcare Limited (ASX: SIG) – AU$0.02
• Symal Group Limited (ASX: SYL) – AU$0.049
• Woodside Energy Group Ltd (ASX: WDS) – AU$0.795
• WOTSO (ASX: WOT) – AU$0.014

Key Economic Drivers (What to Watch Today)

• 11:00 am AEST – RBA Jones Speech: Could provide fresh signals on the Reserve Bank’s policy outlook, inflation risks and interest-rate expectations.
• 12:00 am AEST – US ISM Services PMI: Measures activity across the US services sector and provides signals on business conditions, demand and inflation pressures.
• Keep an eye on bond yield movements and US-Iran tensions, which could influence market sentiment and volatility.

Summary 

• ASX 200 futures signal a firmer opening, rising 38 points as US benchmarks rebound and bond yields ease.
• US benchmarks snapped a three-day losing streak as Treasury yields retreated from multi-year highs.
• Fed rate-hike expectations eased slightly, helping improve investor sentiment.
• Dell shares surged 15.8% after FY27 revenue guidance was lifted to US$192 billion.
• Gold gained 1.40% to US$4,389.30/oz, leading gains across precious metals.
• WTI crude rose 0.88% to US$91.01/bbl, supported by persistent supply concerns.
• US 10-year Treasury yield eased to 4.780%, while the 30-year yield declined to 5.260%.
• Australian GDP expanded 0.4% in the June quarter, exceeding market expectations.
• Bank of Canada held its policy rate at 2.25% for a seventh consecutive meeting.
• US private-sector employment increased by 38,000 in August, below the 47,000-consensus forecast.

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