Headline

• ASX 200 futures indicate a positive open after strong gains on Wall Street.
• The Dow Jones reached a fresh record high, while the Nasdaq climbed 2.13%, driven by gains in major technology stocks.
• The S&P 500 added 1.48%, finishing just 0.1% below its all-time closing high.
• Easing geopolitical concerns in the Middle East improved risk appetite across global equity markets.
• Brent crude tumbled nearly 8% to US$83.76 after President Trump cancelled a planned military strike on Iran.
• Amazon topped a US$3 trillion market capitalisation on strong cloud growth, while Palantir upgraded its full-year outlook after the bell.

Global Markets Overview

Global equity markets largely traded higher, driven by strong gains in the United States as easing geopolitical tensions and continued strength in technology stocks boosted investor confidence. The S&P 500 advanced 1.48% to 7,601.00, finishing close to its record high, while the Nasdaq Composite surged 2.13% to 25,914.00 on broad-based gains in large-cap technology stocks. The Dow Jones climbed 1.32% to a fresh record close of 53,178.00. In Europe, the FTSE 100 edged 0.10% lower to 10,858.00. Trading in Canada's S&P/TSX Composite remained closed on Monday, August 3, 2026, due to the Civic Holiday. In Oceania, New Zealand's NZX 50 gained 0.55% to 13,775.00. Elsewhere in Asia, Japan's Nikkei 225 declined 0.94% to 63,755.00, while India's benchmark index rose 0.70% to 78,639.00, reflecting resilient investor sentiment across regional markets.Commodities & Crypto

Commodity markets delivered mixed performances, with gold rising 0.30% to US$4,055.13/oz as investors-maintained demand for safe-haven assets. WTI crude dropped 5.44% to US$80.06/bbl, reflecting easing geopolitical risk and improved supply expectations. Copper gained 1.24% to US$6.52/lb, supported by expectations of resilient industrial demand, while uranium climbed 3.85% to US$5,383.30, extending its recent strength. Silver edged 0.23% lower to US$58.34/oz. In digital assets, Bitcoin traded largely unchanged, rising 0.06% to US$63,390.00, indicating relatively stable sentiment in the cryptocurrency market.Bond Yields

Government bond yields were broadly stable, with modest declines across major developed markets. Australia's 10-year government bond yield eased to 4.951%, down 0.036 bps. The US 10-year Treasury yield edged lower to 4.684%, while the US 30-year Treasury yield slipped to 5.226%, indicating steady demand for longer-dated government debt. Meanwhile, Japan's 10-year government bond yield stood at 2.824%, highlighting relatively higher long-term borrowing costs. Overall, bond markets reflected a relatively stable interest rate environment as investors monitored macroeconomic developments and central bank policy expectations.Key Drivers

• US equities rallied, with the Dow hitting a record high and the S&P 500 closing within 0.1% of its all-time high.
• European equities reached record highs, supported by lower energy prices and easing bond yields.
• Amazon surpassed a US$3 trillion market capitalisation after stronger-than-expected AWS revenue.
• Morgan Stanley upgraded South Korean equities to Overweight, targeting 9,000 on the KOSPI.
• Palantir raised FY26 guidance after delivering strong Q2 earnings, with shares rising sharply after-hours.
• Alibaba unveiled its Qwen3.8-Max AI model, claiming performance comparable to leading global AI systems.
• Trump signalled a potential breakthrough with Iran, easing geopolitical tensions and pressuring oil prices.
• Japan confirmed coordinated US-Japan yen intervention, the first joint operation since 1998.
• US ISM Manufacturing PMI rose to 55.6, its highest level since May 2022, indicating solid factory expansion.
• Eurozone manufacturing activity strengthened, although growth was driven primarily by backlog clearance.
• Australian home prices recorded their fastest decline since 2022, reflecting the impact of higher interest rates and tax changes.

ASX Company News

• Credit Corp Group Limited (ASX: CCP) reported a record FY26 NPAT of AU$105.5 million, up 12%, supported by a 57% increase in US segment earnings to AU$26.2 million and a 15% rise in lending volumes. The closing loan book reached AU$510.5 million, while ROE improved to 13%. For FY27, Credit Corp expects NPAT of AU$110–118 million, EPS of 161–173 cents, and gross lending volumes of AU$445–495 million.
• Qantas Airways Limited (ASX: QAN) signed a binding agreement to divest its 33.32% minority stake in Jetstar Japan through a share buyback valued at JPY8.2 billion. Development Bank of Japan will join the shareholder structure, while Japan Airlines and Tokyo Century will retain their holdings. Completion is expected by June 2027, subject to regulatory approval, with Qantas anticipating an estimated AU$115 million gain, predominantly in FY27.
• Jade Gas Holdings Limited (ASX: JGH) completed its AU$11.0 million placement at AU$0.12 per share, issuing 91.67 million new shares. The transaction lifted the company’s cash position to more than AU$20 million. Proceeds will support the TTCBM Project, strategic initiatives including a proposed Hong Kong Stock Exchange listing, asset development, and working capital, strengthening the company's funding position for future growth.

Stocks trading ex-dividend today

• Australian Foundation Investment Company Limited (ASX: AFI): Dividend of AU$0.17 per share.
• ClearView Wealth Limited (ASX: CVW): Dividend of AU$0.05 per share.

Key Economic Drivers (What to Watch Today)

• No major economic data releases are scheduled today (AEST), keeping the economic calendar relatively light.
• Middle East Developments: Any updates on US-Iran negotiations and the Strait of Hormuz could influence oil prices and global risk sentiment.
• Japan Currency Intervention: Markets will monitor further action following the coordinated US-Japan yen-buying intervention and its impact on currency markets.

Summary 

• ASX 200 futures indicate a positive open after strong gains across Wall Street.
• Dow Jones closed at a record high, while the S&P 500 ended within 0.1% of its all-time high.
• Nasdaq surged 2.13%, supported by broad-based gains in major technology stocks.
• Easing US-Iran tensions improved global risk sentiment and weighed on oil prices.
• Brent crude tumbled nearly 8%, while WTI crude fell 5.44% on easing geopolitical concerns.
• Gold edged higher, copper and uranium advanced, while Bitcoin remained broadly stable.
• Government bond yields eased modestly, with the US 10-year Treasury yield retreating to 4.684%.
• European equities reached record highs, supported by lower energy prices and easing bond yields.
• US ISM Manufacturing PMI climbed to 55.6, marking its strongest reading since May 2022.
• Investors will monitor Treasury yields, geopolitical developments in the Middle East, and Japan's currency intervention for potential market-moving signals.

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