Markets Today (06 October 2026) at Open: Kapitales Morning Highlights from Wall Street to ASX

Headline

• ASX 200 futures point to a 27-point gain (+0.31%), signalling a firmer Australian open.
• Nasdaq hit a fresh record high, driven by strength across megacap technology stocks.
• Nvidia gained 2.1%, while Broadcom advanced 2.0%, supporting the technology-led market rally.
• US Treasury yields climbed to multi-decade highs, with the 10-year yield around its highest since 2002.
• Euro fell to a 17-month low against the US dollar amid mounting French fiscal concerns.
• Spain called a snap general election for 29 November, adding to European political uncertainty.

Global Markets Overview

Global equity markets closed in positive territory, with all major benchmarks across the United States, Europe, Canada, New Zealand, Japan and India recording gains. US equities were led by the Nasdaq Composite, which outperformed as technology shares strengthened, while the S&P 500 also posted a solid advance. The Dow Jones posted a comparatively modest advance. In Europe, the FTSE 100 moved higher as investor sentiment remained constructive despite ongoing macroeconomic uncertainty. Canada’s S&P/TSX Composite edged up, reflecting relatively subdued momentum compared with other major markets.

New Zealand’s NZX 50 also finished in positive territory, supported by a stable domestic market backdrop. Japanese equities were the strongest performer among the listed benchmarks, with the Nikkei advancing sharply amid sustained buying interest. Indian equities also strengthened, extending the broadly favourable global risk tone. Overall, market sentiment remained positive, supported by resilient risk appetite and broad-based gains across major global equity markets.

Commodities & Crypto

Commodity markets were largely positive, with most major metals advancing while crude oil was the only commodity to decline. Gold finished broadly unchanged, while silver, copper and uranium recorded gains. Gold finished broadly unchanged, indicating relatively stable demand for the traditional safe-haven asset. Silver advanced, supported by firmer demand across precious metals, while copper advanced as buying interest strengthened in the industrial metals complex. Uranium was among the stronger performers, extending gains and reflecting firm sentiment toward the nuclear fuel market.

In contrast, WTI crude oil declined, making energy the weakest part of the commodity complex as selling pressure weighed on prices. Bitcoin also edged lower, although its movement was comparatively limited and suggested relatively subdued trading conditions in the cryptocurrency market. Overall, metals maintained a constructive tone, led by uranium, copper and silver, while softer crude oil prices and a marginal decline in Bitcoin provided a weaker counterbalance to the broader commodities and digital-assets backdrop.

Bond Yields

Bond markets remained under pressure, with Australian and Japanese government yields pushing higher and keeping financial conditions tight. Australia’s ten-year yield recorded the sharper increase, reinforcing concerns that borrowing costs could remain elevated for longer. Japan’s ten-year yield also edged higher, adding to the broader upward pressure in global rates.

US Treasury yields eased only marginally, with both the ten-year and thirty-year yields still sitting at historically elevated levels. The small pullback offered little meaningful relief, as long-term borrowing costs remain uncomfortably high. Overall, the bond market continues to signal a restrictive backdrop, with elevated yields posing a persistent headwind for rate-sensitive sectors, corporate financing conditions and broader risk sentiment.

Key Drivers

• US equities closed higher, led by megacap technology, although major benchmarks finished below session highs.
• S&P 500 approached record levels as large technology stocks offset pressure from oil and bond yields.
• US 10-year and 30-year Treasury yields hit their highest levels since 2002 before easing from intraday peaks.
• Brent crude slipped toward US$100 a barrel, while WTI traded near US$90.
• Euro fell to a 17-month low against the US dollar amid continued French budget uncertainty.
• French OAT-Bund spreads remained elevated, reflecting persistent fiscal concerns.
• Brazilian assets rallied after Flávio Bolsonaro narrowly led the first-round presidential vote.
• JPMorgan upgraded Brazilian equities to overweight ahead of the election runoff.
• BMO expects the US 30-year Treasury yield could reach 6% in October.
• Rising long-term yields are increasing pressure on Treasury futures and leveraged basis trades.
• Elevated oil prices, rising yields and a stronger US dollar are limiting the breadth of the equity rally.
• A record 60% of S&P 500 companies carry analyst Buy ratings, the highest proportion on record ahead of third-quarter earnings.
• Schneider Electric agreed to acquire PTC for about US$22.6 billion, its largest acquisition to date.
• TSMC shares reached a record high following early-stage discussions linked to Elon Musk’s Terafab venture.
• SpaceX rallied sharply after Morgan Stanley reiterated an Outperform rating and bullish price target.
• Cerebras shares advanced after Sam Altman highlighted OpenAI’s close working relationship with the AI chipmaker.
• US ISM services PMI remained in expansion territory, although the September reading softened from August.
• Australia’s services PMI stayed above the expansion threshold, despite easing from the previous month.

ASX Company News

• Tower Limited (ASX: TWR) upgraded its FY26 underlying NPAT guidance to NZ$69–79 million from NZ$55–65 million, reflecting lower-than-expected large-event claims. Around NZ$25 million of its NZ$45 million large-event allowance was used, while customer numbers increased 8% to 345,000 and gross written premium grew 3%. Full FY26 results are scheduled for 26 November 2026.
• Civmec Limited (ASX: CVL) secured more than AU$220 million in new contracts and extensions, including construction of Alcoa’s Wagerup Gallium Project and bulk cargo terminal works at Glencore’s Murrin Murrin Operations. The awards are expected to be delivered across FY27 and FY28 and lift Civmec’s order book to approximately AU$1.5 billion.

Stocks trading ex-dividend today

• Harvey Norman Holdings Limited (ASX: HVN) – AU$0.13
• Katana Capital Limited (ASX: KAT) – AU$0.005
• Reece Limited (ASX: REH) – AU$0.134
• Ridley Corporation Limited (ASX: RIC) – AU$0.053

Key Economic Drivers (What to Watch Today)

• 10:30 am AEDT – Westpac Consumer Confidence: The reading will provide an update on Australian household sentiment and expectations around the economy, finances and spending conditions.
• Bond yields: Elevated Australian and US yields remain a key risk for equity valuations, particularly across rate-sensitive and growth sectors.

Summary

• ASX 200 futures indicate a firmer open, rising 27 points or 0.31%.
• Nasdaq closed at a record high as megacap technology stocks led Wall Street gains.
• S&P 500 advanced strongly and moved closer to record territory.
• US 10-year and 30-year Treasury yields remained near their highest levels since 2002.
• Australian and Japanese bond yields moved higher, keeping global financial conditions tight.
• Euro weakened to a 17-month low against the US dollar amid French fiscal concerns.
• Brent crude slipped toward US$100 a barrel, while WTI traded near US$90.
• Copper, uranium and silver gained, while gold was broadly unchanged.
• Bitcoin edged slightly lower, showing limited weakness in the cryptocurrency market.
• US ISM services PMI remained in expansion territory despite easing from August.

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