Headline

• ASX 200 futures point to a sharply lower open, down 88 points (-0.99%).
• Wall Street falls for a third straight session as oil and yields pressure equities.
• Brent crude surges above US$100 a barrel amid escalating US-Iran tensions.
• US 10-year Treasury yield climbs near 4.8%, intensifying rate and inflation concerns.
• Dow drops 0.77%, S&P 500 falls 0.48%, while Nasdaq Composite loses 0.64%.
• Trump signals elevated oil prices could persist beyond the November midterms.
• US-Canada trade tensions escalate, adding another layer of market uncertainty.
• US producer prices and the ECB policy decision move into focus as key catalysts.

Global Markets Overview

Global equity markets traded mostly lower as surging oil prices, rising bond yields and persistent geopolitical tensions weighed on investor sentiment. Wall Street extended its losing streak, with the S&P 500, Nasdaq Composite and Dow Jones all closing in negative territory. Brent crude moving above the psychologically important triple-digit threshold intensified concerns over inflation and the interest-rate outlook. Higher US Treasury yields added further pressure on equities, particularly rate-sensitive sectors.European markets also weakened, with the FTSE 100 declining amid broader risk aversion. North American sentiment remained soft, with Canada’s S&P/TSX Composite finishing lower alongside weakness on Wall Street. In the Asia-Pacific region, Japan’s Nikkei edged lower, while Indian equities recorded a comparatively steeper decline as elevated crude prices and geopolitical uncertainty affected sentiment. New Zealand’s NZX 50, representing the Oceania market, bucked the broader negative trend and closed modestly higher. Overall, global markets remained cautious as investors assessed rising energy costs, elevated bond yields and geopolitical risks.Commodities & Crypto

Commodities traded mostly higher as escalating geopolitical tensions and renewed inflation concerns supported demand for commodities and precious metals. Gold advanced as investors sought defensive exposure amid uncertainty surrounding the US-Iran conflict and rising energy costs, while silver also strengthened, benefiting from safe-haven demand and broader precious-metals momentum.Crude oil recorded the strongest advance among major commodities, with WTI climbing sharply as supply disruption concerns intensified. Copper edged higher, reflecting resilience in industrial metals, while uranium moved lower. Bitcoin also declined, indicating softer sentiment across the cryptocurrency market. Overall, geopolitical tensions supported oil and precious metals, while uranium and Bitcoin traded lower.Bond Yields

Bond yields moved higher across key developed markets, reflecting continued concerns over inflation, elevated energy prices and the interest-rate outlook. Australia’s 10-year bond yield recorded the strongest increase among the listed markets as investors assessed the potential inflationary impact of higher oil prices and the outlook for domestic monetary policy.In the United States, the 10-year Treasury yield also advanced as markets remained cautious about persistent inflation pressures and the Federal Reserve’s policy path. The 30-year Treasury yield edged higher, indicating continued pressure at the longer end of the yield curve. Japan’s 10-year yield was comparatively stable. Overall, rising Australian and US yields reinforced a cautious tone across financial markets, with higher borrowing costs adding pressure to equity valuations and rate-sensitive sectors.Key Drivers

• Wall Street fell for a third straight session, with US benchmarks closing near session lows.
• Energy was the only S&P 500 sector to advance, supported by the sharp rise in oil prices.
• US 10-year Treasury yield climbed to around 4.84%, reaching its highest level since late 2023.
• Brent crude surged above US$100 a barrel, driven by escalating US-Iran hostilities and supply concerns.
• US forces destroyed five Iranian oil tankers, prompting further retaliation and escalating regional tensions.
• Trump indicated the Iran war could continue beyond the November midterm elections, prolonging uncertainty around energy prices.
• Apple unveiled its first foldable iPhone Duo, priced from US$1,999, alongside its latest product lineup.
• Meta launched Muse, its personal AI agent designed to perform tasks across apps, including WhatsApp.
• US-Canada trade tensions escalated, with Washington banning imports of Canadian alcohol, dairy products and certain motorcycles from 29 September.
• ECB is expected to raise its deposit rate by 25 basis points to 2.50%, keeping European monetary policy firmly in focus.
• China’s producer inflation accelerated, with PPI rising 3.8% year-on-year in August, above the 3.6% estimate and July’s 3.5%, driven by higher commodity costs and strong high-tech demand.
• China’s consumer inflation accelerated, with CPI rising 0.8% year-on-year in August from 0.5% in July, while core CPI increased to 1.0%.
• US petrol prices jumped sharply, adding to concerns that higher energy costs could reinforce inflation pressures.
• RBC flagged an increased risk of a 5%–10% US equity pullback, citing seasonality, midterm volatility and geopolitical risks.
• US producer prices are the next major market catalyst, with investors watching for further evidence of inflation pressure.

ASX Company News

• NEXTDC Limited (ASX: NXT) successfully priced an AU$1.1 billion convertible notes offering, carrying a 1.75% annual coupon and maturing in September 2031. The company expects approximately AU$1.006 billion in net proceeds to support its Australian data centre development pipeline and general corporate purposes. Pro forma liquidity would increase to approximately AU$9.78 billion following the offering.
• West African Resources Limited (ASX: WAF) reported H1 2026 revenue of AU$1.46 billion and NPAT of AU$437 million, supported by combined production from Sanbrado and Kiaka. Operating cash flow reached AU$690 million, while gold production totalled 232,905 ounces at an AISC of US$1,823/oz. The company also declared a 20 cents per share special dividend and plans to accelerate debt repayments over the next 12 months.

Stocks trading ex-dividend today

• AMA Group Limited (ASX: AMA) – AU$0.005
• Breville Group Limited (ASX: BRG) – AU$0.19
• CTI Logistics Limited (ASX: CLX) – AU$0.08
• Freightways Group Limited (ASX: FRW) – AU$0.199
• Globe International Limited (ASX: GLB) – AU$0.13
• Infragreen Group Limited (ASX: IFN) – AU$0.005
• Kogan.com Limited (ASX: KGN) – AU$0.08
• McMillan Shakespeare Limited (ASX: MMS) – AU$0.70
• NAOS Ex-50 Opportunities Company Limited (ASX: NAC) – AU$0.016
• Nine Entertainment Co. Holdings Limited (ASX: NEC) – AU$0.03
• NZME Limited (ASX: NZM) – AU$0.025
• Perpetual Limited (ASX: PPT) – AU$0.63
• Regis Resources Limited (ASX: RRL) – AU$0.20
• Sandfire Resources Limited (ASX: SFR) – AU$0.35
• SGH Limited (ASX: SGH) – AU$0.32
• Sky Network Television Limited (ASX: SKT) – AU$0.141
• Spark New Zealand Limited (ASX: SPK) – AU$0.061
• Thorney Opportunities Limited (ASX: TOP) – AU$0.017
• Venus Metals Corporation Limited (ASX: VMC) – AU$0.17
• XRF Scientific Limited (ASX: XRF) – AU$0.045

Key Economic Drivers (What to Watch Today)

• 10:15 pm AEST: ECB Interest Rate Decision – markets expect a 25-basis point hike to 2.65%, with the policy outlook and inflation commentary in focus.
• 10:30 pm AEST: US Producer Price Index (PPI) – August producer inflation data will be closely watched for signals on US inflation and the Federal Reserve’s rate outlook.
• Elevated bond yields remain a key market headwind, with the US 10-year Treasury yield around 4.8%, its highest level since late 2023.
• Oil prices remain sharply elevated, with Brent above US$100 per barrel as escalating US-Iran hostilities heighten concerns over Middle East supply disruptions.

Summary 

• ASX 200 futures point to a sharply lower open, down 88 points (-0.99%), as Brent topped US$100 and the US 10-year Treasury yield reached its highest level since 2023.
• Wall Street fell for a third straight session, with US benchmarks closing near session lows.
• S&P 500 fell 0.48%, Nasdaq lost 0.64% and Dow declined 0.77%.
• Energy was the only S&P 500 sector to advance, supported by stronger oil prices.
• Gold rose 0.97% and silver gained 1.37%, while WTI crude jumped 3.91%.
• Copper advanced 0.43%, while uranium and Bitcoin traded lower.
• US-Canada trade tensions escalated, adding another source of uncertainty for markets.
• ECB rate decision is due at 10:15 pm AEST, with a 25-basis-point hike to 2.65% expected.
• US PPI is due at 10:30 pm AEST, putting inflation and the Fed’s rate outlook firmly in focus.
• Investors should remain cautious, as elevated oil prices and bond yields could pressure equity valuations and weigh on risk appetite.

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