Markets Today (22 October 2026) at Open: Kapitales Morning Highlights from Wall Street to ASX

Headline

• ASX 200 futures point to a flat opening, edging down 1 point (-0.01%).
• US stocks close higher, driven by gains in technology and chipmakers.
• SpaceX jumps 8% following better-than-expected quarterly results.
• Brent crude hovers near US$110, approaching five-month highs amid Gulf tensions.
• UK inflation hits 3.5% in September, raising expectations of a Bank of England rate increase.

Global Markets Overview

Global equity markets delivered a broadly positive performance, with US benchmarks advancing as investor sentiment strengthened across Wall Street. The Nasdaq Composite led gains among the US indices, supported by renewed buying interest in technology and semiconductor stocks. The Dow Jones Industrial Average and S&P 500 also finished higher, reflecting improved market confidence and sustained demand for equities. European markets followed a similar direction, with the UK's FTSE 100 recording modest gains despite lingering concerns surrounding inflation and monetary policy.

Canada's S&P/TSX Composite also advanced, indicating positive momentum across North American equities. In the Asia-Pacific region, Japan's Nikkei registered solid gains, supported by improved investor appetite and strength in domestic equities. Meanwhile, Indian equities diverged from the prevailing global trend, with the benchmark index ending lower amid cautious trading conditions. New Zealand's NZX 50 also moved higher, reflecting favourable market sentiment and broad-based buying activity. Overall, most major global equity indices closed higher, with technology-led gains supporting US markets, while Indian equities declined against the broader positive trend.

Commodities & Crypto

Commodities and cryptocurrency markets displayed contrasting trends, with precious metals and digital assets advancing while crude oil and copper recorded modest declines. Gold traded higher, reflecting positive price momentum, while silver registered a marginal increase, contributing to gains across precious metals. Uranium also recorded a notable advance, reflecting positive price momentum during the trading session. Meanwhile, West Texas Intermediate crude oil edged lower, indicating slight weakness in energy markets despite ongoing geopolitical uncertainties. Copper also declined, reflecting softer trading conditions in the industrial metals segment. In the cryptocurrency market, Bitcoin delivered the strongest performance among the listed assets, supported by an upward movement in its market price. Overall, Bitcoin and uranium recorded strong gains, while gold and silver moved slightly higher. Meanwhile, crude oil and copper declined.

Bond Yields

Government bond yields declined across major markets, with Australian, Japanese and US sovereign bonds recording downward movements. Australia's benchmark government bond yield edged lower but remained elevated, while Japan's government bond yield also registered a modest decline. In the United States, the benchmark Treasury yield fell, alongside a decline in longer-term Treasury yields. The US benchmark recorded the largest decrease among the listed instruments, followed by the longer-dated Treasury bond. Despite the declines, government bond yields remained elevated. Overall, the downward movement in yields indicated firmer government bond prices, reflecting a positive session for sovereign debt markets.

Key Drivers

• Nasdaq led Wall Street gains, supported by renewed interest in AI-related stocks.
• Philadelphia Semiconductor Index advanced 2%, reflecting strength in chip stocks.
• Brent crude gained 0.5% to US$109.62 per barrel, remaining near five-month highs.
• Persian Gulf crude and condensate flows reached 24.6 million barrels daily in the week ending 18 October.
• More than US$5 billion in US and European bond and loan sales were delayed during October.
• Citadel's Ken Griffin warned of an AI bubble, while Deutsche Bank's Christian Sewing disagreed.
• SpaceX shares surged 8% after third-quarter revenue and profit exceeded market expectations.
• Elon Musk disclosed that SpaceX and Tesla had established committees to explore a potential merger.
• Super Micro Computer shares jumped 9.5% after raising its fiscal first-quarter revenue forecast.
• Anthropic could file for an IPO as early as Friday, according to Renaissance Capital.
• Canadian Prime Minister Mark Carney discussed trade and Iran with US President Donald Trump amid unresolved tariff negotiations.
• UK inflation accelerated to 3.5% in September from 3.1%, exceeding expectations of 3.4%.
• UK core inflation reached 2.8%, matching market expectations.
• Stronger UK inflation increased expectations of a Bank of England interest rate hike from 3.75%.
• UK public borrowing increased to £24.5 billion in September from £17.3 billion in August, exceeding forecasts of £23.9 billion, while public debt surpassed £3 trillion.

ASX Company News

• Genesis Energy Limited (ASX: GNE) released its first-quarter FY2027 performance report on 22 October 2026, reporting total customers of 493,450, up 0.7% from the previous quarter. Retail electricity sales declined by 108 GWh year-on-year to 1,766 GWh, while electricity netback increased 1.4% to NZ$184/MWh. The company commissioned Stage 1 of its Huntly Battery Energy Storage System, with a capacity of 100 MW/200 MWh, and secured 11.4 PJ of third-party gas contracts. Genesis also progressed its renewable energy pipeline, including the Leeston Solar Farm and Tihori Solar project.
• Mirvac Group (ASX: MGR) released its first-quarter FY2027 operational update on 22 October 2026, reporting investment portfolio occupancy of 97%, unchanged from the corresponding period last year. Residential activity included 429 net deposits and lots exchanged, down 17% quarter-on-quarter, while settlements increased to 291 compared to 265 a year earlier. The company maintained approximately AU$1.4 billion in residential pre-sales, supporting future earnings visibility. Industrial occupancy stood at 97%, while retail occupancy reached 99%, supported by specialty sales growth of 4.7%. Mirvac reaffirmed FY2027 operating earnings guidance of 13.2–13.4 cents per stapled security and distributions of 9.9 cents. Meanwhile, its AU$200 million on-market buyback was approximately 75% complete.
• Santos Limited (ASX: STO) released its third-quarter 2026 report on 22 October 2026, reporting record production of 26.3 million barrels of oil equivalent (mmboe), up 13.9% quarter-on-quarter and approximately 23% year-on-year. Sales volumes increased 10.9% to 26.4 mmboe, while sales revenue surged 48.7% to US$2.006 billion. The company generated record free cash flow from operations of approximately US$1.069 billion and free cash flow of approximately US$957 million. Barossa achieved steady production, with Darwin LNG recording 98.5% reliability, while the Pikka oil project continued progressing towards its planned production plateau. Santos also agreed to increase its Papua LNG interest to 21%, subject to conditions, and narrowed its 2026 production guidance to 99–102 mmboe from 99–105 mmboe.

Stocks trading ex-dividend today

• Plato Income Maximiser Limited (ASX: PL8) – AU$0.006
• N1 Holdings Limited (ASX: N1H) – AU$0.004

Key Economic Drivers (What to Watch Today)

• Oil Prices: Elevated crude prices and ongoing Strait of Hormuz tensions remain key risks for inflation and energy markets.
• Bond Yields: Movements in US and Australian government bond yields could influence investor sentiment and equity valuations.
• Global Interest Rates: Higher UK inflation and expectations of a Bank of England rate hike may keep global monetary policy in focus.

Summary

• ASX 200 Futures Signal Flat Opening as Nasdaq Rallies on SpaceX Results and Brent Nears Five-Month Highs.
• US equities closed higher, with the Nasdaq gaining 1.05%, supported by technology stocks.
• S&P 500 advanced 0.58%, while the Dow Jones gained 0.69%.
• Philadelphia Semiconductor Index climbed 2%, reflecting renewed interest in AI stocks.
• SpaceX surged 8% following stronger-than-expected quarterly results.
• Brent crude rose 0.5% to US$109.62 per barrel, approaching five-month highs.
• Persian Gulf crude and condensate flows reached 24.6 million barrels per day in the week ending 18 October.
• Gold rose 0.39% to US$4,140.83 per ounce, silver gained 0.09%, while Bitcoin advanced 2.07% to US$84,589.
• UK annual inflation accelerated to 3.5% in September, exceeding market expectations of 3.4%.

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