Headline

• ASX 200 futures point 13 points (+0.14%) higher, signalling a modestly positive start for the Australian market.
• Wall Street ended mixed as semiconductor and energy weakness offset broader market gains.
• Semiconductor and memory stocks came under pressure following reports of a more than 15% increase in Nvidia AI server prices.
• Chip stocks weakened, with Nvidia falling 2.9% while Micron and SanDisk also came under selling pressure.
• Bessent launched “Operation Economic Outcast,” imposing sweeping new sanctions targeting Iran’s military, technology and oil-linked activities.
• Safe-haven demand lifted gold by around 1% to US$4,602/oz, extending its gain since 16 June to roughly 17%.

Global Markets Overview

Global equity markets closed with a divergent performance across major regions, as selective gains in the United States, the United Kingdom and Canada contrasted with weakness across Asia-Pacific markets. On Wall Street, the Dow Jones advanced 0.26%, while the S&P 500 slipped 0.28% and the Nasdaq Composite declined 0.76%. Technology-sector weakness, particularly among semiconductor stocks, weighed on the broader US benchmarks, while gains across other sectors provided some support.Across other developed markets, the FTSE 100 gained 0.35%, while Canada’s S&P/TSX Composite rose 0.26%, reflecting relatively resilient investor sentiment. Asia-Pacific equities were comparatively weaker, with Japan’s Nikkei falling 0.74%. Indian equities also edged 0.22% lower. New Zealand’s NZX 50 fell 0.65%, reflecting weakness in the Pacific market. Overall, global equities delivered a mixed performance, with regional divergence and cautious investor sentiment resulting in an uneven trading session across major markets.Commodities & Crypto

Commodity markets delivered a mixed performance, with gains in gold, copper and uranium offset by declines in crude oil and silver. Meanwhile, Bitcoin advanced 1.74%, reflecting positive momentum in the digital asset. Gold extended its upward momentum, supported by safe-haven demand amid persistent geopolitical and macroeconomic uncertainty. Copper also edged higher, indicating relatively resilient sentiment toward industrial metals, while uranium recorded a modest advance.Energy markets were notably weaker, with WTI crude oil retreating sharply as selling pressure weighed on the broader oil complex. Silver also moved lower, diverging from gold despite its traditional precious-metal characteristics. The contrasting performance between gold and silver highlighted selective investor positioning within the metals market. Meanwhile, Bitcoin strengthened during the session, demonstrating renewed buying interest in the digital asset market. Bond Yields

Global bond markets remained under pressure, with sovereign yields holding at elevated levels despite marginal declines across Australia and the United States. Australian 10-year yields eased only slightly, leaving borrowing conditions restrictive and reinforcing concerns around persistent inflation and the prospect of tighter monetary settings remaining in place for longer.Japan’s 10-year yield remained elevated, keeping attention firmly on the Bank of Japan’s policy normalisation path. In the United States, both 10-year and 30-year Treasury yields edged lower but stayed at historically demanding levels. Persistently high long-term yields continue to present a headwind for equity valuations, corporate financing and economic activity. Overall, the bond market offered little relief, with elevated yields signalling that investors remain wary of inflation risks, fiscal pressures and uncertainty surrounding the future direction of global monetary policy.Key Drivers

• Wall Street finished mixed, as a sharp semiconductor sell-off dragged on the S&P 500 and Nasdaq.
• Chip stocks came under heavy pressure, with Nvidia, Micron, AMD and Broadcom among the notable decliners.
• Nvidia fell 2.9% ahead of its closely watched quarterly earnings release on Wednesday.
• AI server prices could rise more than 15%, as Nvidia responds to higher memory costs.
• US Treasury yields eased, with the 10-year yield retreating to around 4.70%.
• Treasury may tap its nearly US$1 trillion General Account to support expanded government bond buybacks.
• Gold extended its strong rally, supported by safe-haven demand and ongoing fiscal concerns.
• Bessent launched “Operation Economic Outcast,” intensifying US economic pressure against Iran.
• Iran blacklisted 45 tankers over alleged violations of Strait of Hormuz transit rules.
• Trump announced that US tariffs on Canadian cars, trucks, auto parts and steel will increase to 50% from 1 January 2027.
• Alibaba shares slumped after its HK$80 billion capital raising, as dilution and AI spending concerns weighed on sentiment.
• Jackson Hole moves into focus, with Fed Chair Kevin Warsh’s Friday address set to shape expectations around the US policy outlook.
• Strait of Hormuz traffic remained heavily disrupted, with AIS-detected movements around 90% below pre-war levels.
• Canada’s retaliatory tariffs take effect on 8 September, targeting a range of US goods on a dollar-for-dollar basis.
• Singapore’s core inflation rose to 2.0% year-on-year in July from 1.6%, exceeding the 1.7% market forecast.

ASX Company News

• Dalrymple Bay Infrastructure Limited (ASX: DBI) reported H1FY26 Terminal Infrastructure Charge revenue of AU$156.5 million, up 3.6%, while EBITDA increased 4.7% to AU$150.5 million and statutory NPAT rose 14.2% to AU$49.2 million. The company also reaffirmed FY26/27 distribution guidance of 28.62 cents per security, representing 8.5% growth.
• AUB Group Limited (ASX: AUB) reported FY26 underlying NPAT of AU$224.6 million, up from AU$200.2 million, with underlying EPS rising to 183.69 cents. The company declared a fully franked final dividend of 71.0 cents per share and guided FY27 underlying NPAT to AU$245–AU$265 million.
• Beforepay Group Limited (ASX: B4P) delivered FY26 Cash NPAT of AU$15.7 million, up 57%, while revenue increased 26% to AU$50.6 million. Total advances rose 19% to AU$963 million, supported by a 728% surge in Personal Loan advances to AU$16.9 million.
• Nanosonics Limited (ASX: NAN) reported FY26 revenue of AU$203.9 million, up 3%, while EBIT declined 10% to AU$16.0 million. The decline largely reflected the stronger Australian dollar, with EBIT actually rising 21% to AU$21.6 million on a constant-currency basis. Gross margin also eased to 76.9% due to product mix and currency movements.
• Aurelia Metals Limited (ASX: AMI) appointed Steve Badenhorst as Managing Director and Chief Executive Officer, effective 6 October 2026. Badenhorst brings more than 35 years of global operational leadership experience across mining, processing and industrial operations, including senior roles at Rio Tinto and Glencore.
• Monadelphous Group Limited (ASX: MND) delivered record FY26 revenue of AU$2.98 billion, up 31.5%, while NPAT increased 52.1% to AU$127.3 million and EBITDA rose 42.9% to AU$226.0 million. The company also secured more than AU$2.7 billion in new contracts and extensions since July 2025.
• Cedar Woods Properties Limited (ASX: CWP) posted record FY26 NPAT of AU$65.6 million, up 36%, while revenue increased 8% to AU$502.4 million. Record presales reached AU$830 million, covering more than 90% of forecast FY27 revenue, with the company targeting 15% NPAT growth in FY27.
• GenusPlus Group Limited (ASX: GNP) reported record FY26 revenue of AU$1.281 billion, up 70.5%, while normalised EBITDA increased 49.6% to AU$100.8 million. The company finished with a AU$2.2 billion orderbook and guided FY27 EBITDA to AU$200–AU$205 million.

Stocks trading ex-dividend today

• AGL Energy Limited (ASX: AGL): Dividend of AU$0.26 per share.
• Amotiv Limited (ASX: AOV): Dividend of AU$0.23 per share.
• Deterra Royalties Limited (ASX: DRR): Dividend of AU$0.108 per share.
• Bega Cheese Limited (ASX: BGA): Dividend of AU$0.075 per share.
• MA Financial Group Limited (ASX: MAF): Dividend of AU$0.08 per share.
• Boom Logistics Limited (ASX: BOL): Dividend of AU$0.022 per share.
• Challenger Limited (ASX: CGF): Dividend of AU$0.175 per share.
• Eureka Group Holdings Limited (ASX: EGH): Dividend of AU$0.007 per share.
• Redox Limited (ASX: RDX): Dividend of AU$0.065 per share.

Key Economic Drivers (What to Watch Today)

• 11:30 am AEST – RBA Meeting Minutes: Markets will watch for signals on inflation risks and the future interest-rate path.
• Gold & Miners: Stronger gold prices may provide support to ASX-listed gold producers.
• Energy Sector: Lower crude oil prices could pressure domestic energy stocks.
• Bond Yields: Elevated global yields remain a headwind for rate-sensitive equities.
• Trade Uncertainty: US-Canada tariff tensions could keep global risk sentiment cautious.

Summary 

• ASX 200 futures indicate a modestly higher open, up 0.14%.
• Wall Street finished mixed, with semiconductor weakness weighing on the S&P 500 and Nasdaq, while the Dow advanced.
• Semiconductor stocks faced heavy selling pressure, with Nvidia, Micron, AMD and Broadcom among the notable decliners.
• Gold extended its rally on safe-haven demand, while WTI crude fell sharply, highlighting divergence across commodities.
• Bitcoin gained 1.74%, showing renewed buying interest across the digital-asset market.
• US Treasury yields eased marginally, although longer-term yields remained elevated and continued to challenge risk assets.
• US Treasury could tap its nearly US$1 trillion General Account to support expanded government bond buybacks.
• Strait of Hormuz traffic remained heavily disrupted, with AIS-detected movements around 90% below pre-war levels.
• US-Canada trade tensions remained elevated, with threatened US tariffs and Canadian retaliatory measures keeping trade risks in focus.
• Jackson Hole remains a key global catalyst, with Fed Chair Kevin Warsh’s Friday address set to influence US monetary-policy expectations.

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