Live: ASX set to rise after strong sessions on Wall Street and Europe
Quick Look
Wall Street closed higher ahead of a busy earnings week, ASX futures point to a 0.4% rise at open, oil markets face conflicting dynamics, Houthi strikes on Saudi Arabia's King Khalid airport escalate regional conflict, Trump claims Russia-Ukraine energy ceasefire and Russian diesel export ban lift, CBA Wage and Labour Insights for September expected later today.
AI-generated summary
Why It Matters
Markets are reacting to weekly earnings expectations and geopolitical tensions, including Middle East conflict and Russia-Ukraine developments. Energy markets remain volatile due to supply concerns.
Good morning and welcome to another day on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.
Wall Street closed the week higher ahead of what's expected to be another blockbuster week of earnings coming up.
The ASX looks like extending last week's gains, with futures trading pointing to a 0.4% rise on opening.
Oil will be a focus today with market dynamics pulling in different directions.
Houthi strikes on Saudi Arabia's King Khalid international airport have escalated the conflict, with Saudi Arabia vowing a "decisive response".
Meanwhile, US President Donald Trump has announced that Russia and Ukraine have agreed to an "energy ceasefire" and Russia officially lifted its export ban on diesel on the weekend. It was news to Ukraine. There's a fair bit to unpack there.
Later this morning we are expecting the CBA's Wage and Labour Insights for September.
The game's afoot, so let's get blogging.
What to Watch
AI outlook — possibilities, not facts
Oil prices may see short-term upward pressure due to supply concerns from Middle East tensions
Likely · Within days
CBA's Wage and Labour Insights may influence ASX bank sector trading later today
Possible · Within hours
Open Questions
- What is the exact nature of the claimed Russia-Ukraine energy ceasefire?
- How will Saudi Arabia's 'decisive response' to Houthi attacks manifest?
- Will the CBA Wage and Labour Insights show significant changes in Australian labor trends?
