Australian shares are tipped to rise this morning after Wall Street ended its session higher as investors rotated out of technology and AI stocks.
The Australian dollar fell as much as 1.1 per cent overnight to its lowest level since early July following a weaker-than-expected jobs data, before recovering some ground.
Follow the day's financial news and insights from our specialist business reporters on our live blog.
Disclaimer: this blog is not intended as investment advice.
Pinned
Market snapshot
By Lin Lin
By Lin Lin
- ASX 200 Futures: +0.97% to 8,838 points
- Australian dollar: -0.7% to 69.18 US cents
- S&P 500: +0.38% to 7,748 points
- Nasdaq: +0.16% to 26,734 points
- FTSE: +1.08% to 10,840 points
- Stoxx600: +2.4% to 640 points
- Spot gold: +1.5% at $US4,167/ounce
- Brent crude: -0.25% to $US105.82/barrel
- Iron ore: -0.6% to $US89.95/tonne
- Bitcoin: +0.8% to $US82,346
Price current around 7AM AEDT
Filter Posts
All
5
Key Events
1
Market snapshot
1
Energy
1
Key Event
BHP sues Chilean copper mine union over alleged illegal strikes
By Lin Lin
By Lin Lin
Mining giant BHP has launched legal action against a workers' union at its Spence copper mine in Chile, seeking around $8.6 million in compensation.
According to Reuters, BHP alleges two work stoppages in June and July were illegal because they occurred outside scheduled contract negotiations and significantly disrupted operations.
The union had been pushing for a special bonus of around $5,100 per worker.
With Reuters
IEA to speed up oil stocks release, including more than 20 million barrels of diesel
By Lin Lin
By Lin Lin
The International Energy Agency agreed on Thursday to release more than 20 million barrels of diesel to the market as soon as possible and any oil remaining from a record emergency reserves release pledged in March to help supply and cool soaring prices.
US President Donald Trump has pressed European Union countries to draw down reserves or face a potential US diesel export ban as he seeks to lower prices ahead of November 3 midterm elections.
Diesel prices have surged to record highs in many markets due to supply disruptions from the war in the Middle East and the Russia-Ukraine conflict, posing inflation and cost-of-living threats to governments and consumers.
The 32-nation IEA's board met on Thursday to discuss the scale and timing of stock releases.
"The IEA governing board reaffirmed its commitment to continue delivering on the March 2026 Collective Action in response to the Strait of Hormuz crisis," it said in a statement after the meeting.
Reuters
Aussie dollar slides on weak September jobs data
By Lin Lin
By Lin Lin
The Australian dollar fell as much as 1.1% overnight to its lowest level since early July.
The decline followed weaker-than-expected jobs data, which showed unemployment at its highest in five years, at 4.7 per cent in September, prompting markets to scale back expectations of a Reserve Bank interest rate hike on Melbourne Cup day.
ASX set to jump at the open
By Lin Lin
By Lin Lin
Good morning everyone.
Welcome to the ABC's daily markets blog.
Lin here to take you through the business/finance news overnight and over the next few hours.
The ASX 200 is set to open higher at the market open, with Futures pointing up +1% to 8,839 points.
That's as Wall Street finishes Thursday trading higher, despite a sell-off in AI and tech stocks.
But for now, go grab yourself a coffee/tea/ juice and see you back here soon!