Daily Market Update: 4 July, 2025

The key takeaways from the last 24 hours

Mining strength offsets banking weakness

The Australian share market closed relatively flat, with the S&P/ASX 200 Index edging down just 1.9 points to finish at 8595.8, narrowly missing a record high. A sharp rally in BHP Group Limited (ASX: BHP), which surged over 5 per cent to $39.27, helped offset a broad decline in the financial sector. The gains in mining followed a 2.5 per cent rise in iron ore prices to $95.55 per tonne, buoyed by supportive rhetoric from Chinese authorities aiming to stabilise the steel market. Other mining heavyweights such as Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) also climbed 1.8 per cent each, while lithium stocks like Mineral Resources Limited (ASX: MIN), Pilbara Minerals Limited (ASX: PLS), and Liontown Resources Limited (ASX: LTR) posted significant gains.

 

Banks and retailers drag amid rotation

Despite strong mining support, financial stocks dragged on the index as investors rotated out of banking. Commonwealth Bank of Australia (ASX: CBA) fell 2.2 per cent to $179.69, while National Australia Bank Limited (ASX: NAB) and Westpac Banking Corporation (ASX: WBC) also declined. Retailers, which had earlier rallied on speculation of a potential interest rate cut from the Reserve Bank of Australia, reversed course, with JB Hi-Fi Limited (ASX: JBH), Wesfarmers Limited (ASX: WES), Harvey Norman Holdings Limited (ASX: HVN), and Myer Holdings Limited (ASX: MYR) all retreating. Meanwhile, GemLife, a new housing developer, debuted strongly on the ASX, rising 4.1 per cent to $4.33. Notable corporate moves included Pro Medicus Limited (ASX: PME) jumping 7.8 per cent on significant US contract wins and Domino’s Pizza Enterprises Limited (ASX: DMP) rebounding after executive remarks. In contrast, G8 Education Limited (ASX: GEM) dropped 7.4 per cent amid legal issues involving a former employee.

 

Wall Street rises on strong jobs data and tech rally

In the United States, equity markets climbed sharply as better-than-expected jobs data and strong tech performance lifted sentiment. The S&P 500 Index (NYSE: SPX) and Nasdaq 100 Index (NASDAQ: NDX) both closed at record highs, boosted by a 147,000 rise in nonfarm payrolls and a surprise drop in unemployment to 4.1 per cent. Leading the gains were technology firms, with NVIDIA Corporation (NASDAQ: NVDA) and Synopsys Inc. (NASDAQ: SNPS) rising 1.3 per cent and 4.2 per cent respectively, amid positive momentum in AI earnings and eased export restrictions. Additional support came from optimism around a US-Vietnam trade agreement and the near-final approval of President Trump’s $3.4 trillion fiscal package. Datadog Inc. (NASDAQ: DDOG) jumped 10 per cent following its inclusion in the S&P 500. US markets will close early ahead of the Independence Day holiday.

 

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Daily Market Update: 7 July, 2025

The key takeaways from the last 24 hours

ASX pushes past 8600 amid retail surge

The Australian share market closed above the 8600-point mark for the first time ever, with the S&P/ASX 200 Index gaining 7.2 points to finish at 8603 on Friday. Investor sentiment was buoyed by expectations that the Reserve Bank of Australia (RBA) will cut interest rates next week, prompting a rally in retail stocks. Wesfarmers Limited (ASX: WES) edged up 0.8 per cent, while Aristocrat Leisure Limited (ASX: ALL) and Premier Investments Limited (ASX: PMV) each rose 1.4 per cent. The index also recorded a 1 per cent weekly gain, with eight of the eleven sectors finishing in positive territory.

 

Banks and miners diverge as CBA slides

Despite gains among major banks, Commonwealth Bank of Australia (ASX: CBA) extended its recent downturn, falling 0.9 per cent to $178 and marking a 7.2 per cent decline from its record high. In contrast, Australia and New Zealand Banking Group Limited (ASX: ANZ), Westpac Banking Corporation (ASX: WBC), and National Australia Bank Limited (ASX: NAB) posted modest advances. Weakness in the materials sector weighed on the market, with BHP Group Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) down 1.4 per cent and 1.3 per cent, respectively. Meanwhile, Silk Logistics Holdings Limited (ASX: SLH) surged 23.3 per cent after the Australian Competition and Consumer Commission (ACCC) cleared its acquisition by DP World Australia, and ARB Corporation Limited (ASX: ARB) climbed 3.6 per cent on a Citi upgrade.

 

US markets

The United States markets were closed on Thursday in observance of Independence Day.

 

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Daily Market Update: 8 July, 2025

The key takeaways from the last 24 hours

ASX stalls ahead of RBA rate decision, Origin surges on UK deal, materials sink

The local bourse posted a 0.2 per cent loss on Monday, with the S&P/ASX 200 Index (ASX: XJO) dragged lower by weakness across the retailing and materials sectors, with both falling by 0.8 per cent. It was news from gold miner Northern Star Resources Limited (ASX: NST) that production would be at the lower end of forecasts that had the biggest impact, with shares falling 8.7 per cent on the news. This was worsened by a weakening in the iron ore price, which sent BHP Group Limited (ASX: BHP) around 0.3 per cent lower. On the positive side was a strong rally in the utilities sector, gaining 3.5 per cent, as Origin Energy Limited (ASX: ORG) gained close to 7 per cent on corporate news. The company is a major shareholder in UK energy tech company, Octopus Energy, which over the weekend confirmed intentions to hive off its technology platform Kraken, in a deal that could value the business at 10 billion dollars.

 

South32 lower as deal nears, MinRes falls despite board change, Hub24 jumps on broker upgrade

Diversified miner South32 Limited (ASX: S32) fell 0.6 per cent as the company flagged the sale of its Cerro Matoso nickel mine to venture partner Core X following a review of growing structural challenges in the nickel market. The group is focused on cleaning up non-core assets as higher costs and lower prices spread across the market. Super platform HUB24 Limited (ASX: HUB) managed a 2.8 per cent gain as broker UBS upgraded its outlook for the company as assets under administration continue to flow, and grow as share markets perform strongly. CSL Limited (ASX: CSL)rallied more than 2 per cent amid a renewed search for defensive earnings, while Mineral Resources Limited (ASX: MIN) reversed a 2 per cent gain to finish close to 2 per cent lower, despite the addition of two new independent directors to the under-pressure company’s board. The market is awaiting an RBA rate decision tomorrow afternoon, with economists predicting another 0.25 per cent cut as a near certainty.

 

Trump tariffs return, S&P 500 sinks, Tesla as Musk launches party

The US share market fell from its all-time high overnight as Donald Trump’s tariffs returned with a vengeance. The S&P 500 Index (NYSE: SPX) was down 1 per cent and the NASDAQ Composite Index (NASDAQ: IXIC) 0.9 per cent as Trump announced a round of tariffs following the expiry of the previous moratorium. A 25 per cent tax will be levied on Japan and South Korea, along with 30 per cent on South Africa; however, positively, the Euro Area was excluded as negotiations continued amid suggestions a 10 per cent cap will be applied. Tesla Inc (NASDAQ: TSLA) sank 7 per cent after Elon Musk announced his intention to start his own political party, worrying investors about a further distraction as the company continues to struggle growing sales. CoreWeave Inc (NYSE: CRWC) has spent 9 billion US dollars on the acquisition of Core Scientific, as it seeks to take greater ownership of AI and computing power-driven assets. Apple Inc (NASDAQ: AAPL) is also appealing a fine of 580 million US dollars regarding recent changes to the App Store in Europe.

 

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Daily Market Update: 18 June, 2025

The key takeaways from the last 24 hours

ASX retreats as geopolitical tensions stir investor caution

The Australian share market closed marginally lower on Tuesday as geopolitical risks overshadowed an initial positive start. The S&P/ASX 200 Index (ASX: XJO) dipped by 7.1 points to finish at 8541.3, despite tracking earlier gains from Wall Street. The volatility was sparked by former US President Donald Trump’s unexpected social media call for the evacuation of Tehran, raising market jitters across Asia. Investor sentiment remained cautious as seven of the 11 sectors on the ASX ended in the red, with Commonwealth Bank of Australia (ASX: CBA) and BHP Group Limited (ASX: BHP) both edging lower by 0.2 per cent and 0.4 per cent, respectively.

Gold, uranium stocks lift as safe haven demand rises

Gold-related equities saw strong performances amid growing market uncertainty. Newmont Corporation (ASX: NEM) gained 2.5 per cent and Northern Star Resources Limited (ASX: NST) climbed 1.5 per cent, mirroring a spike in global gold prices to $US3394.68 per ounce. Uranium stocks also surged as hedge funds scrambled to cover short positions, following news of a $US100 million capital raise by the Sprott Physical Uranium Trust. Gains included Deep Yellow Limited (ASX: DYL) up 5.7 per cent, Boss Energy Limited (ASX: BOE) up 3.2 per cent, Silex Systems Limited (ASX: SLX) up 3 per cent, and Paladin Energy Limited (ASX: PDN) up 4.4 per cent. Santos Limited (ASX: STO) added 0.5 per cent following ongoing speculation over a potential $30 billion takeover bid.

 

Wall Street slips amid Middle East tensions and weak data

Global markets were pressured by rising Middle East tensions and disappointing economic indicators. The S&P 500 Index (NYSE: SPX) dropped 0.8 per cent, the Dow Jones Industrial Average (NYSE: DJI) fell 299 points, and the Nasdaq Composite Index (NASDAQ: IXIC)declined 0.9 per cent. Investor anxiety grew following Trump’s threats of potential strikes on Iran and calls for its “unconditional surrender”. Adding to the negative sentiment, US retail sales fell 0.9 per cent in May, suggesting weakening consumer demand. Among stocks, JetBlue Airways Corporation (NASDAQ: JBLU) plummeted 7.9 per cent on weak travel demand outlook, while ExxonMobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX) rose 1.3 per cent and 3.2 per cent respectively, driven by a surge in oil prices.

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Daily Market Update: 10 July, 2025

The key takeaways from the last 24 hours

All ords weakens as mining threats spread, Paladin sinks, copper miners hit

The local market continued a negative start to the financial year, falling 0.6 per cent on Wednesday as just four of the market’s 11 sectors posted a gain, led by the utilities sector, which added 1.1 per cent on continued strength in Origin Energy Limited (ASX: ORG). Among the biggest detractors was the materials sector, falling 1.3 per cent, as the threat of 200 per cent tariffs on copper exports to the US sent the likes of Sandfire Resources Limited (ASX: SFR) and Evolution Mining Limited (ASX: EVN) down 3 and 7 per cent respectively. This was despite analysts confirming that the companies export little product to the US and thus their revenue was unlikely to be impacted by the proposed changes. Paladin Energy Limited (ASX: PDN) led uranium miners lower by more than 8 per cent as energy weakness continues to spread. While explosives maker Orica Limited (ASX: ORI) bounced after the company confirmed Vik Bansal, previous CEO of Boral Limited, would be taking over as Chairman of the company amid more challenging conditions ahead.

 

Lifestyle Communities in disarray, Telix jumps on insurance deal, Bega shuts down peanut ops

Retirement communities group Lifestyle Communities Limited (ASX: LIC) saw its share price plunge at the open, ultimately finishing 37 per cent lower after a tribunal decision found its lucrative deferred management fees, otherwise known as exit fees, were invalid under state laws, likely impacting revenue significantly. Shares in BHP Group Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell slightly, down 1 and 0.6 per cent respectively, as the iron ore price remained volatile and expectations grew that their jointly owned Chilean copper mine may be hit by the planned tariffs. Telix Pharmaceuticals Limited (ASX: TLX) jumped by more than 5 per cent as the group’s prostate imaging agent was granted permanent insurance coverage by the US Medicare system, in big news for the company. Meanwhile, Bega Cheese Limited (ASX: BGA) is finally shutting down its peanut processing centre in Australia, with the asset losing up to 10 million dollars per year in recent years.

 

NVIDIA tops US$4 trillion, Asia stocks to rally, tech boom returns

The latest tariff letters weren’t enough to dampen a renewed rally in big tech shares, with NVIDIA Corporation (NASDAQ: NVDA) becoming the first company to reach a US$4 trillion valuation overnight, rallying 20 per cent so far this year. The chipmaker also pushed the mega cap index 1 per cent higher, with the S&P 500 Index (NYSE: SPX) and Dow Jones Industrial Average (INDEXDJX: DJI) both posting a 0.6 per cent gain. Donald Trump announced a new group of tariffs including 50 per cent on large exporter Brazil, while citing political issues as a reason for the aggressive approach. The Federal Reserve Board remains mixed on whether the tariffs will have an impact on inflation, with this the key reason behind the latest rate hold.

 

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Daily Market Update: 11 July, 2025

The key takeaways from the last 24 hours

Asx wins on iron ore gains, China growth surprise, healthcare sold on Trump risk

The local market managed another positive day, as yesterday’s losers became today’s winners. The healthcare and tech sectors were the weakest, falling 0.5 and 0.4 per cent respectively, while materials gained strongly, adding 1.2 per cent. The biggest driver was a stronger-than-expected result from the Chinese manufacturing sector, which supported iron ore prices and boosted the likes of BHP Group Limited (ASX: BHP) to solid gains, adding more than 1 per cent. The banking sector also resumed its positive trend, with both Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Limited (ASX: NAB) rallying strongly despite the Reserve Bank of Australia (RBA)’s decision to hold rates. Gold miners also supported the materials sector, with prices hitting US$3,330 per ounce once again, and Evolution Mining Limited (ASX: EVN) gaining close to 4 per cent. Lifestyle Communities Limited (ASX: LIC)posted a rebound, gaining over 9 per cent after a difficult week for the retirement living group.

 

Telix to avoid tariff hit, CSL under pressure, Imricor smashed on FDA delays

Healthcare technology company Pro Medicus Limited (ASX: PME) has continued its recent charge, adding more than 1 per cent and moving beyond 320 dollars per share once again. This comes amid growing concern of US tariffs and their potential impact on Australian healthcare leaders. CSL Limited (ASX: CSL) was weaker, falling 0.8 per cent, as concerns about the impact of a 200 per cent tariff by the US continue to linger. Shares in cardiac catheter group Imricor Medical Systems Inc (ASX: IMR) were among the weakest performers, with the shares dropping 15 per cent after the company announced a delay in expected US FDA approvals. Telix Pharmaceuticals Limited (ASX: TLC), on the other hand, stands out as a company likely to be exempt from the changes and has been a short-term beneficiary.

 

S&P 500 rallies to record, Apple, Tesla gain, NVIDIA chief meets Trump

The S&P 500 Index (NYSE: SPX) rallied to another all-time high overnight, gaining 0.3 per cent as the surge in mega-cap tech continued. Tesla Inc (NASDAQ: TSLA) posted a 4 per cent gain after the company flagged plans to expand its Robotaxi service to two more cities. Apple Inc (NASDAQ: AAPL) moved higher, boosting the NASDAQ Composite Index (NASDAQ: IXIC) to a 0.1 per cent gain, after the company disclosed it was planning on a massive rollout of new iPhones, iPads, and Macs. NVIDIA Corporation (NASDAQ: NVDA) remained above US$4 trillion, with CEO Jensen Huang meeting with President Donald Trump ahead of a planned visit to China in the coming days, while JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon warned that markets appear to be ‘complacent’ with tariffs and that a deal between the US and Europe ‘needs to get done’.

 

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Daily Market Update: 14 July, 2025

The key takeaways from the last 24 hours

ASX closes lower despite iron ore rebound; BHP and Rio Tinto extend gains, Johns Lyng jumps on takeover

The local market briefly broke through the 8,600 point level on Friday, only to finish 9 points lower, as the S&P/ASX 200 Index (ASX: XJO) closed down 0.1 per cent. The weakness was due to another barrage of tariff announcements from Trump: a plan to levy every trading partner a tariff of 15 to 20 per cent, and 35 per cent on Canadian imports. The result was a 0.3 per cent decline for the week. The materials sector was the standout as Rio Tinto Limited (ASX: RIO) gained 2.3 per cent and BHP Group Limited (ASX: BHP) 2.8 per cent, as Chinese stimulus hopes grow. BHP has climbed more than 10 per cent in the last three weeks, and Fortescue Metals Group Limited (ASX: FMG) an impressive 17 per cent. Engineering group Johns Lyng Group Limited (ASX: JLG) was the ultimate standout as the company agreed to a $1.3 billion deal that will see it sold to Pacific Equity Partners for $3.90 per share, with the stock up 22 per cent on the news. Ventia Services Group Limited (ASX: VNT) fell close to 2 per cent despite the company increasing the scope of its agreement with the NBN by nearly $300 million.

 

 

Markets stall on tariff talk, but historical trends signal upside; Tesla expands to India, Ferrero makes $3.1 billion play

The Dow Jones Industrial Average (INDEXDJX: DJI) fell 0.6 per cent, while the S&P 500 Index (NYSE: SPX) slipped 0.3 per cent from an all-time high as tariff rhetoric intensified once again. A rally that saw five record highs in nine trading days showed signs of reversing amid the threat of a 35 per cent tariff on key Canadian imports. Kraft Heinz Company (NASDAQ: KHC), known for its ketchup, rose more than 2 per cent as management flagged plans to sell off parts of the slowing global business, while Bitcoin hit another all-time high as index and ETF providers continue to enter the market. Five of the Magnificent Seven gained, including Tesla Inc (NASDAQ: TSLA), which climbed more than 1 per cent after the company confirmed the opening of its first Indian store and the intention to start deliveries sooner rather than later. According to analysis, any time the S&P 500 Index (NYSE: SPX) increases more than 20 per cent in two months or less, it has been consistently higher 12 months later, and by an average of 15 per cent. Ferrero International, the Italian food brand, has shocked the market in a deal to buy US giant WK Kellogg for USD 3.1 billion, a premium of 31 per cent to the closing price.

 

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Daily Market Update: 15 July, 2025

The key takeaways from the last 24 hours

ASX dips slightly as banks drag index

The Australian sharemarket edged lower on Monday, with the S&P/ASX 200 Index (ASX: XJO) slipping 9.7 points or 0.1 per cent to 8570.4, while the All Ordinaries Index (ASX: XAO) also eased 0.1 per cent to 8815.3. The decline was led by losses in the industrials and banking sectors, with Commonwealth Bank of Australia (ASX: CBA) down 0.4 per cent, while Westpac Banking Corporation (ASX: WBC)and Australia and New Zealand Banking Group Limited (ASX: ANZ) also ended the day lower. Tech stocks followed suit, with Zip Co Limited (ASX: ZIP) falling 2.8 per cent, Appen Limited (ASX: APX)down 3.2 per cent, and Block Inc (ASX: SQ2) dropping 5.3 per cent.

 

 

Gold and mining stocks lift amid tariff tensions

Gold miners on the ASX rallied in response to renewed tariff threats from US President Trump, which boosted demand for gold. Northern Star Resources Limited (ASX: NST) rose 1.7 per cent, Evolution Mining Limited (ASX: EVN) climbed 1.9 per cent, and Newmont Corporation (ASX: NEM) added 1.7 per cent. Rising iron ore prices also benefited mining heavyweights, with BHP Group Limited (ASX: BHP) up 0.9 per cent, Rio Tinto Limited (ASX: RIO) gaining 0.6 per cent, and Mineral Resources Limited (ASX: MIN) firming 1.5 per cent. Notable corporate moves included DroneShield Limited (ASX: DRO) surging 17 per cent on expansion plans, Abacus Storage King (ASX: ASK) jumping 5.8 per cent on a takeover offer, and Hansen Technologies Limited (ASX: HSN) rising 10.9 per cent on upgraded earnings guidance.

 

 

Global markets steady as tariffs loom

US markets closed slightly higher on Monday despite fresh tariff announcements from President Trump, who plans to implement 30 per cent duties on goods from the EU and Mexico starting August 1. The S&P 500 Index (NYSEARCA: SPY) edged up 0.1 per cent, the Dow Jones Industrial Average (INDEXDJX: DJI) rose by 88 points, and the Nasdaq Composite Index (NASDAQ: IXIC) gained 0.3 per cent, supported by strength in tech giants such as Meta Platforms Inc (NASDAQ: META) and Netflix Inc (NASDAQ: NFLX). Investors are awaiting key second-quarter earnings reports from banks like JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC), alongside the upcoming US CPI data for June. Among mega-cap names, Tesla Inc (NASDAQ: TSLA) rose 1 per cent after Elon Musk announced a shareholder vote on the company’s investment in xAI.

 

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Daily Market Update: 16 July, 2025

The key takeaways from the last 24 hours

Tech and healthcare lead ASX to fresh highs

The Australian sharemarket climbed to a new record on Tuesday, driven by strong performances in the technology and healthcare sectors. The S&P/ASX 200 Index (ASX: XJO) gained 59.9 points, or 0.7 per cent, to close at 8630.3, with ten of the eleven sectors in positive territory. A strong GDP reading from China and optimism around trade talks helped fuel investor confidence. The tech sector followed gains in US Nasdaq futures, buoyed by NVIDIA Corporation (NASDAQ: NVDA)‘s announcement to resume AI chip sales to China. Standout performers included WiseTech Global Limited (ASX: WTC), Xero Limited (ASX: XRO), Life360 Inc. (ASX: 360), and Appen Limited (ASX: APX).

 

 

Iron ore slide hits miners despite broader rally

Healthcare names added momentum to the rally, with CSL Limited (ASX: CSL) and Pro Medicus Limited (ASX: PME) both posting notable gains. The major banks, including Commonwealth Bank of Australia (ASX: CBA) and Macquarie Group Limited (ASX: MQG), also saw gains. However, the materials sector lagged, pressured by a decline in iron ore prices after Chinese housing data revealed a continued slide in new home prices. This weighed on mining heavyweights BHP Group Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO). In corporate news, Hub24 Limited (ASX: HUB) jumped following strong fund inflow data, while Tyro Payments Limited (ASX: TYR) slumped on news of upcoming regulatory changes.

 

 

Global markets react to inflation and earnings

International markets closed mixed as investors weighed hotter-than-expected US inflation data and corporate earnings. The S&P 500 Index (NYSE: SPX) fell 0.4 per cent, the Dow Jones Industrial Average (NYSE: DJI) dropped 436 points or 1 per cent, while the Nasdaq 100 Index (NASDAQ: NDX) edged up 0.1 per cent near record levels, boosted by a 4 per cent jump in NVIDIA Corporation (NASDAQ: NVDA). The US Consumer Price Index rose 0.3 per cent month-on-month and 2.7 per cent year-on-year, intensifying concerns over potential inflationary pressures from proposed tariffs by President Trump. Among major banks, Wells Fargo & Co. (NYSE: WFC) and JPMorgan Chase & Co. (NYSE: JPM) declined after mixed results, while Citigroup Inc. (NYSE: C) advanced on strong earnings and a share buyback announcement.

 

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Daily Market Update: 17 July, 2025

The key takeaways from the last 24 hours

ASX retreats as banks and materials weigh on sentiment
The Australian share market experienced its steepest one-day drop since May, as investor sentiment soured on the back of persistent US inflation and renewed tariff concerns. The S&P/ASX 200 Index (ASX: XJO) declined by 0.8 per cent to close at 8561.80, retreating from record highs. Market analyst Tony Sycamore from IG Group Holdings plc (LON: IGG)cautioned that a further slip below the 8530–8510 range could trigger a deeper correction toward the 200-day moving average near 8250. Banks led the downturn, with National Australia Bank Limited (ASX: NAB) sliding 3.4 per cent despite internal board support for its CEO. Westpac Banking Corporation (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA), and Australia and New Zealand Banking Group Limited (ASX: ANZ) also posted losses.

 

Materials and healthcare sectors under pressure
Market sentiment extended into the materials and healthcare sectors. Analysts from Citigroup Inc. (NYSE: C) advised caution on iron ore gains, suggesting speculative Chinese demand rather than strong fundamentals. Despite this, iron ore futures edged higher in Singapore, helping Rio Tinto Limited (ASX: RIO) close 0.2 per cent higher following robust Q2 production data. BHP Group Limited (ASX: BHP) fell 0.7 per cent, while CSL Limited (ASX: CSL) dropped 1.3 per cent amid renewed tariff threats on pharmaceuticals. Among individual movers, Megaport Limited (ASX: MP1) surged 6.3 per cent after a Macquarie upgrade. Iluka Resources Limited (ASX: ILU) added 4.3 per cent, boosted by a bullish outlook and industry developments. On the downside, Newmont Corporation (NYSE: NEM) fell 5.7 per cent after a leadership change and asset sales, while South32 Limited (ASX: S32) and Evolution Mining Limited (ASX: EVN) also posted notable declines.

 

Global markets remain cautious amid mixed signals
US markets showed caution as traders digested remarks from President Donald Trump and the latest Beige Book report highlighting persistent economic uncertainty. US producer prices were flat in June, while annual wholesale inflation eased to 2.3 per cent – its lowest since September. In corporate news, Tesla Inc. (NASDAQ: TSLA) is set to launch a six-seat version of its Model Y in China to regain competitive edge, and Johnson & Johnson (NYSE: JNJ) beat earnings expectations and raised its guidance despite industry headwinds. Meanwhile, ASML Holding N.V. (NASDAQ: ASML) CEO Christophe Fouquet trimmed sales growth projections for 2026 due to ongoing trade tensions and geopolitical uncertainties.

 

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