Live: Earnings results for key US companies move markets ahead of local inflation data
Big earnings results for key US companies have moved markets ahead of local inflation data dropping tomorrow.
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.
Key Events
40m ago
40 minutes ago
Mon 28 Apr 2025 at 9:34pm
Live updates
Latest
Oldest
Pinned
33m ago
Mon 28 Apr 2025 at 9:41pm
Market snapshot
D
By Daniel Ziffer
ASX 200 futures:
-0.7% to 7,980 points
Australian dollar: +0.4 to 64.30 US cents
Dow Jones: +0.35 to 40,227 points
S
&
P 500: +0.1% to 5,528 points
Nasdaq: -0.1% to 17,366 points
FTSE: flat at 8,417 points
EuroStoxx: +0.5% to 523 points
Spot gold: +1.7% to $US3,354/ounce
Brent crude: -1.8% to $US61.89/barrel
Iron ore: flat at $US98.92/tonne
Bitcoin: +0.7% to $US94,399
Prices current around 7:45am AEDT.
Live updates on the major ASX indices:
10m ago
Mon 28 Apr 2025 at 10:04pm
James Hardie deal set to change ASX rules
D
By Daniel Ziffer
To bring you up to speed with events from yesterday and overnight, the
Australian Securities Exchange has said it will review shareholder approval requirements for large corporate buyouts by listed companies
, after investors questioned James Hardie Industries' $8.7 billion deal for
for U.S. builder AZEK
The ASX had
given the fibre-cement maker a waiver to avoid a shareholder vote on the deal,
angering investors who had campaigned against it.
In a statement it acknowledged the choice:
"ASX acknowledges that Australian institutional investors are concerned that the current settings for shareholder approval requirements may not provide them with enough of a voice" .
A group of investors, including some of Australia's largest superannuation funds, had called for a review of listing rules,
arguing it was unfair that companies could issue a large amount of shares for acquisitions without shareholder approval
.
The investors said James Hardie's AZEK deal would dilute existing shareholders' interests and change their rights without any vote.
James Hardie also plans to shift its primary listing to New York
after the deal which shareholders said could reduce their ability to hold management accountable.
James Hardie said in a statement on Monday
it would hold a shareholder vote to approve the shift to New York as its primary listing.
The AZEK transaction and the share issuance will still proceed without the need for shareholder approval.
Some James Hardie investors have argued the Australian-listed company has agreed to pay too much for AZEK at a time when the U.S housing market is weak/
- with Reuters
27m ago
Mon 28 Apr 2025 at 9:47pm
Are the US and China negotiating?
D
By Daniel Ziffer
China has again denied that it is in talks with Washington to resolve its trade war with the US.
President Donald Trump says negotiations are happening to deal with an escalating dispute kicked off by the US leader when he imposed sweeping tariffs (taxes on imports).
But in a press conference Chinese Foreign Ministry spokesman Guo Jiakun said there are no talks.
'Let me make it clear one more time that China and the US are not engaged in any consultation or negotiation on tariffs.'
After the April tariff announcement on so-called 'Liberation Day' the world's two largest economies - the US is bigger - then began a back and forth, threatening larger and larger imposts on the trade between them.
With interlinked supply chains making things the US needs, it's unsurprising there was an attempt at de-escalation, but there's no clarity at the moment about how it's going.
That the US says there are talks and China says there is not is probably not a great sign.
Key Event
40m ago
Mon 28 Apr 2025 at 9:34pm
Good morning!
D
By Daniel Ziffer
Hello, I'm Daniel Ziffer from the ABC business team and I'll be taking you through the morning on our business, finance and economics blog.
Overnight, Wall Street indices were mixed: up, flat, down.
The blue-chip Dow Jones
of 30 mega-companies like Boeing and Visa was
+0.3% to 40,227 points.
The broader S
&
P 500 that covers 500 of the largest listed companies in the
US
was flat,
+0.06% to 5,528 points.
The tech-heavy Nasdaq fell lower,
-0.1% to 17,366 points.
These numbers are live, and trading is continuing, we'll update you when there's a firm closing price.
Our market is set to fall, with the ASX 200 futures index tipping a slide of
-0.7% of 53 points to 7,980 points.
There's lots to get to, all of it news, analysis and information and
none of it financial advice
.
Let's get started!
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15 minutes ago
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US stocks are drifting closer to their records as the world's two largest economies begin talks on trade that could help avoid a recession. The S&P 500 was 0.3 per cent higher in late trading. The Dow Jones was up 93 points, or 0.2 per cent, with an hour remaining in trading, and the Nasdaq composite was 0.5 per cent higher. The Australian sharemarket is set to advance, with futures at 5am AEST pointing to a gain of 16 points, or 0.2 per cent, at the open. The ASX was closed on Monday for the King's birthday public holiday. The Australian dollar strengthened. It was 0.3 per cent higher at 65.25 US cents at 5.13am AEST. Officials from the United States and China are meeting in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each's punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue. Hopes that President Donald Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20 per cent from its record two months ago. It's back within 2 per cent of its all-time high, which was set in February, and it's higher than it was before Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called 'Liberation Day.' This may be the shortest sell-off following a shock of heightened volatility on record, according to Parag Thatte, Binky Chadha and other strategists at Deutsche Bank. Typically, stocks take around two months to bottom following a spike in volatility and then another four to five months to recover their losses. This time around, stocks have basically made a round trip in less than two months. But nothing is assured, of course, and that helped keep trading relatively quiet on Wall Street Monday. Loading Some of the market's biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.4 per cent after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 1.6 per cent after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion.
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