Australian shares hit fresh high on mining and banks boost
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Australian shares rose to a record high on Thursday, driven by miners and banks, while investors awaited U.S. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday to gauge the interest rate trajectory.The S&P/ASX 200 index was up 0.6% at 8,966.80, as of 0043 GMT, after touching a fresh high of 8,973.70 earlier in the session.The benchmark has gained 2.6% so far this month, hitting multiple record highs as risk sentiment improved due to a slew of factors including an interest rate cut and positive corporate earnings.Investors around the globe are focussed on whether Powell will push back against market expectations for a rate cut next month when he speaks at the Fed's Jackson Hole symposium on Friday, following a weak jobs report for July.Traders are currently pricing in around an 82% chance of a 25-basis-point rate cut in September, according to the CME Fedwatch tool.Back in Australia, investors focussed on corporate earnings.Australia-listed shares of James Hardie deepened their rout from Wednesday, falling as much as 9.6% to A$28.92, their lowest level since January 20, 2023.The fibre cement maker on Wednesday flagged a bleak outlook for fiscal 2026 and forecast earnings below street view.Whitehaven Coal fell as much as 4.2% to a one-month low of A$6.160, as the coal miner's annual profit declined by more than half.Miners rose 1%, with BHP and Rio Tinto up 0.1% and 0.9%, respectively.Financials climbed 0.3%, with the "big four" banks rising between 0.1% and 0.7%.New Zealand's benchmark S&P/NZX 50 index rose 0.4% to 13,126.80.The Reserve Bank of New Zealand said the effect of interest rate cuts on the local economy had been slower than expected, with tariff threats impacting business and consumer confidence.
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Economic Times
7 minutes ago
- Economic Times
Dow, S&P futures dip as Walmart misses; Nasdaq steadies on Nvidia bounce, Tesla slides
Synopsis US Stock Futures Today opened with mixed signals as Wall Street traders weighed tech sector uncertainty against the Federal Reserve's next big policy move. Dow and S&P 500 futures pointed lower, while the Nasdaq managed to hold steady, showing how fragile investor confidence remains. Retail earnings, particularly from Walmart, and Jerome Powell's Jackson Hole speech are setting the stage for a volatile trading day. Wall Street is bracing for a cautious open on Thursday, August 21, with futures pointing to mixed momentum across major indexes. Investors are weighing Walmart's latest earnings, lingering pressure on big tech, and the Federal Reserve's policy outlook as the Jackson Hole symposium looms. U.S. stock futures opened Thursday with an uneven tone, as investors weighed fresh doubts over the sustainability of the tech rally against the high-stakes policy signals expected from the Federal Reserve. The Nasdaq-100 managed to edge higher in pre-market trading, but both the Dow Jones and S&P 500 pointed lower, reflecting broader caution. Traders are torn between chasing growth in artificial intelligence names and bracing for potential shocks from Fed Chair Jerome Powell's Jackson Hole remarks, which could reshape expectations for rate cuts heading into the fall. Dow Jones futures slipped roughly 0.3% , signaling a softer tone for blue-chip equities. slipped roughly , signaling a softer tone for blue-chip equities. S&P 500 futures eased about 0.1–0.2% , hinting at a cautious tone for broad-market index investors. eased about , hinting at a cautious tone for broad-market index investors. Nasdaq-100 futures nudged lower by nearly 0.1–0.2%, reflecting subdued sentiment in the tech-heavy segment. U.S. stock futures were mixed on Thursday morning, with investors wrestling over tech volatility, Walmart's earnings, and the looming Jackson Hole policy speech from Fed Chair Jerome Powell. The Nasdaq-100 inched higher, while Dow and S&P 500 futures slipped modestly, reflecting a market caught between growth optimism and macroeconomic uncertainty. The Nasdaq-100 futures edged up about 0.07%, offering a small cushion after several days of bruising losses in technology shares. Traders are questioning whether the artificial intelligence boom can sustain the lofty valuations that sent semiconductor and cloud stocks surging earlier this year. The concern isn't simply about price tags. Analysts say rising capital expenditures and slowing revenue growth could expose tech leaders to profit margin pressure. That's why even a modest green print on Nasdaq futures is notable — it suggests investors aren't abandoning the sector entirely but are instead bracing for a more selective tech rally. In contrast, Dow Jones Industrial Average futures were down around 0.16%, while S&P 500 futures slipped 0.02%. Those moves reflect anxiety outside of big tech, particularly in consumer and retail names. Walmart's earnings release later today will serve as a proxy for U.S. household spending power. If Walmart signals shoppers are trading down or pulling back on discretionary goods, that could reignite recession chatter. On the flip side, a strong quarter might reinforce the Fed's cautious stance — good for the economy, but potentially bad for rate-cut hopes. Walmart takes center stage today as it delivers quarterly earnings that will set the tone for consumer confidence in the U.S. economy. Traders are watching not only headline revenue and profit figures but also the retailer's commentary on inflation and household spending patterns. If Walmart signals that shoppers are pulling back on discretionary items, it could reinforce concerns about slowing growth. A strong report, on the other hand, may spark optimism but also dampen expectations of an imminent Fed rate cut, since resilient spending reduces pressure to ease policy. Nvidia, the face of the artificial intelligence rally, remains under pressure as investors question whether sky-high valuations can be justified. The company's dominance in GPUs is unquestioned, but with competitors ramping up and capex demands soaring, the market is bracing for thinner margins ahead. Futures show tepid support for the stock, and today's trading could set the tone for how investors treat the broader AI sector. Nvidia is effectively the barometer for tech sentiment, and even small moves in its shares ripple across the Nasdaq. Tesla continues to test investor patience with mounting questions about demand, pricing power, and global competition. The EV maker is under pressure after a series of aggressive price cuts designed to maintain market share, which in turn squeezed margins. Investors are looking for signs of stabilization in delivery forecasts and any updates on new models or energy initiatives. For now, Tesla remains a swing stock: a single headline on production or China demand can quickly turn market sentiment. Apple is holding steady in futures trading, with attention already shifting toward its September product event. Investors expect a refresh of the iPhone lineup and possibly updates on AI integration across services. While Apple hasn't been at the center of the AI frenzy like Nvidia, its ability to monetize services and expand ecosystem stickiness keeps it a defensive play. The key question is whether upcoming launches can spark enough excitement to push revenue growth back into higher gear. Palantir is struggling after a steep decline in recent sessions, as enthusiasm over its AI-driven contracts collides with hard questions about valuation. The company remains heavily reliant on government deals, and investors are pressing for stronger growth from its commercial segment. Today, Palantir stands as a cautionary tale in the AI space: it proves that not every company tied to the buzzword can deliver earnings to match investor expectations. Traders will be watching closely to see if bargain hunters step in after the selloff, or if weakness continues. Walmart (WMT) — Down ~2.5% after missing profit estimates despite raising guidance. — Down ~2.5% after missing profit estimates despite raising guidance. Nvidia (NVDA) — Up ~0.6%, recovering some ground after heavy AI-driven selloffs. — Up ~0.6%, recovering some ground after heavy AI-driven selloffs. Tesla (TSLA) — Down ~1.6%, weighed by competitive pressures and cautious sentiment. — Down ~1.6%, weighed by competitive pressures and cautious sentiment. Meta Platforms (META) — Slightly lower following AI division hiring freeze reports. — Slightly lower following AI division hiring freeze reports. Palantir (PLTR) — Gained in early trade after showing resilience in software demand. — Gained in early trade after showing resilience in software demand. First Solar (FSLR) and Nordson (NDSN) — Also among notable pre-market movers, reflecting sector-specific news flows. This mix highlights a market still caught between optimism about earnings resilience and anxiety over policy, tech valuations, and slowing growth. For many, today's futures action is less about earnings and more about the Federal Reserve's Jackson Hole symposium. Investors are betting heavily on at least one rate cut before year-end, but Powell's speech tomorrow will determine how aggressive the Fed intends to be. Market strategists warn that if Powell doubles down on inflation vigilance, futures could swing sharply lower as bond yields rise. Conversely, any hint of flexibility could unlock a fresh risk rally, particularly in cyclical and growth sectors. The early divergence between Nasdaq resilience and Dow weakness underscores a deeper theme: the U.S. market is searching for a new leadership story. AI stocks are no longer a guaranteed driver, and consumer spending remains under the microscope. Short-term traders should expect choppy intraday swings tied to Walmart's results and bond yield moves. should expect choppy intraday swings tied to Walmart's results and bond yield moves. Long-term investors may want to pay closer attention to Powell's tone tomorrow, as it will shape September's policy path and determine whether this market is setting up for a late-summer rebound or another leg lower. The next 24 hours carry outsized importance. Jerome Powell's Jackson Hole remarks will test whether the Fed leans more dovish or sticks to a cautious 'higher for longer' narrative. Traders are also eyeing weekly jobless claims and August business activity data for fresh signals on economic momentum. For stock pickers, the key will be separating short-term earnings noise from longer-term structural stories. Walmart's margin concerns, Nvidia's AI demand outlook, and Tesla's competitive landscape all sit at the intersection of near-term volatility and big-picture trends. Q1: What is the performance of US stock futures today? US stock futures are mixed, with Dow and S&P lower while Nasdaq holds steady. Q2: Why are US stock futures down today? Concerns over tech valuations, Fed policy signals, and retail earnings weigh on futures.
News18
15 minutes ago
- News18
Gold climbs Rs 600 to Rs 1,00,620/10 g, silver surges Rs 1,500
Agency: Last Updated: New Delhi, Aug 21 (PTI) Gold prices climbed Rs 600 to Rs 1,00,620 per 10 grams in the national capital on Thursday amid fresh buying by stockists, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had settled at Rs 1,00,020 per 10 grams on Wednesday. In the national capital, gold of 99.5 per cent purity jumped Rs 500 to Rs 1,00,200 per 10 grams (inclusive of all taxes) on Thursday. The precious metal had closed at Rs 99,700 per 10 grams in the previous session. 'Gold prices rose on Thursday, driven by safe haven demand and bargain buying after the price fell to a three-week low in the previous session. 'The renewed demand for safe haven was spurred by President Donald Trump's call for the resignation of a Federal Reserve governor, which raised concerns about the central bank's independence," Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. Following this comment, the US Dollar retreated from its recent high, further supporting gold prices, Gandhi added. In addition, silver prices surged by Rs 1,500 to Rs 1,14,000 per kilogram (inclusive of all taxes) on Thursday. It had finished at Rs 1,12,500 per kg on Wednesday, according to the association. In the international markets, spot gold was trading 0.28 per cent lower at USD 3,339.04 per ounce in New York. 'Gold is holding steady near USD 3,340 per ounce as investors await key US macroeconomic data, including jobless claims, PMIs, and existing home sales. 'However, the main focus remains on Fed Chair Jerome Powell's speech at the Jackson Hole Symposium as investors are watching closely for signs of a monetary policy shift, particularly after last year's remarks signalled the start of a rate-cutting cycle," Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said. Meanwhile, minutes from the US Federal Reserve's July meeting revealed that officials remain cautious about inflation and the labour market, with most considering it too soon to cut interest rates. Spot silver also went down by 0.32 per cent to USD 37.78 per ounce. PTI HG BAL BAL view comments First Published: August 21, 2025, 18:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
India Today
19 minutes ago
- India Today
Sensex, Nifty gain for 6th straight session on GST reforms optimism
Benchmark Indian stock indices ended Thursday's trading session on a positive note, buoyed by investor optimism over impending GST reforms and a strong performance in financial and pharmaceutical S&P BSE Sensex closed 142.87 points higher at 82,000.71, while the NSE Nifty50 gained 33.20 points to settle at 25,083.75. Despite the headline gains, broader market indices struggled, reflecting tepid corporate earnings in the session's top gainers were Cipla, Dr Reddy's Laboratories, Bajaj Finserv, ICICI Bank, and Hindalco, which benefited from sector-specific optimism. In contrast, laggards included Tata Consumers, Bajaj Auto, Eternal, Power Grid, and IndusInd Bank, indicating selective buying amid cautious sentiment. Vinod Nair, Head of Research at Geojit Investments Limited, noted, 'Indian equities ended mixed, as investors turned to profit booking after a recent rally and concerns over the premium valuation due to the subdued end of Q1 earnings. India's record-high composite PMI in August, reflecting strong expansion in both manufacturing and services, particularly in business activity, may provide stability in the near term. Investors remain cautious ahead of the upcoming Jackson Hole symposium on Friday, and rising domestic bond yields due to fiscal concerns surrounding GST rationalization.'The session highlighted a market in cautious optimism. Financial and pharma stocks led the upside, reflecting expectations that GST rationalization could ease input costs and improve sectoral profitability. At the same time, muted Q1 results in other sectors kept investors wary of broad-based watchers suggest that near-term momentum may hinge on policy clarity and global cues. The Jackson Hole economic symposium, scheduled for Friday, could influence investor sentiment, particularly with regard to U.S. monetary policy and its potential impact on emerging say that while headline indices show resilience, the underlying market breadth indicates selective buying. Sector-specific trends are likely to dominate in the coming days, with earnings, government policy, and macroeconomic indicators guiding investor strategy- Ends
