Good morning, and welcome to the ABC’s finance blog. I’ll be here to guide you through the latest business and economic news \u2014 and there’s a lot happening.<\/p>\n
For starters, the Australian share market (which climbed to its highest levels ever in yesterday’s session) is likely to post a new record high, when it starts trading in a few hours.<\/p>\n
ASX futures are pointing to a 0.2% rise for local shares.<\/p>\n
It comes after yesterday’s decision by the Reserve Bank <\/b>to deliver its third rate cut for the year, taking the cash rate down to 3.6% (its lowest in more than two years).<\/p>\n
Wages and corporate profits<\/p>\n
Later this morning, the ABS will release its Wage Price Index<\/b> for the June quarter. It will reveal how much of a pay rise Australian workers received on average (and is a useful gauge of business inflation).<\/p>\n
In company news, several major companies will release their financial results today including AGL Energy, Commonwealth Bank, Treasury Wine Estates <\/b>and Insurance Australia Group (IAG)<\/b>. We’ll let you know how they have fared as soon as their earnings are out.<\/p>\n
US markets hit new records<\/p>\n
Overseas, Wall Street also hit new records as US investors celebrated lower-than-expected inflation data \u2014 which has yet to show the impact of Donald Trump’s higher tariffs on consumer prices.<\/p>\n
If you really want to know, America’s consumer price index went up 0.2% in July<\/b>\u00a0and 2.7% over the past year <\/b>(compared to the 0.2% monthly and 2.8% annual gain that economists were expecting).<\/p>\n
As a result, the odds of the US Federal Reserve cutting interest rates at its next board meeting surged above 90%, according to the latest market pricing.<\/p>\n
The S&P 500 (+1.1%) and Nasdaq Composite (+1.4%) hit new records, while the Dow Jones (+1.1%) is close<\/b>, but not quite there yet.<\/p>\n
Meanwhile, grab a coffee (or tea), and stay tuned.<\/p>\n","protected":false},"excerpt":{"rendered":"Good morning, and welcome to the ABC’s finance blog. I’ll be here to guide you through the latest…\n","protected":false},"author":3,"featured_media":50000,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[17705,37830,64,12847,9400,9401,135,17709,270,17710,2274,67,132,68,37831,3642],"class_list":{"0":"post-140806","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-asx","9":"tag-aud","10":"tag-business","11":"tag-dollar","12":"tag-dow-jones","13":"tag-gold","14":"tag-markets","15":"tag-nasdaq","16":"tag-oil","17":"tag-sp","18":"tag-sp-500","19":"tag-united-states","20":"tag-unitedstates","21":"tag-us","22":"tag-usd","23":"tag-wall-street"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115018200857316866","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/140806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=140806"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/140806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/50000"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=140806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=140806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=140806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}