Live: ASX set to lift as Wall Street slump arrested

Mon 24 Aug 2026 at 6:36amMon 24 Aug 2026 at 6:36amMarket snapshotASX 200 futures: +0.5% to 9,028pointsASX 200 (Friday): -0.3% to 9,059 pointsAustralian dollar: +0.4% to 71.68 US centsWall Street (Friday): S&P 500 +0.4%, Dow +1.0%, Nasdaq +0.4%Europe (Friday): Dax +0.6%, FTSE +0.6%, Eurostoxx +0.6%Spot gold: +1.9% to $US4,603/ounceOil: Brent futures +0.6% to $US94.39/barrel, WTI futures +0.3% to $US87.06/barrelIron ore (Friday): +0.5% to $US96.10/tonneCopper (LME): -0.1% to $US14,041/tonneBitcoin: +0.1% to $US77,394Prices current at about 7am AESTMon 24 Aug 2026 at 7:15amMon 24 Aug 2026 at 7:15amASX set to gain as Wall Street's slump is arrestedThe ASX is poised to rise this morning after Wall Street regained some momentum in a jittery week's trading.When futures trading closed on Saturday morning, the ASX 200 was priced to rise about 0.5%, which would claw back a large chunk of the 0.6% it shed last week.The three key Wall Street indices made gains.S&P 500: +0.4%Dow: +1.0%Nasdaq: +0.4%However, over the week, the benchmark S&P 500 fell 1.4%.The tech-centric Nasdaq's rise ended a five-day losing streak.All week, equity market investors had been taking their cues from the direction of US government bond yields as the prospect of higher borrowing costs dampened risk appetite.Nerves were looking increasingly frayed as 30-year Treasury Bond yields hit almost 20-year highs.US Treasury Secretary Scott Bessent attempted to calm markets, saying that the government could further increase its Treasury repurchases after a surprise announcement on Wednesday that it would spend double the expected amount on bond buybacks.Northlight Asset Management chief investment officer Chris Zaccarelli told Reuters that after a seesaw trading week, Friday seemed calmer on Wall Street."In the middle of the week, equity investors were concerned yields could be on a one-way trip higher," Chris Zaccarelli said."With the Treasury Department announcement, investors aren't as worried anymore."So far, the US Treasury's actions have done little to suppress rising interest rates but have done a decent job of undermining the US dollar against most major currencies.The Aussie dollar closed higher last week at 71.74 US cents, its highest weekly close in three months.The US dollar upheaval also saw gold hit a three-month high, climbing above the $US4,600/ounce mark for the first time since May.There was at least a bit of comforting news on the US economic front helping to ease investor worries, with data showing the strongest growth in the US services sector in nearly two years powered a sharp acceleration in overall business activity in August.However, this was offset by a slowing of growth in a manufacturing sector that is being restrained by reduced stock building and supply disruptions from the Iran war.Earlier, UBS Global Wealth Management raised its year-end target for the S&P 500 to 8,100, citing a stronger earnings outlook and robust corporate profit growth.Adding to inflation concerns, however, oil futures settled higher for a sixth straight day, after US President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter supply.Iran shot back with threats of a "devastating" response to any US actions, as disruptions continue to hamper oil shipments through the Strait of Hormuz.Seven commodity ships sailed along the Strait on Thursday, which was only half the previous day's tally, data from ship-tracker Kpler showed.For the week, Brent futures gained 6.4% while US West Texas Intermediate futures rose 5.7%.With ReutersMon 24 Aug 2026 at 6:39amMon 24 Aug 2026 at 6:39amGood morning Good morning and welcome to another day on the ABC markets and finance blog.Stephen Letts from ABC business team here, limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.Wall Street closed the week on a positive note, with the S&P 500 making a solid gain, but not large enough one to erase the 1.4% loss over the week.The ASX looks like also enjoying respite from recent losses.When trading closed on Saturday morning, ASX 200 futures pointed to a 0.5% rise today.It's a busy day ahead, with results expected from the likes of Adairs, Ampol, Bendigo & Adelaide Bank, Chorus, Data#3, Endeavour, Monash IVF, NIB, Nuix, PLS, Reece and Ventia Services.As always, the game's afoot, so let's get blogging.