Live: Wall Street dips as consumer sentiment slumps, ASX to keep sliding

Wall Street's record-breaking four-day streak came to a halt on Friday after a survey showed consumer sentiment was souring and oil prices continued to rise.The ASX is priced for its fifth consecutive session of losses with NAB due to release third quarter results while JB Hi Fi, BlueScope Steel and Lendlease are scheduled to report full year earnings this morning.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.Mon 17 Aug 2026 at 6:42amMon 17 Aug 2026 at 6:42amMarket snapshotASX 200 futures: -0.4% to 9,015 pointsASX 200 (Friday): -0.8% to 9,115 pointsAustralian dollar: +0.4% to 70.87 US centsWall Street (Friday): S&P 500 -0.2%, Dow -0.2% Nasdaq -0.3%Europe (Friday): Dax +0.5%, FTSE -0.2%, Eurostoxx -0.1%Spot gold: +0.7% to $US4,380/ounceOil: Brent futures +1.7% to $US88.52/barrel, WTI futures +1.4% to $US82.40/barrelIron ore (Friday): +0.3% to $US95.80/tonneCopper (LME, Friday): flat at $US14,136/tonneBitcoin: +0.1% to $US63,075Prices current at around 6:45am AESTMon 17 Aug 2026 at 7:00amMon 17 Aug 2026 at 7:00amWall Street dips as consumer sentiment slumps, ASX to keep slidingWall Street's recent rally came to a shuddering halt on Friday thanks to increased anxiety about the US failing to extricate itself from its Middle East quagmire and wilting consumer sentiment.Even putting the 6% rise in global oil prices over the week to one side, US consumers are becoming increasingly jaded about their cost-of-living pressures.The keenly observed University of Michigan's consumer sentiment survey came in at 51 points in August, below expectations of 54.5.US retail sales data released on Friday also showed a surprising and sharp decline in consumer spending.The data further reduced expectations of a Federal Reserve rate hike at next month's meeting.US Treasuries fell on Friday, pushing the US dollar down and giving the Aussie dollar a lift to just under 71 US cents.Wall Street's close showed all key indices, as well as the global MSCI, losing ground.S&P 500: -0.2%Dow: -0.2%Nasdaq: -0.3%MSCI: -0.1%The ASX looks like following that trend with futures trading on Saturday morning's close pointing to a 0.4% decline today.Over the week the S&P 500 rose 0.4% while the ASX 200 fell 1.6%.The S&P 500's slip from record highs was in part driven by selling in chipmakers such as Applied Materials, Broadcom and Intel.European shares finished lower on Friday and snapped a four-week winning streak, as rising crude prices and renewed geopolitical tensions offset support from a resilient earnings season.Oil prices continued to bubble up as there is no end in sight to hostilities in the Middle East.Brent crude oil futures: +1.7% to $US88.52 a barrelWest Texas Intermediate crude futures: +1.4% to $82.40Senior portfolio manager for fixed income at Federated Hermes, John Sidawi, told Reuters a puzzling feature of markets in recent months has been the growing disconnection between geopolitical uncertainty and asset price volatility."For now, markets appear willing to tolerate a significant amount of uncertainty without demanding higher risk premiums. However, this equilibrium is unlikely to be permanent," Mr Sidawi said."A meaningful escalation in conflict or a clear path toward resolution could finally force investors off the sidelines, potentially triggering a much larger volatility response than current market pricing implies."Gold is one beneficiary of the current situation, up almost 1% to $US4,390/ounce, its highest level since early June.Mon 17 Aug 2026 at 6:40amMon 17 Aug 2026 at 6:40amGood morningGood morning and welcome to another day on the ABC markets and finance blog.Stephen Letts from ABC business team 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 in retreat with the S&P 500 down 0.2% as a key survey showed consumer sentiment in the US was wilting under cost-of-living pressures.Oil prices continued to rise as uncertainty about an end to the US-Iran war rolled on.The ASX looks like continuing its recent run of losses.When trading closed on Saturday morning, ASX 200 futures pointed to a 0.4% decline today.We expect to see NAB's Q3 trading update soon in what is a busy week featuring around 80 of the biggest companies reporting this week.Among those delivering results today are JB HiFi, a2 Milk, Aurizon, BlueScope Steel, GPT and Lendlease.We will also get important insights into the Chinese economy with monthly retail sales, industrial production and fixed asset investment, which tallies up spending in the important construction and property sector.China's National Bureau of Statistics is indicating a much later drop than usual (around 5pm AEST), so it might be a bit tight to make the blog's deadline.As always, the game's afoot, so let's get blogging.