3h agoWed 10 Sep 2025 at 8:47pmMarket snapsotASX futures: -0.3% at 8,805 points
Australian dollar: +0.5% at 66.15 US cents\u00a0Wall Street:\u00a0Dow Jones: +0.4% to 45,490S&P 500: +0.3% to 6,592Nasdaq: +0.03% to 21,886.
Europe: FTSE (-0.2%), DAX (-0.3%), Stoxx 600 (-0.02%)Spot gold: -0.06% to $US3,680\/ounce\u00a0
Oil (Brent crude): +1.8% to $US67.60\/barrel\u00a0Iron ore: -0.3% to $US107.00\/tonneBitcoin: +0.1% to $US113,796<\/p>\n
Values at approx. 8:37am AEST<\/p>\n
28m agoWed 10 Sep 2025 at 11:28pmCommonwealth-backed fintech debuts on Wall Street<\/p>\n
In market news, CBA-backed Swedish buy now, pay later Klarna has debuted on Wall Street, giving the firm a market value of more than $US19 billion\u00a0(about $28.7bn) \u2014 before easing into the close.<\/p>\n
The stock opened at $US52\u00a0after pricing at $US40,\u00a0then settled around $US46\u00a0by the end of the session, valuing the company near $US17 billion.<\/p>\n
Klarna launched locally in partnership with the Commonwealth Bank of Australia (CBA)\u00a0in 2020.<\/p>\n
CBA sold about 2 million shares into Klarna\u2019s IPO but still holds about a 4.6% stake in the company.<\/p>\n
59m agoWed 10 Sep 2025 at 10:57pmUS urges Europe to slap China and India with tariffs<\/p>\n
In news overnight, US President Donald Trump is urging European Union officials to slap China and India with tariffs of up to 100 per cent as part of a strategy to end Russia’s war in Ukraine, according to officials.<\/p>\n
Read more here:<\/p>\n
1h agoWed 10 Sep 2025 at 10:33pmCould Israel’s strike on Hamas leaders in Qatar lead to peace?<\/p>\n
Rabobank’s global strategist, Michael Every, says Israel’s strike could further destabilise the Middle East or provide a reset, which could see a rapid ceasefire in the Israel-Gaza war.<\/p>\n
You can watch Every’s chat with host of The Business Kirsten Aiken here:<\/p>\n
Loading…1h agoWed 10 Sep 2025 at 10:02pmUS investors react to unexpected fall in inflation data<\/p>\n
US producer prices unexpectedly fell in August, suggesting some firms are absorbing import tariffs rather than passing them on to customers.<\/p>\n
Wall Street investors reacted to a surprise dip in the Producer Price Index for final demand, which fell 0.1% last month after a 0.7% jump in July.<\/p>\n
Economists polled by Reuters had forecast the PPI would advance 0.3% after a previously reported\u00a00.9% surge in July.<\/p>\n
The Producer Price Index or PPI is a measure of inflation and gauge of what businesses receive for the goods and services they sell, before prices reach consumers.<\/p>\n
A 0.2% drop in services prices accounted for the fall in the PPI, following a 0.7% rebound in July. Services were held down by a 1.7% decline in margins for trade services, reflecting a 3.9% decrease in margins for machinery and vehicle wholesaling.<\/p>\n
“Inflation barely has a heartbeat at the producer level which shows the tariff effect is not boosting across-the-board price pressures yet,” said Christopher Rupkey, chief economist at FWDBONDS.<\/p>\n
“As time goes on, one has to wonder if there are slow-growth reasons and weak economic demand that is keeping inflation in check.<\/p>\n
“There is almost nothing to stop an interest rate cut from coming now.”<\/p>\n
However, the lack of heat in producer prices may also point to softer domestic demand against a struggling labour market.<\/p>\n
1h agoWed 10 Sep 2025 at 10:00pmHousehold spending ticked higher last month: CBA<\/p>\n
The Commonwealth Bank’s latest data shows a sixth-straight month of growth in household spending.<\/p>\n
CBA’s Household Spending Insights (HSI) Index rose 0.3% in August.<\/p>\n
The bank’s head of Australian economics Belinda Allen\u00a0says it reinforces her view “that a consumer recovery is underway after a series of false starts last year and early into 2025”.<\/p>\n
“The combination of growing incomes, a solid labour market and lower interest rates is helping improve household sentiment as consumers are able to both spend and save again,” Ms Allen said.<\/p>\n
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Where consumer spending picked up in August (CommBank)<\/p>\n
On an annual basis, household spending is now up 5%, the report noted.<\/p>\n
“Utilities was the top spending category in August, that uptick is largely driven by general volatility in energy bill payments, as well as the timing of energy price rebates,” Ms Allen said.<\/p>\n
“More interesting is the strong increase in spending on Communications and Digital, which reflects the longer-running, structural shift in consumers favouring spending on experiences rather than goods.”<\/p>\n
It turns out, the wet weather may have had an effect on what people were spending on last month.<\/p>\n
“In particular, August’s spending increase is propelled by the surging popularity of online services like gaming and streaming, as well as the impact of weather,” Ms Allen said.<\/p>\n
“The wettest August in 27 years in Sydney likely had a hand in higher spending on food delivery services and lower spending in cafes during the month.”<\/p>\n
It’s bucketing down here in Sydney this morning, so maybe September will see a similar trend? Although let’s hope this is a short-term blip in spring\u2026<\/p>\n
Loading2h agoWed 10 Sep 2025 at 9:43pmHome-buying dream pushed further away by RBA rate cuts<\/p>\n
While interest rate cuts have been cheered by Australians with a mortgage, they haven’t helped those trying to save for a home.<\/p>\n
ABC business reporter Emily Stewart takes a look at why.<\/p>\n
Loading…2h agoWed 10 Sep 2025 at 9:18pmOracle soars, US AI stocks rally<\/p>\n
The S&P 500 and Nasdaq notched record-high closes on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the US Federal Reserve will cut interest rates next week.<\/p>\n
The S&P 500 climbed 0.3% to end the session at 6,532 points, closing with a record high for the second straight day.<\/p>\n
The Nasdaq gained 0.03% to 21,886 points for its third consecutive record-high close. The Dow Jones Industrial Average declined 0.5% to 45,490 points.<\/p>\n
Oracle\u00a0soared 36% in its biggest one-day percentage gain since 1992 after the tech company pointed to a demand surge from AI firms for its cloud services.<\/p>\n
Its stock market value reached $922 billion, leapfrogging the values of Eli Lilly, JPMorgan Chase\u00a0and Walmart, and approaching Tesla’s $1.12 trillion market value.<\/p>\n
Artificial intelligence-related chip stocks also rallied, with Nvidia\u00a0up 3.8%, Broadcom\u00a0jumping 10% and Advanced Micro Devices\u00a0climbing 2.4%.<\/p>\n
Data centre power suppliers also benefited, with Constellation Energy, Vistra and GE Vernova\u00a0all rising more than 6%.<\/p>\n
Apple, viewed by many investors as lagging in the race to dominate AI, declined 3.2%, sliding for a fourth straight session. <\/p>\n
A cooler-than-expected producer prices reading provided additional momentum as traders shored up their bets on interest-rate cuts this year. <\/p>\n
Traders fully expect the Fed to cut interest rates by at least 25 basis points at its policy meeting next week, with a 10% chance the central bank could cut by 50 basis points, CME’s FedWatch tool showed.<\/p>\n
– with Reuters<\/p>\n
3h agoWed 10 Sep 2025 at 8:39pm<\/p>\n
Good morning<\/p>\n
Welcome to the ABC News business blog for Thursday September 11.<\/p>\n
The local share market is set to drop when trading resumes at 10am AEST.<\/p>\n
Yesterday, the ASX closed 0.3% higher at 8,330, as bank stock gained.<\/p>\n
Overnight, it was mixed trading on Wall Street. The benchmark S&P 500 closed at record highs, while the Nasdaq gained about half a dozen points. The Dow Jones Industrial fell by half a per cent.<\/p>\n
We’ll bring you more on market movements shortly.<\/p>\n","protected":false},"excerpt":{"rendered":"3h agoWed 10 Sep 2025 at 8:47pmMarket snapsotASX futures: -0.3% at 8,805 pointsAustralian dollar: +0.5% at 66.15 US…\n","protected":false},"author":2,"featured_media":2528,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[3053,3055,3059,72,3057,61,60,3061,3060,123,3058,3054,3056],"class_list":{"0":"post-13221","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-asx","9":"tag-australian-dollar","10":"tag-bitcoin","11":"tag-business","12":"tag-dow-jones","13":"tag-ie","14":"tag-ireland","15":"tag-live-blog","16":"tag-live-update","17":"tag-markets","18":"tag-nyse","19":"tag-share-market","20":"tag-wall-street"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/13221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=13221"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/13221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/2528"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=13221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=13221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=13221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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ASX futures: -0.3% at 8,805 points![\"Stephanie](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/09\/lcimg-38467754-a5e6-4c2e-97bd-ca15b178ac9c.jpeg\")
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