1h agoTue 30 Sep 2025 at 10:15pmMarket snapshotASX 200 futures: -0.1% to 8,862 pointsAustralian dollar: Flat at 66.13 US centsS&P 500: +0.4% to 6,688 pointsNasdaq: +0.3% to 22,660 pointsFTSE: +0.5% to 9,350 pointsEuroStoxx: +0.5% to 558 pointsSpot gold: Flat at $US3,859/ounceBrent crude: -1.3% to $US67.06/barrelIron ore: +0.1% to $US103.85/tonne
Bitcoin: -0.4% to $US114,174

Prices current around 8:10am AEST.

Live updates on the major ASX indices:

19m agoTue 30 Sep 2025 at 11:39pmAustralian prime minister says any Chinese ban on BHP iron ore ‘disappointing’

While doing a press conference on housing, Prime Minister Anthony Albanese was asked about reports that China’s state-controlled iron ore buyer had issued a directive for steel mills temporarily not to buy from BHP, amid a stalemate in contract negotiations.

“I am concerned about that and what we want to make sure is that markets operate properly,” he responded.

“Of course, we have seen those issues in the past. I want to see Australian iron ore to be able to be exported to China without hindrance. That is important, makes a major contribution to China’s economy but also to Australia’s.”

Mr Albanese went on to say:

“These measures are always disappointing.

“Let’s hope, certainly, that they are very much short-term.

“Sometimes when people are negotiating over price, sometimes these things will occur. I want to see this resolved quickly.”

34m agoTue 30 Sep 2025 at 11:25pmVoting on US government funding bill continues

As Michael reported earlier, we’re mere hours away from a US government shutdown, as the 2pm AEST (midnight local time) deadline looms.

In an update out of Washington DC, Reuters reports that the Republican bill to keep the government funded beyond today, which passed the House of Representatives earlier this month, is currently falling short of the votes needed to pass the Senate.

Voting continues.

Despite this uncertainty, Westpac senior economist Mantas Vanagas notes markets remain relatively calm.

“Despite ongoing risks, US equities finished the quarter on a positive note, with the S&P 500 up 0.4%, extending its rally for a third consecutive day,” he wrote.

Meanwhile the Australian dollar remained higher overnight, around 66 US cents, after yesterday’s Reserve Bank meeting.

“The RBA’s statement and the Governor’s press conference were hawkish,” wrote CBA head of international economics and foreign exchange Joseph Capurso.

“With the RBA’s meeting out of the way, the trend in the USD will determine AUD/USD for the rest of the week, particularly the likely shutdown of parts of the US government.

“The risk is skewed to further modest gains in AUD/USD…”

Mr Capurso noted the US dollar had eased ahead of the potential shutdown.

“The USD will resume its fall today if the political discourse suggests an extended shutdown.

“Government shutdowns are not uncommon in the US: there have been 21 shutdowns in the past five decades.

“The US government was shut down for 35 days in President Trump’s first term. As a consequence, non‑farm payrolls may not be released on Friday.”

41m agoTue 30 Sep 2025 at 11:17pm’No comment’ from BHP on China iron ore ban reports

As promised, we have been chasing more info about these reports of a Chinese ban on BHP iron ore purchases.

A spokesperson from BHP had the following response:

“We do not comment on commercial negotiations.”

This was the report that BHP is declining to comment on:

58m agoTue 30 Sep 2025 at 11:01pm

House prices post strongest monthly gain in nearly 2 years

National dwelling values climbed 0.8 per cent in September — the strongest monthly gain since October 2023 — marking the eighth consecutive rise, according to property research firm Cotality.

Over the September quarter, values rose 2.2 per cent, adding an average of $18,215 to the cost of a home.

The national median home value is now $857,280.

Here’s how areas around the country fared:

1h agoTue 30 Sep 2025 at 10:37pmMore first-time buyers eligible for 5% deposit scheme from today1h agoTue 30 Sep 2025 at 10:03pmHas China temporarily banned iron ore from BHP?

So, we have a report from extremely credible financial news service Bloomberg, re-reported by the also extremely credible Reuters, saying that China’s state iron ore buyer has effectively banned BHP, at least temporarily, over a contract pricing dispute.

“China’s state iron ore buyer has told major steelmakers and traders to temporarily pause purchases of any dollar-denominated seaborne iron ore cargoes from BHP, according to Bloomberg News reports citing people familiar with the matter.”

Reports this morning in the AFR quoting Chinese metals data provider Mysteel have disputed that story, saying no directive has been issued from the government iron ore buyer.

BHP shares fell as much as as 5% in London, before bouncing back somewhat to finish 1.9% down.

You can read the Reuters story from last night below, and we’ll keep you updated as we find out more.

2h agoTue 30 Sep 2025 at 9:48pm90% chance of US government shutdown as 2:00pm deadline looms

The US is hurtling towards another government shutdown, with current funding arrangements due to run out at midnight Washington DC time — that’s 2:00pm AEST.

NAB markets senior economist Taylor Nugent says the betting is firmly against any last-minute deal being done.

“The US remains on track for a government shutdown from midnight tonight [2pm today Sydney time] absent a last minute deal, which would likely delay Friday’s payrolls release,” he writes.

“Senate democratic leader Chuck Schumer said, ‘They want to try to bully us … That’s why we are heading into a shutdown.’ Asked about the prospect of a shutdown, President Trump said ‘nothing is inevitable, but I would say it’s probably likely.’

“Trump also said ‘a lot of good’ could come from a shutdown and ‘we can get rid of a lot of things that we didn’t want and they’d be Democrat things.’

“Polymarket puts the odds of a shutdown at 90%. On tariff watch, Trump set a 10% tariff on softwood timber and lumber imports.”

In the past, US government shutdowns have garnered a lot more attention, including on markets.

But I guess there’s so much going on with the Trump administration’s daily governance by social media that traders are simply going, “meh” … at least so far.

2h agoTue 30 Sep 2025 at 9:37pmUS shares gain despite looming government shutdown, gold jumps

Good morning, and welcome to another interesting day on the markets.

It seems like almost nothing can dent investor appetite for US stocks, even the looming shutdown of large chunks of the government.

Unless President Donald Trump can strike a deal with Congress over the next few hours, parts of the US government will start shutting down from later this afternoon, Australian time.

Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, said the looming shadow of the shutdown wa having some impact on trading.

“Maybe there’s some position-squaring in advance of the prospect of a government shutdown,” he told Reuters.

“Were that to occur, and last beyond Friday, we’ll start to accumulate significant economic data such as the jobs report on Friday that won’t be released.

“That leaves investors a little bit in the shadows with regard to what’s going on on the ground.”

That didn’t seem to bother them too much — all three major indices closed higher, with the S&P 500 up 0.4%, the Nasdaq up 0.3% and the Dow Jones Industrial Average up 0.2%.

The S&P 500 has risen for five straight months, and the Nasdaq six.

Investors are also looking for safe havens, though, with gold punching a fresh record high of $US3,871.45 overnight.

US investors be like:

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