AUS
NZ
UK
CA
USA
IND
Highlights
ASX gains momentum despite tariff tensions abroad
US markets rebound ahead of earnings and inflation data
European equities weaken as new tariffs weigh on autos
The S&P/ASX 200 Index opened the session higher, driven by gains in financials while miners lagged. The index’s movement reflects resilience amid global macro uncertainty, particularly renewed tariff concerns out of the United States and Europe. A stronger performance from banking stocks is helping to anchor the domestic market in early trade.
Meanwhile, Monday’s session was characterised by mixed sector performance, with Energy, Materials, and Telecommunications lifting the benchmark, even as Industrials, Consumer Discretionary, and Utilities dragged. The local equity market continues to track global developments, particularly policy cues and geopolitical tensions.
DroneShield, Hansen Technologies, and Uranium Stocks Surge
Among notable gainers, DroneShield Ltd (ASX:DRO) climbed after disclosing a scale-up in manufacturing to meet contract obligations. Hansen Technologies Ltd (ASX:HSN) advanced following a positive earnings announcement and a full-year outlook revision.
Uranium-related companies such as Silex Systems Ltd (ASX:SLX) and Deep Yellow Ltd (ASX:DYL) also performed strongly, contributing to broader strength in the energy-related segment. These movements suggest increased activity in defence, software, and clean energy domains, sectors that have shown renewed traction.
Global Macro Focus Shifts to Labour Report and Monetary Policy
Market watchers are now turning attention to domestic labour data set for release later in the week. The Labour Force Report for June will offer insight into employment trends, which could influence sentiment around interest rate direction. At present, market pricing indicates expectations of further easing from the Reserve Bank of Australia, with interest rate movements under close watch.
The evolving macro environment, including labour conditions and inflation, remains a key influence on the trajectory of Australian equities.
Wall Street Edges Up as Earnings Season Takes Centre Stage
Overnight, US equities rallied despite heightened geopolitical rhetoric. Investor focus shifted toward upcoming second-quarter earnings releases from major banks and fresh inflation figures. Earnings season is expected to shape sentiment in the near term, with key metrics including S&P 500 earnings per share growth and inflation readings offering clues on economic momentum.
Central to the market’s attention is the June Consumer Price Index update, which may signal the trajectory for US monetary policy. Interest rate futures currently reflect expectations of easing later in the year, with the Federal Reserve’s next move closely scrutinised.
Europe Struggles as Tariff Measures Cast Shadow
European equity markets were weighed down by news of impending US tariffs on goods from the European Union. The announcement sparked concerns over retaliatory measures, particularly impacting automotive manufacturers.
Stocks such as Volkswagen, BMW, and Mercedes declined on the back of these developments. While broader European indices dipped, the FTSE 100 in London rose modestly, contrasting the continent’s negative tone.
Commodities Mixed as Oil Eases and Iron Ore Ticks Up
Commodity markets posted a mixed session. Oil prices fell after a brief spike faded in response to US sanctions news. Brent and US crude benchmarks slipped amid subdued demand signals and macro uncertainty.
Base metals like copper and aluminium trended lower as a stronger US dollar and economic concerns weighed on prices. On the other hand, iron ore futures edged higher, supported by better-than-expected trade figures from China.
