ASX 200 Rises 0.4% This Week

The ASX 200 rose 54 points, or 0.6%, to close at 9,092 on Friday, halting a two-day losing streak as strength in commercial services, tech, healthcare, and energy minerals lifted sentiment. Traders looked ahead to next week’s key domestic releases in Australia, including Q2 GDP and July trade figures, while in main trading partner China, July PMI readings from both official and private surveys are due. Gains were capped, however, as U.S. stock futures traded mostly lower, with investors cautious ahead of Fed Chair Kevin Warsh’s Jackson Hole speech for signals on the rate path. Locally, concerns lingered that the cash rate may stay higher for longer after hotter-than-expected July inflation, fuelling bets on a hike at the next RBA meeting. Standouts included Xero (5.2%), PLS Group (3.8%), and Wisetech Global (3.1%). The big four banks rallied, while heavyweight BHP added 0.9%. For the week, markets rose 0.4%, marking the first gain in three weeks.

Australian shares rose 32 points, or 0.4%, to 9,070 in early Friday trade, snapping two sessions of losses and tracking Wall Street’s overnight rebound ahead of Fed Chair Kevin Warsh’s debut Jackson Hole speech later today. Investors are keen for signals on the rate path, though Warsh has deliberately avoided offering guidance, stressing the Fed’s commitment to price stability. Locally, household spending climbed more than expected in July, marking a third monthly rise. However, gains were limited by caution ahead of next week's July PMI releases in Australia and top trading partner China, alongside domestic Q2 GDP and July trade data. Tech, commercial services, and healthcare led advances, offset by weakness in industries and retail trade. The four big banks added between 0.4% and 1.0%, while standout movers included Xero Ltd. (8.1%), Pro Medicus (3.8%), and REA Group (2.6%). For the week, the market is on track for a modest 0.2% gain so far, reversing falls in the prior two periods.

The ASX 200 fell 90 points, or 1.0%, to close at 9,038 on Thursday, extending prior losses as concerns mounted that the Reserve Bank of Australia could tighten monetary policy as soon as next month after a hotter-than-expected inflation print. Meanwhile, three of the four major banks now anticipate another hike later this year following three increases already in 2026. Losses were broad, led by retail trade, consumer stocks, non-energy minerals, and financials. Still, sentiment was limited by a surge in U.S. futures after Nvidia's blowout earnings, with Q2 revenue more than doubling and beating forecasts by the widest margin in two years. Locally, household spending rose more than expected in July, up for a third straight month. Heavyweights BHP Group and Rio Tinto slipped 1.5% and 0.5%, respectively. Westfarmers tumbled 4.6% as warnings of squeezed household budgets overshadowed stronger annual profit. In contrast, Qantas Airways jumped 4.8% after issuing upbeat revenue guidance.