ASX 200 Closes Steady

The ASX 200 ended flat at 8,784 on Tuesday after two sessions of gains, as strength in energy minerals, consumer services, and financials was offset by weakness in tech, consumer non-durables, and industrials. Traders digested data showing Australia's business mood fell to a four-month low in September, marking the 7th straight negative reading amid oil volatility as Middle East tensions persisted. Minutes from the RBA’s September meeting signaled further hikes remained possible, with some upside risks flagged in August materialising. Futures tied to the S&P 500 and Nasdaq slipped ahead of bank earnings, Fed officials' remarks, and key inflation reports. The big four banks rallied 1.3%–2.3%, while AGL Energy jumped 4.1% and Ampol Ltd. rose 1.6%. On the downside, heavyweight BHP fell 1.8%, along with Fortescue (-2.9%), South32 (-3.6%), and Pro Medicus (-1.6%). Qantas slid 2.9% after ending its domestic codeshare with Air NZ, with the partnership set to scale back from April 7, 2027.

Australian stocks slipped 21 points, or 0.2%, to 8,762 in early Tuesday trade, snapping a two-session winning streak as weaker U.S. stock futures followed a mixed Wall Street close. Rising crude oil prices heightened inflation concerns ahead of key U.S. CPI data and the start of earnings season. Domestically, investors turned cautious ahead of September business confidence figures due later today and labor market data in the coming days. Attention also turned to China, Australia's key trading partner, with CPI, PPI, and trade data due for further clues on economic momentum. Sectoral losses in non-energy minerals, technology, and consumer durables outweighed gains in energy minerals, financials, and retail trade. Mining heavyweights BHP Group fell 1.6%, while Fortescue dropped 2.1% and South32 slumped 3.3%. Healthcare technology firm Pro Medicus also declined 1.6%. In contrast, three of Australia's four major banks posted modest gains, helping limit the broader market's losses.

The ASX 200 advanced 67 points, or 0.8%, to close at a one-week high of 8,783 on Monday, extending prior gains as stronger U.S. stock futures followed a drop in oil prices. Sentiment improved after President Trump said Russia and Ukraine would not target each other’s energy facilities, while Iran sought talks with Saudi Arabia following Houthi attacks. Australia, meantime, raised its travel advisory for Saudi Arabia to “Do Not Travel.” Gains were led by commercial services, manufacturing, and non-energy minerals, offsetting falls in communications, tech, and industrials. Heavyweights BHP Group and Rio Tinto jumped 2.4% and 1.3%, and the big four banks climbed between 1%–2.3%. Other standouts included Bluescope Steel (3.7%), Sandfire Resources (3.5%), Xero (3.3%), and Seek (2.3%). Investors now await the Reserve Bank’s meeting minutes, alongside September labor market, business confidence, and leading index data. In China, focus turns to CPI, PPI, and trade figures due later this week.