Australian shares are set for a modestly lower open. US stocks finished modestly lower as oil rose on renewed tensions in the Middle East, which stoked worries about inflation and the prospect of higher interest rates.
ASX 200 futures were down 4 points or 0.04 per cent to 9190. The S&P 500 was 0.2 per cent lower at the close. Industrials paced eight of the 11 industry sectors lower, with a 0.8 per cent decline. Energy rallied on the spike in oil.
“The evolution of the US labour market, Treasury yields, geopolitical developments, and the continuation of the AI investment cycle are likely to determine whether the major US indices resume their upward trend or enter a deeper correction in the near term,” XS.com analyst Antonio Di Giacomo said in a note.
Source: https://www.afr.com/markets/equity-markets/asx-to-edge-up-us-equities-struggle-to-advance-oil-rises-anew-20260807-p60m7b