US Markets
The S&P 500 fell, and interest rates surged on Wednesday after January’s consumer prices came in higher than expected, sparking concerns that inflation could flare up again.
The broad market index edged down 0.27% to close at 6,051.97, while the Dow Jones Industrial Average dropped 225.09 points, or 0.5%, to 44,368.56. The Nasdaq Composite managed a slight 0.03% gain, finishing at 19,649.95.
Commodities
Oil prices fell after former US President Donald Trump said he had spoken with Russia’s Vladimir Putin and that both had agreed to begin negotiations to end Russia’s war in Ukraine. Trump made the announcement in a social media post.
Local Market
Australian share futures edged slightly higher on Thursday as investors awaited a wave of company earnings reports.
ASX futures were up just 4 points, or 0.05%, indicating the index could extend its record close from the previous session. Traders focused on upcoming results from major ASX-listed companies.
The Australian dollar slipped below US63¢, down 0.3%.
Company News
IAG reported a significant jump in half-year profits, a 91.2% increase attributed to strong underlying performance. The insurer’s positive results are a highlight of the ongoing reporting season.
Origin Energy also posted solid results, with a 2% rise in half-year net profit to $1.02 billion and a 30¢ interim dividend announced. These figures reflect the company’s resilience in the current energy market.
Homeco Daily Needs REIT maintained flat funds from operations for the half-year. Despite this, the company remains confident in achieving its full-year guidance.
Chemist Warehouse is set to begin trading on the ASX today following its merger with Sigma Healthcare.
