ON
← Back to feed
ASX set to slide, Wall Street retreats as oil rises on Hormuz uncertainty; CBA results ahead
Australia📈 EconomyCenter8/12/2026

ASX set to slide, Wall Street retreats as oil rises on Hormuz uncertainty; CBA results ahead

Global financial markets experienced volatility as concerns over the ongoing conflict with Iran and the potential resumption of oil flows through the Strait of Hormuz continued to weigh on investor sentiment. US stock indices, including the S&P 500, Dow Jones, and Nasdaq, declined slightly, reflecting broader market unease. Oil prices fluctuated significantly, reaching above $90 per barrel before retreating to around $88.71, driven by uncertainty surrounding the reopening of the critical shipping channel. The Australian sharemarket, represented by the ASX, was expected to fall, with traders closely watching Commonwealth Bank's earnings report. Rising oil prices contributed to increased inflationary pressures, pushing the average cost of gasoline in the US to $4.01, prompting anticipation for the upcoming US inflation data release. Market participants remain divided on whether the Federal Reserve will raise interest rates in September, with implications for both economic growth and investment returns.

Wall Street edged closer to its record high after several AI stocks delivered better-than-expected results, while a report indicated that US inflation slowed slightly last month. The S&P 500 gained 0.3 per cent, marking its first rise since hitting an all-time high on Friday. The Dow Jones Industrial Average declined by less than 0.1 per cent, and the Nasdaq composite advanced 0.5 per cent. Companies like Nvidia and Super Micro Computer led the rally, driven by signs that businesses continue to invest heavily in AI infrastructure. Treasury yields eased following the latest inflation data. The Australian sharemarket is set to fall, with futures indicating a potential decline of 19 points or 0.2 per cent at the open. The ASX dropped 0.5 per cent on Wednesday, while the Australian dollar traded at US70.62¢. Strong profit reports from AI-related firms fueled optimism that these stocks can sustain growth and justify their current valuations. Super Micro Computer saw its shares jump 19.6 per cent after reporting earnings per share that were 84 per cent higher than analysts' expectations. The company also issued upbeat guidance for future performance. CoreWeave, which provides cloud-based AI computing services, rose 19 per cent after exceeding revenue targets and posting a smaller loss than anticipated. Its CEO, Michael Intrator, noted increasing customer demand as major corporations adopt AI technologies. Nvidia, a key supplier of AI chips, climbed 3 per cent, contributing significantly to the S&P 500's upward movement. AI stocks have experienced volatility, having surged to record highs before facing pressure due to concerns about overvaluation. Investors are seeking evidence that large-scale AI spending translates into measurable returns in terms of profitability and efficiency. This dynamic continues to drive demand for AI hardware and related infrastructure. The broader market also found support from declining Treasury yields, which followed the release of inflation data showing that US consumers faced a 3.4 per cent increase in living costs compared to the previous year. Although this rate is still higher than desired, it represents a slight improvement from June’s 3.5 per cent inflation rate. The moderation in inflation could provide the Federal Reserve with more flexibility to delay interest rate hikes, which typically aim to curb inflation but risk slowing economic activity by increasing borrowing costs. Federal Reserve officials remain divided on whether to begin raising interest rates sooner. However, the recent inflation data has reduced the likelihood of a rate hike at the next policy meeting in September. Traders now estimate a 40 per cent chance of a rate increase, down from a 50 per cent probability the day before. The 10-year Treasury yield fell to 4.68 per cent from 4.70 per cent late Tuesday, although it remains above its pre-war level of 3.97 per cent. Oil prices fluctuated during the week, with Brent crude settling at $88.74 per barrel, reflecting ongoing uncertainty surrounding the reopening of the Strait of Hormuz. Higher oil prices have contributed to elevated inflation concerns and increased mortgage rates. The ASX is expected to continue its downward trend, with futures suggesting a 0.2 per cent decline at the open. Meanwhile, the US market saw mixed performances, with the S&P 500 gaining 0.3 per cent and the Nasdaq dropping 0.5 per cent. The ongoing geopolitical tensions in the Middle East continue to influence global financial markets, adding to the complexity of investor decision-making.

How this report was made. Objective News wrote this report from 3 source articles, using AI-assisted synthesis under our methodology. It is our own text, not a copy of any single outlet. Read our methodology.

Responsible editor: Matej BašaSpotted an error? Report it

5 reports

The Age logoThe AgeIndependentCenterFactual 85Objective 788/12/2026
ASX set to slide, Wall Street boosted by AI stocks, inflation report

On August 13, 2026, Wall Street saw modest gains as AI stocks like Nvidia and Super Micro Computer outperformed analyst expectations, driven by increased corporate spending on AI infrastructure. The S&P 500 rose 0.3%, while the Nasdaq gained 0.5%. Treasury yields declined following a report showing U.S. inflation remained elevated but slightly improved compared to previous months. Meanwhile, the Australian sharemarket (ASX) was projected to decline, with futures indicating a potential drop of 0.2% at the open. CoreWeave, an AI cloud computing provider, surged 19% after exceeding earnings expectations, highlighting ongoing investor optimism about AI adoption despite recent volatility.

Bias read (Center): The article presents balanced coverage of both U.S. and Australian financial markets without overtly favoring any political ideology. It reports on economic indicators, stock performance, and central bank considerations without taking a clear ideological stance. The framing remains neutral, focusing

Why factuality (85): The article provides factual information based on market performance and company reports, aligning with typical financial news content. It references specific stock movements and economic indicators, though it does not cite a primary source document. The information appears consistent with cross-sou

Why objectivity (78): The tone is generally neutral but leans slightly towards highlighting positive outcomes for AI stocks, which may reflect a bias toward technological innovation. The article presents market data objectively but uses emotionally charged language such as 'reignited' and 'accelerating demand', which cou

ABC News (Australia) logoABC News (Australia)State / PublicCenterFactual 75Objective 808/12/2026
Live: Wall Street edges higher on US inflation data, ASX set to slide

The article reports on recent movements in global financial markets, noting that Wall Street indices like the S&P 500 rose slightly after inflation data met expectations, while Australian shares (ASX) are expected to decline ahead of major earnings announcements. It also highlights IAG's 25% drop in full-year net profit despite increased revenue, attributing the decline to elevated insurance claim payouts. Additionally, the International Energy Agency (IEA) warns of a significant global oil supply shortfall of 1.8 million barrels per day, citing ongoing geopolitical tensions and export disruptions in the Middle East and other regions.

Bias read (Center): The article presents factual economic updates without overt ideological framing. While it discusses geopolitical factors affecting oil supply, it does not take a clear partisan stance. The focus is on market performance and economic indicators rather than advocacy for any particular political agenda

Why factuality (75): This article reports on Wall Street's rise due to AI stocks and inflation data, similar to Article 0. It includes specific stock performances and mentions the Australian market's expected decline. However, it lacks detailed inflation numbers and omits some context present in other sources.

Why objectivity (80): The article presents information in a neutral manner, highlighting both Wall Street gains and the Australian market's challenges. No significant bias or emotional language is detected.

The Sydney Morning Herald logoThe Sydney Morning HeraldIndependentCenterFactual 75Objective 808/12/2026
ASX set to slide, Wall Street boosted by AI stocks, inflation report

The article discusses recent developments in global financial markets, focusing on Wall Street's performance and the Australian stock exchange (ASX). Wall Street saw a slight rise as AI-related stocks, such as Nvidia and Super Micro Computer, performed well due to stronger-than-expected earnings and optimistic outlooks for future growth. This resurgence in AI stocks followed concerns that they had previously become overvalued. Meanwhile, the ASX is expected to decline, with early indicators suggesting a drop of around 0.2%. Inflation data showed a slight decrease compared to previous months, which may influence the Federal Reserve's decisions regarding interest rates.

Bias read (Center): The article focuses on economic indicators and market trends related to AI stocks and inflation, without taking a clear stance or showing bias toward any political ideology. It presents factual information about market movements and economic data without editorializing or emphasizing particular政治观点.

Why factuality (75): The article accurately reports on Wall Street performance, mentioning specific stock indices and companies like Nvidia and Super Micro Computer. It references an inflation report and mentions Treasury yields easing. However, it lacks detailed information on the exact inflation figures or broader eco

Why objectivity (80): The tone is neutral and factual, presenting both Wall Street gains and the Australian market's expected decline. There is no overt bias or emotional language, maintaining a balanced perspective.

The Age logoThe AgeIndependentCenterFactual 70Objective 858/11/2026
ASX set to slide, Wall Street retreats as oil rises on Hormuz uncertainty; CBA results ahead

Global financial markets experienced volatility as concerns over the ongoing conflict with Iran and the potential resumption of oil flows through the Strait of Hormuz continued to impact investor sentiment. US stock indices, including the S&P 500, Dow Jones, and Nasdaq, declined slightly, reflecting broader market unease. Oil prices fluctuated significantly, reaching above $90 per barrel before retreating to around $88.71, driven by uncertainty surrounding the reopening of the strategic waterway. In Australia, the ASX is expected to fall, with traders closely watching Commonwealth Bank's earnings report. Rising oil prices have contributed to increased inflationary pressures, pushing the average price of gasoline in the US to $4.01, prompting anticipation for the upcoming US inflation data release. Market participants are divided on whether the Federal Reserve will raise interest rates in September, with implications for both economic growth and investment returns.

Bias read (Center): The article presents a balanced overview of global financial developments without overtly favoring any particular political ideology. It reports on market reactions to geopolitical tensions and economic indicators without taking a clear stance on policy outcomes or ideological positions. The focus在于

Why factuality (70): This article provides details on oil price fluctuations due to Hormuz uncertainty and mentions the impact on inflation. While it aligns with the cross-source consensus on oil prices and inflation expectations, it cuts off mid-sentence, reducing the completeness of the factual information presented.

Why objectivity (85): The article presents information objectively, focusing on market movements and external factors like oil prices. There is no clear editorializing or emotional language, keeping the tone neutral.

The Sydney Morning Herald logoThe Sydney Morning HeraldIndependentCenterFactual 70Objective 858/11/2026
ASX set to slide, Wall Street retreats as oil rises on Hormuz uncertainty; CBA results ahead

Global financial markets experienced volatility as concerns over the ongoing conflict with Iran and the potential resumption of oil flows through the Strait of Hormuz continued to weigh on investor sentiment. US stock indices, including the S&P 500, Dow Jones, and Nasdaq, declined slightly, reflecting broader market unease. Oil prices fluctuated significantly, reaching above $90 per barrel before retreating to around $88.71, driven by uncertainty surrounding the reopening of the critical shipping channel. The Australian sharemarket, represented by the ASX, was expected to fall, with traders closely watching Commonwealth Bank's earnings report. Rising oil prices contributed to increased inflationary pressures, pushing the average cost of gasoline in the US to $4.01, prompting anticipation for the upcoming US inflation data release. Market participants remain divided on whether the Federal Reserve will raise interest rates in September, with implications for both economic growth and investment returns.

Bias read (Center): The article presents a balanced overview of global financial developments without overtly favoring any particular political ideology. It reports on market reactions to geopolitical tensions and economic indicators without taking a clear stance on policy outcomes or ideological positions. The focus在于

Why factuality (70): Similar to Article 1, this article covers oil price volatility and inflation expectations but also includes a partial sentence. It aligns with the cross-source consensus on market trends and oil prices but lacks complete information on broader economic indicators.

Why objectivity (85): The tone remains neutral, discussing market conditions and external influences without injecting personal opinion or bias. It maintains a balanced approach to reporting.

How each side covered it

The same event, grouped by the political lean of the outlets covering it.

How each side covered it

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Covered around the world

The same event as reported in other countries.

Covered around the world

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Claims check

Key factual claims, and how many sources assert vs dispute each.

Claims check

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Keep the news honest.

ObjectiveNews is reader-funded and ad-free — we show you the bias instead of hiding it. Support independent journalism for €4/month.

Become a Supporter

Related stories