ASX in calo, Wall Street si ritira mentre il petrolio sale sull'incertezza di Hormuz; risultati CBA in vantaggio

ASX set to slide, Wall Street boosted by AI stocks, inflation report August 13, 2026 Wall Street edged closer to its record high as several artificial intelligence-related stocks posted better-than-expected growth, while a report indicated that inflation in the United States improved slightly in July. The S&P 500 gained 0.3 per cent, marking its first rise since reaching its all-time high on Friday. The Dow Jones Industrial Average declined by less than 0.1 per cent, and the Nasdaq composite rose 0.5 per cent. Companies such as Nvidia and Super Micro Computer led the charge, reflecting ongoing corporate spending on AI infrastructure. Treasury yields decreased following the release of the inflation data. The resurgence in AI stocks followed positive performance metrics, which reinforced investor confidence in their ability to sustain robust growth to justify their recent price surges. Super Micro Computer, a provider of servers and related equipment, saw its shares jump 19.6 per cent after reporting earnings per share for the latest quarter that were 84 per cent higher than anticipated. The company also exceeded expectations with its projections for future profits and revenue. CoreWeave, a firm offering cloud-based AI computing power, rose 19 per cent after delivering better-than-expected quarterly revenue alongside a smaller-than-anticipated loss. Its chief executive, Michael Intrator, noted growing customer demand as large enterprises increasingly adopt AI technologies. CoreWeave provides its clients with access to AI chips manufactured by Nvidia, contributing to a 3 per cent increase in Nvidia’s share price. This movement marked the strongest upward push for the S&P 500. AI stocks have experienced a volatile trajectory, having previously faced pressure due to concerns about their inflated valuations. Investors are seeking evidence that substantial investments in AI are generating sufficient returns in terms of profitability and efficiency to maintain sustained demand for associated hardware and infrastructure. Wall Street also benefited from declining bond yields. Treasury yields dropped after a report revealed that US consumer prices for items such as gasoline and groceries increased by 3.4 per cent compared to the previous year. Although this figure is still undesirable, it represents an improvement from the 3.5 per cent inflation rate recorded in June. The slower pace of inflation might provide the Federal Reserve with greater flexibility in delaying additional interest rate hikes. Higher interest rates would assist in curbing inflation but would simultaneously increase borrowing costs for American households and corporations, potentially slowing economic activity and reducing investment values. Federal Reserve officials remain divided on whether they should have initiated interest rate increases earlier. However, the updated inflation figures prompted traders to reduce their bets on a potential rate hike during the central bank’s next meeting in September. According to data from the CME Group, traders now estimate a 40 per cent probability of a rate increase, down from a 50 per cent chance the previous day. This shift contributed to a decrease in the yield on the 10-year Treasury, which fell to 4.68 per cent from 4.70 per cent late Tuesday. Despite this reduction, the yield remains significantly higher than the 3.97 per cent level observed prior to the conflict with Iran, which caused oil prices to surge and raised concerns about inflation. Oil prices fluctuated throughout the day, with the price of a barrel of Brent crude dropping 0.2 per cent to $88.74. Elevated Treasury yields have driven long-term mortgage rates to their highest levels in over a year. ASX set to slide, Wall Street retreats as oil rises on Hormuz uncertainty; CBA results ahead August 12, 2026 US stocks retreated from their records as oil prices continued to fluctuate amid uncertainty regarding when the war with Iran would allow crude oil to flow freely once again. The S&P 500 declined by 0.4 per cent, moving further away from its all-time high established on Friday. The Dow Jones Industrial Average fell 145 points, or 0.3 per cent, during mid-afternoon trading, and the Nasdaq composite dropped 0.8 per cent. Rising oil prices exerted downward pressure on Wall Street. The Australian sharemarket is expected to decline, with futures indicating a loss of 43 points, or 0.5 per cent, at the opening. The ASX added 0.2 per cent on Tuesday. The Australian dollar was trading at US70.60¢. Commonwealth Bank’s results are the focal point of the current reporting period. The oil market remained volatile, with the price of a barrel of Brent crude temporarily exceeding $90 in the morning before retreating below $87. The most recent price stood at $88.71, representing a 1.1 per cent increase from Monday’s settlement price. These fluctuations have become common since the United States and Israel launched attacks on Iran in late February, resulting in the closure of the Strait of Hormuz and causing a buildup of global oil supplies in the Middle East. Last month alone, Brent crude prices ranged between $72 and $102 per barrel. Increased oil prices exacerbate inflation, pushing the average cost of a gallon of regular gasoline to $4.01, according to AAA. This marks an increase from less than $3.14 a year ago, although it is lower than the nearly $4.09 recorded last week. Wall Street is closely monitoring the release of the latest monthly inflation data on Wednesday. Economists anticipate that inflation will remain high but will have slowed to 3.4 per cent in July, down from 3.5 per cent in June. This outcome could benefit the Federal Reserve, whose members are divided on whether to raise interest rates to control inflation. While higher rates could help curb price increases, they would also slow the broader US economy by increasing borrowing costs for households and businesses, thereby reducing investment values. Traders are currently estimating a 50 per cent chance that the Fed will raise its main interest rate at its next meeting in September, according to data from the CME Group. Such a decision would mark the first rate increase in more than three years and could irritate President Donald Trump, who advocates for lower interest rates. Treasury yields have risen since the war with Iran due to higher oil prices and inflation concerns, leading to the highest long-term mortgage rates in over a year. The 10-year Treasury yield decreased slightly on Tuesday, falling to 4.69 per cent from 4.72 per cent late Monday. Nonetheless, it remains substantially higher than the 3.97 per cent level recorded before the conflict with Iran. On Wall Street, Cardinal Health rose 1.1 per cent after surpassing analysts' expectations with its spring profits. Businesses frequently exceed forecasts, which Wall Street favors as stock prices often align with corporate earnings over the long term. Aramark, a food company and facilities manager, surged 8.9 per cent after posting stronger profit and revenue figures than anticipated for the latest quarter. These gains partially offset a 20.9 per cent decline in On Holding, a Swiss sneaker company that also surpassed analysts' profit forecasts for the latest quarter. However, its projected revenue fell short of expectations, and the company stated it would avoid lowering prices to stimulate additional sales. Intel experienced a 0.3 per cent decline after announcing plans to sell $20 billion worth of its stock at $95 per share, an increase from the $15 billion announced the previous day. Such actions dilute the ownership stakes of existing shareholders. Intel intends to utilize the proceeds from these sales to fund investments.