The ASX is set to open lower, with futures pointing to a 0.5 per cent decline.
That is despite US shares rebounding after the previous session's sell-off, led by technology stocks.
Meanwhile, Big 4 consulting firm KPMG is facing a public reckoning today, with a parliamentary hearing set to examine allegations it used confidential client information to secure new business.
Follow the day's financial news and insights from our specialist business reporters on our live blog.
Disclaimer: this blog is not intended as investment advice.
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Key Event
Fri 19 Jun 2026 at 7:39am
Fri 19 Jun 2026 at 7:39am
Market Snapshot
By Lin Lin
ASX 200 Futures: -0.6% to 8,555 points
Australian dollar : +0.06% at 70.14 US cents
Wall Street : Nasdaq (+1.9%) to 26,517, Dow Jones (+0.14%) to 51,565, S&P 500 (+1.1%) to 7500
Europe : FTSE 10,399 (-1.04%)
Spot gold: -1.15% to $US4,208/ounce
Oil : -0.4% to $US79.20/barrel
Iron ore : steady at $US99.20/tonne
Bitcoin : -0.2% to $US62,909
Prices current as at 7.30am AEST.
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Fri 19 Jun 2026 at 8:28am
Fri 19 Jun 2026 at 8:28am
ASX futures lower but Wall Street rebounds
By Lin Lin
Is it possible to offer some sort of explanation or comment as to why the ASX would point to a reduction on the opening when overseas influences point to an increase in the ASX.
Futures traders seem to see something that others may not.
- Colin
Good morning Colin, thanks for the question.
My take is that the US rally wasn't as broad-based as the headline numbers might suggest. The Dow, which is made up of a wider mix of industrial and consumer companies, was only modestly higher, while the bigger gains came from the tech-heavy Nasdaq and, to a lesser extent, the S&P 500.
The ASX simply doesn't have the same exposure to those large technology/chipmaker names that drove Wall Street higher.
Instead, Australia's market is much more heavily weighted towards banks, miners and energy companies.
With commodities such as oil and gold softer, and no equivalent tech sector to drive gains, that might be one contributing factor as to why ASX futures are pointing lower this morning.
Fri 19 Jun 2026 at 8:15am
Fri 19 Jun 2026 at 8:15am
IPO hype can fade fast: Morningstar
By Lin Lin
Morningstar's market strategist Lochlan Halloway said in his note that the buzz around SpaceX ’s market debut has echoes of Guzman y Gomez in 2024, perhaps the highest-profile IPO on Australian shores in recent memory.
The Mexican fast-food chain surged after listing in 2024, but the share price has since fallen sharply from its highs, as sales momentum slowed and investors reassessed its growth story.
He noted that the lesson is that a successful IPO does not always make a good long-term investment .
The Guzman float had all the ingredients to make it pop: a compelling founder with skin in the game, scarcity, retail excitement, and evidence of growth. SpaceX had all this too, and enjoyed a similarly stellar start to life as a listed company.
But what makes a successful IPO does not necessarily make a good long-term investment.
His analysis of 650 Australian IPOs over the past decade found newly listed companies often enjoy strong first-day gains, but that enthusiasm can fade quickly. By six months after listing, the median IPO was down almost 20 per cent from its offer price.
When it comes to SpaceX, they are focused on valuation based on the fundamental analysis of the business, rather than some function of momentum, liquidity or sentiment.
We think the stock is worth US$63, and if we’re right, then at today’s price of roughly US$200, your money is better invested elsewhere. And looking through our numbers, I’d hardly call us “pessimistic” on SpaceX’s prospects. Maybe we don’t value it as richly as Elon and the market, but our fair value estimate still implies a forward price-to-revenue multiple of 30 times. Price-to- revenue !
Fri 19 Jun 2026 at 8:12am
Fri 19 Jun 2026 at 8:12am
'Accountants being held accountatable'
By Jason Dasey
Who ever said the life of an accountant was a boring one, only about numbers?
The Senate hearing into explosive allegations against KPMG Australia certainly blows that premise out of the water.
The ABC's Chief Business Correspondent Ian Verrender references Monty Python as he digs deeper into the claims against one of the Big Four consultancy firms.
Read more here, ahead of today's Senate hearing, which is due to begin very soon:
Key Event
Fri 19 Jun 2026 at 8:05am
Fri 19 Jun 2026 at 8:05am
Defiant KPMG ahead of Senate hearing
By Jason Dasey
The Senate hearing into allegations that KPMG Australia misused confidential client information will begin in a few minutes time, but already there's been a dramatic development.
Ahead of the hearing, KPMG has decided not to comply with a parliamentary committee order to hand over documents related to its data misuse allegations.
"We appreciate that this is not the response t…
Read the full article at ABC News (Australia) →
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