DistantNews
Support us
🇦🇺 Australia /Economy & Trade

Live: ASX to fall, SpaceX eyes mega IPO

From ABC Australia · () English

Summarized and contextualized by DistantNews.

At a glance

News Sources not specified Ongoing story
  • The ASX is expected to fall as Wall Street pulled back from record highs due to renewed fears of an Iran war impacting risk appetite, while oil prices climbed.
  • SpaceX has set an IPO price of $US135 per share, potentially marking the largest float in history.
  • Locally, RBA governor Michele Bullock will appear before Senate estimates, and fresh trade data will be released.

Australian markets are bracing for a weaker start, mirroring a pullback on Wall Street. Global investors grew cautious as renewed Middle East tensions, particularly concerning Iran, dampened risk appetite and sent oil prices higher. The Dow Jones, S&P 500, and Nasdaq all experienced declines.

Amidst the broader market jitters, SpaceX is capturing significant attention with its planned Initial Public Offering (IPO). The company has set a share price of $US135, positioning this float to potentially be the largest in history, a development keenly watched by the financial world.

Domestically, the Reserve Bank of Australia (RBA) governor, Michele Bullock, is scheduled to address Senate estimates today. Accompanied by assistant governor Christopher Kent, Bullock's remarks will be scrutinized for insights into monetary policy and economic outlook. Deputy governor Andrew Hauser is also slated to speak tomorrow.

Further economic indicators will be released later this morning, with fresh trade data due at 11:30 am AEST. This data will provide markets with an updated perspective on the demand for Australia's key exports, offering another layer of information for traders and analysts.

DistantNews Editorial

Originally published by ABC Australia. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog