ANZ Research says Australia’s current 4.35% cash rate is already the highest among major Western economies. Interbank futures pricing implies the cash rate could climb to 4.99% by mid2027, above expected peak rates for the US, UK, New Zealand, the eurozone and Canada. The analysis points to a prolonged stretch of elevated borrowing costs for Australian households.

U.S. stocks fell on Monday, led by losses in Nvidia and other chipmakers after executives at major AI companies voiced safety concerns around artificial intelligence development. The benchmark 10-year Treasury yield briefly moved above 5%, adding to investor unease ahead of a Federal Reserve meeting. Persistently high inflation and rising borrowing costs also weighed on sentiment.

Canadian Natural Resources’ stock has gained more than 50% in 2026, supported by a rebound in oil prices after supply disruptions in the Middle East. The company posted record Q2 production of 1.7 million barrels of oil equivalent per day, up 18% from a year earlier, and record adjusted net earnings of $4.6 billion. Its 2026 capital program remains set at $6 billion, while net debt fell to about $14.5 billion, approaching a $13 billion target. The company says it plans to begin returning 100% of free cash flow to shareholders once that target is reached.

U.S. stocks fell on Monday as chipmakers including Nvidia slid after executives at major AI companies called for a slowdown in AI development over safety concerns. The 10-year Treasury yield climbed above 5% for the first time since 2023, adding to jitters ahead of a Federal Reserve policy meeting. Worries about U.S. fiscal health and Middle East energy supply also weighed on sentiment.

Oracle has launched a new round of layoffs, with some employees receiving early-morning notifications, Business Insider reported. The company also said revenue from its cloud infrastructure business rose 121% year over year to $7.4 billion in the first quarter of fiscal 2027. Operating income increased 57% to $6.7 billion, and Oracle said it now expects total revenue of at least $90 billion for the fiscal year. As of May 31, Oracle had about 141,000 employees, down by roughly 21,000 from a year earlier.

Reserve Bank of Australia deputy governor Andrew Hauser said inflation is the economy’s “one big problem,” with markets fully pricing a September cash-rate increase to 4.6%, a 15-year high. Traders are also factoring in what is seen as a near certainty of two more hikes by February. Analysts say current inflation pressures are being driven largely by supply disruptions linked to the U.S.-Iran conflict and a surge in AI spending by major U.S. technology companies. They argue rate rises are poorly suited to addressing those supply-side forces.

Bank of America CEO Brian Moynihan said at a meeting on Monday that the bank’s third-quarter sales and trading revenue will be flat. The remark sparked a selloff in bank stocks.

NextEra Energy and Dominion Energy said they are expanding the Virginia benefits package tied to their proposed merger by extending residential bill credits from $10 per month for two years to $10 per month for four years. The companies also pledged an additional $100 million to expand the EnergyShare assistance program through 2038 and committed $100 million to a workforce development fund. They further announced a five-year Virginia Supplier Program of up to $1 billion per year for local contractors, suppliers and service providers.