ASX 200 futures point to 33-point drop as NAB posts $1.9 billion June-quarter profit
AI Market Summary
Risk appetite is mixed: US equities slipped from record highs after weaker retail spending data raised growth concerns even as it may ease inflation pressure and temper Fed tightening. Oil volatility and a Brent jump on Iran-war shipping uncertainty add a renewed inflation and rates wildcard. In Australia, ASX futures point lower despite NAB's stronger quarterly profit, highlighting macro uncertainty over idiosyncratic earnings strength.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT+0.74%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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National Australia Bank reported an unaudited $1.9 billion profit for the June quarter, up 32% from the average for the March half as the drag from accounting changes eased. CEO Andrew Irvine said higher interest rates, government housing tax changes and fallout from the war in Iran are creating “challenges and uncertainties” for customers, while softer spending could ease inflation pressure. ASX 200 futures signalled a weaker open, tracking an overnight pullback in major US stock indexes on Wall Street.
