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Quick, actionable insights for investors
Australian Equities
Crispin Murray: What’s driving the ASX this week?
What’s driving Aussie equities this week
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What’s driving Aussie equities this week
This week, Donald Trump began to make good on promises of aggressive pro-US policy, announcing plans for tariffs on Canadian, Mexican and Chinese imports.
How concerned should investors be about the inflationary effect of US tariffs?
Trump’s new US commerce secretary Howard Lutnick acknowledges that tariffs would raise prices, at least temporarily.
The inflationary effects of tariffs (and a sweeping immigration crackdown) were a “concern” for businesses, added Richmond Fed president Tom Barkin.
But Pendal’s Julia Forrest notes that tariffs generally apply to “lower-frequency consumer durables”.
Consumers tend to be less aware of price rises in those product categories compared to the hyper-awareness of supermarket or petrol price rises, Julia says.
“As such, tariffs may end up raising inflation with less impact on the politically important perception of inflation.”
Still, markets continue to pare back expectations of US rate cuts partly because of continuing strength in the US economy.
Julia explains in Pendal’s latest Aussie equities note
Crispin Murray: What’s driving the ASX this week?
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Crispin Murray: What’s driving the ASX this week?
Closing gender pay gaps is good for the economy – and investors
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Closing gender pay gaps is good for the economy – and investors
Closing gender pay gaps could significantly boost Australia’s economy, potentially increasing GDP by 6.2 per cent and creating more than 400,000 new jobs every year.
And for investors, there is substantial evidence that companies with better gender equity tend to perform better financially, says Pendal PM and analyst Elise McKay.
Jim Taylor: What’s driving the ASX this week?
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Jim Taylor: What’s driving the ASX this week?
Crispin Murray: What’s driving the market this week?
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Crispin Murray: What’s driving the market this week?
What’s driving ASX stocks this week?
Here are the main factors driving the ASX this week, according to Pendal portfolio manager PETE DAVIDSON. Reported by investment specialist Chris Adams.
Crispin Murray: What’s driving the market this week?
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Crispin Murray: What’s driving the market this week?
With barely three weeks to go, Donald Trump has gained momentum in average betting odds, moving to a 56% chance of a win versus 43% for Kamala Harris.
It’s his biggest lead since Harris entered the race. How are investors reacting?
“Market volatility has picked up, but the forward curve has this falling back post-election,” note Pendal’s head of equities Crispin Murray.
“To date, this has not impacted equities and is supported by credit spreads staying low.
“The most likely election outcome is a Democrat or Republican presidential win without sweeping both the House and Congress – and hence being constrained in what they can achieve.
“The main difference in market impact relates to bonds, with Trump’s threat of higher tariffs and less immigration potentially leading to higher inflation in late 2025, and therefore to higher yields.
“This may have limited impact on equities as it could be seen to come with higher growth.”
Crispin explains more in his latest weekly note
Elise McKay: What’s driving equities this week?
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Elise McKay: What’s driving equities this week?
Here are the main factors driving the ASX this week, according to Aussie equities analyst and portfolio manager ELISE MCKAY and reported by investment specialist JONATHAN CHOONG.
Read Pendal’s latest weekly equities overview.
Jim Taylor: What’s driving the ASX this week?
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Jim Taylor: What’s driving the ASX this week?
Sondal Bensan: What’s driving the ASX this week?
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Sondal Bensan: What’s driving the ASX this week?
A SOFT LANDING is increasingly accepted as the most likely outcome in the US, with inflation-related data in check and the labour market not showing any material incremental deterioration.
Last week, we went from the market pricing next-to-no chance of a 50-basis-point (bp) cut by the Fed following Wednesday’s CPI data, back to an almost 50% chance of a 50bp cut by week’s end.
This drove equities higher and gold to new highs. The S&P 500 rose 4.06%, the NASDAQ was up 5.98%, and Australia’s S&P/ASX 300 was up 1.48%.
Here’s Sondal Bensan with the main factors driving the ASX this week – read more.
Crispin Murray: What we learned from ASX earnings season
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Crispin Murray: What we learned from ASX earnings season
MARKETS continued trailing back toward their July highs last week, driven by commentary from Federal Reserve Chairman Jay Powell.
Powell expressed confidence that a soft landing is achievable and said that the Fed would focus on keeping the labour market strong as it makes progress towards its inflation target.
The “Fed put” is back in terms of monetary policy, providing important insurance against recession risk.
US bonds rallied and the market is now pricing in a roughly 50% chance of a 50 basis point (bp) rate cut in September.
The US Dollar weakened, which is supportive for risk assets, and crypto rallied, indicating that liquidity is coming back to markets.
The S&P 500 gained 1.47%, while the S&P/ASX 300 finished up 0.90%.
The main check on equities is the fear of September, which is seasonally the weakest month.
Local earnings results remain supportive, albeit with some pockets of weakness which tend to reflect specific industry issues rather than broader economic malaise.
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