Joshua Barker appeared on Ausbiz this morning as part of The Open, sharing his perspective on the latest local and global market developments.
If you missed it, here is a summary of what he covered. You can also watch the full segment below.
The ASX is Set to Ease Despite a Strong Night Overseas
It might seem counterintuitive, but the local market is expected to open slightly lower this morning, with ASX futures down 0.1%, even as global markets hit fresh record highs overnight.
Wall Street had a strong session. The S&P 500 and Nasdaq both extended their record closing highs, buoyed by growing optimism that the Middle East conflict may be nearing a resolution. A ceasefire between Israel and Lebanon boosted sentiment, and President Trump indicated the US and Iran could meet again this weekend.
The Nasdaq has now risen for 12 consecutive sessions, its longest winning streak in 17 years. That is a remarkable run by any measure.
Oil Prices Are on the Move
The ceasefire news sent oil prices higher overnight. Energy markets tend to be sensitive to Middle East developments, so this is worth keeping an eye on, particularly for investors with exposure to energy stocks or global infrastructure.
Not All Good News: Netflix Took a Hit
On the corporate front, Netflix fell 8% in after-hours trading. The streaming giant’s quarterly results disappointed investors, and news that co-founder Reed Hastings is leaving the company added to the uncertainty. A reminder that even the biggest names can have a rough patch.
What the Economic Data Is Telling Us
A few key numbers from overnight:
- US jobless claims came in broadly in line with expectations, suggesting the labour market remains steady.
- US industrial production fell 0.5% in March, a larger drop than anticipated and something worth watching as a potential sign of softening activity.
- UK GDP grew 0.5% in February, the strongest monthly result in two years and an encouraging sign for the British economy.
US markets will be closed on Friday for a public holiday, so today’s session may be quieter than usual.
What’s on the Local Calendar
Closer to home, quarterly updates are expected from Alcoa and Zip. There is also a notable deal to be aware of: private equity firm Axight has agreed to acquire a minority stake in La Trobe Financial from Brookfield’s private equity arm, in a transaction valuing the non-bank lender at $3 billion.
There Is a Lot Moving at the Moment
Markets are rarely quiet for long. There is always something to consider, whether it is a geopolitical development, a corporate earnings result or an economic data release.
What matters is having a clear strategy and not letting short-term noise drive long-term decisions. If any of this has you thinking about your own financial position, we would be happy to have a conversation.
👉 Get in touch with the Barker Wealth team
General Advice Warning
This article is prepared by Barker Wealth Pty Ltd (AFSL 418376) and is for general information purposes only. It does not take into account your personal objectives, financial situation, or needs and therefore should not be considered personal financial advice. Before making any investment decision you should consider whether the information is appropriate for your circumstances and seek professional advice where necessary. Past performance is not a reliable indicator of future performance.