The local share market is poised to open about 1.7 per cent higher after Wall Street rallied overnight. Brent crude plunged more than 4 per cent after US President Donald Trump called off scheduled strikes on Iran and signalled the US was close to a deal with Iran. Meanwhile, SpaceX raised a record $US75 billion after pricing 555.56 million shares at $US135 each in its IPO.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.PinnedFri 12 Jun 2026 at 7:54amFri 12 Jun 2026 at 7:54amMarket snapshotBy Lin LinASX futures: +1.7% to 8,794 pointsAustralian dollar: steady at 70.48 US cents Wall Street: Dow Jones (+1.9%), S&P 500 (+1.75%), Nasdaq (+3.3%)Europe: FTSE (+0.5%), Stoxx 600 (+0.5%) Spot gold: +2.43% to $US4,234/ounce Oil (Brent crude): -3.9% at $US89.17/barrel Iron ore: +0.2% to $US101.7/tonne Bitcoin: +2.6% to $US63,468 Prices current around 7:45 am AESTCollapse all postsFilter PostsAll4Key Events1Market snapshot1Banking1Fri 12 Jun 2026 at 8:21amFri 12 Jun 2026 at 8:21amANZ NZ boss Antonia Watson to retire, Ben Kelleher named successorBy Lin LinANZ Bank New Zealand chief executive Antonia Watson will retire at the end of the 2026 financial year.Ms Watson has been with ANZ NZ since 2009 and has led the bank since 2019 and will finish at the end of September.She will be replaced by Ben Kelleher, who is currently ANZ NZ’s chief risk officer. He has also previously run the bank’s personal banking, private banking and strategy teams.ANZ NZ chair Scott St John praised Ms Watson’s leadership through the Covid pandemic, economic shocks, the Commerce Commission’s market study and New Zealand’s banking inquiry.Mr Kelleher’s appointment is subject to regulatory approval.Fri 12 Jun 2026 at 8:07amFri 12 Jun 2026 at 8:07amWhy Elon Musk's SpaceX float matters for your superBy Lin LinMost Australians don’t realise it, but their superannuation may soon be backing Elon Musk’s SpaceX.The company has priced the biggest-ever US initial public offering at $US135 a share, valuing the space, satellite and AI business among the world’s most valuable companies ahead of its Wall Street debut.ABC chief business correspondent Ian Verrender explains why the float matters for everyday investors, and why the surge of money into a handful of giant US technology companies is raising fresh questions about risk.Key EventFri 12 Jun 2026 at 7:02amFri 12 Jun 2026 at 7:02amASX set for a strong start as Trump cancels planned Iran strikes in latest reversalBy Lin LinGood morning, and welcome to the ABC's daily finance and business blog.Lin here to take you through all the news overnight and for the next few hours.The ASX is set for a strong start, with futures pointing to a 1.7 per cent gain. The Australian dollar also strengthened, rising 0.66 per cent against the US dollar to 70.48 US cents.Those sharp market moves were driven by developments overnight in the Middle East.US President Donald Trump said he had called off plans for fresh military strikes on Iran at the last minute, saying negotiations with Tehran appeared to be progressing towards a possible deal.Trump said talks had reached the highest levels of Iran’s leadership and that a potential agreement had broad support from regional powers. Iran’s semi-official Fars news agency reported that Tehran was likely to approve the deal, although no formal response has been given.The comments marked a dramatic shift from earlier in the day, when Trump had warned the US would hit Iran “very hard tonight” and said he wanted, at some point, to target Iran’s key oil export hub at Kharg Island.Wall Street rallied following Trump’s remarks, with all three major indexes finishing higher. The tech-heavy Nasdaq led the gains, jumping 2.5 per cent.US Treasury yields fell as investors pared back expectations of further escalation. The benchmark 10-year Treasury yield dropped 8.7 basis points to 4.45 per cent.Gold also climbed as the US dollar weakened, with spot gold rising 3.35 per cent to $4,209 an ounce.Meanwhile, plenty more news to cover from the European Central Bank's rate hike, to SpaceX's looming debut.In the meantime, grab a coffee, tea, I’ll have more updates for you shortly.