The Australian share market traded mostly flat on Tuesday before a late afternoon slump. On Wall Street, the Dow Jones Industrial Average hit a record high with futures pointing to more positive trade ahead. See how the day unfolded on our business and finance blog.Disclaimer: this blog is not intended as investment advice.PinnedTue 30 Jun 2026 at 10:26amTue 30 Jun 2026 at 10:26amMarket snapshotBy David ChauASX 200: -0.5% Australian dollar: -0.2% at 68.76 US centsWall Street: Dow Jones (+0.6%), S&P 500 (+1.2%), Nasdaq Composite (+2.1%)Europe: DAX (-0.2%), FTSE (-0.2%), Stoxx 600 (flat)Spot gold: -0.2% to $US4,008/ounceOil: Brent futures ($US73.15/barrel), WTI futures (-0.6% at $US70.29/barrel)Iron ore: flat at $US100.25/tonneBitcoin: -0.3% at $US60,018Live updates on the major ASX indices:Collapse all postsFilter PostsAll40Key Events21Market snapshot2Airlines1Tue 30 Jun 2026 at 4:19pmTue 30 Jun 2026 at 4:19pmASX takes a last minute dive to close 0.5% lowerBy Emilia TerzonI do believe they call this a mid-afternoon slump.(ASX)After trading close to flat all afternoon, the ASX 200 and the All Ords both dwindled around the 2.30pm AEST mark.That's despite pre-market futures for Wall Street pointing to positive trade there when the US markets open.Here's the ASX 200's top and bottom performers.We'll be back with you tomorrow!Tue 30 Jun 2026 at 3:58pmTue 30 Jun 2026 at 3:58pmSmall businesses urged to sign up to scam text registerBy Emilia TerzonHave you been getting notifications from your telco about this change on text messages coming tomorrow?(Telstra/ABC News)That's because from July 1, new rules come into play about scammer texts and how they're identified.The changes will impact any business, charity or organisation that sents texts to a database. If they are not registered with a telecommunication company, text messages to customers will likely be put in an "unverified" folder.More than 17,000 sender IDs have already been registered.The regulator ACMA has a dedicated website with detailed instructions for registering a text ID. There is no cost to businesses.You can read more about this here.Tue 30 Jun 2026 at 3:40pmTue 30 Jun 2026 at 3:40pmMore on today's REX ruling over misleading disclosureBy Emilia TerzonRex contravened its continuous disclosure obligations and misled the market, the NSW Supreme Court found today.Rex Airlines was sued by corporate watchdog ASIC over allegations the airline misled the market about its financial position and engaged in "misleading and deceptive conduct" and contraventions of continuous disclosure obligations.ASIC also went after the company's former directors. But the court did not find that three former Rex directors, John Sharp AM, Lincoln Pan and Siddharth Khotkar, breached their directors duties.Former executive chair, Lim Kim Hai had previously admitted to all alleged contraventions against him and accepted he should face a pecuniary penalty and disqualification orders for his conduct.The matter will return to court in the future to determine penalties against Mr Lim and declarations against Rex.Tue 30 Jun 2026 at 3:21pmTue 30 Jun 2026 at 3:21pmMore on what stocks are doing on the ASX this afternoonBy Emilia TerzonAmong the major miners, BHP Group and Fortescue are edging down 0.3 to 0.4 percent each, while Rio Tinto is losing more than 1 percent and Mineral Resources is declining almost 3 percent.Oil stocks are mixed. Beach Energy is losing almost 1 percent and Woodside Energy is edging down 0.3 percent, while Origin Energy and Santos are edging up 0.1 to 0.3 percent each.Among tech stocks, Afterpay owner Block is gaining more than 1 percent, Zip is adding almost 2 percent, Appen is edging up 0.5 percent and Xero is up almost 1 percent, while WiseTech Global is edging down 0.2 percent.Among the big four banks, Commonwealth Bank and Westpac are gaining more than 1 percent each, while ANZ Banking and NAB are adding almost 1 percent each.Reporting from Reuters.Key EventTue 30 Jun 2026 at 2:57pmTue 30 Jun 2026 at 2:57pmAirline REX found to have misled the marketBy Stephanie ChalmersThe NSW Supreme Court has found that airline REX misled the market, but the corporate regulator lost its case against three former directors of the company.REX was found to have contravened its continuous disclosure requirements and misled the market with an ASX update on February 28, 2023.In the update to the stock exchange, REX said it was ‘optimistic the group will have positive operating profits for the full FY23’, but on June 20 it announced a profit downgrade and forecast a loss for the financial year — before entering voluntary administration in July 2024.However, three former Rex directors, John Sharp AM, Lincoln Pan and Siddharth Khotkar, were not found to have breached their directors duties.The former executive chair Lim Kim Hai had previously admitted to misleading the market and penalties against him will be determined at a later date.Key EventTue 30 Jun 2026 at 2:47pmTue 30 Jun 2026 at 2:47pmBest and worst performing stocks of the session so farBy Stephanie ChalmersA quick check in on how individual stocks are trading, now well into the afternoon part of the session.Here are the best performers so far:Neuren Pharmaceuticals +7.8%Electro Optic System Holdings +7.5%Iperionx Ltd +5.8%Karoon Energy +5.3%Nickel Industries +4.7%And the worst:Mineral 260 -8.6%Resolute Mining -7%Vault Minerals -6.5%Regis Resources -6.4%Perseus Mining -5.9%It's a second day of strong gains for Neuren this week, after leaping more than 36% yesterday on some positive news from EU regulators.Tue 30 Jun 2026 at 2:27pmTue 30 Jun 2026 at 2:27pmASX still trading flat in mid-afternoon tradeBy Emilia TerzonA smidge has been wiped off the ASX 200 since my last update 90 minutes ago, with the index now 0.05% lower.But that still makes today's trade overall:Seven of the 11 sectors are higher, with materials dragging the market lower.Tue 30 Jun 2026 at 2:01pmTue 30 Jun 2026 at 2:01pmToday's episode of ABC Business DailyBy Emilia TerzonTech titans are spending trillions of dollars as they compete to be crowned winner of the ongoing artificial intelligence race. But this raises a fundamental economic question: is the expenditure actually going to be worth the prize?And will there be anything left over for those who come runner up?Today's episode of ABC Business Daily featuring Carrington Clarke and Ian Verrender delves into the issue. Listen here:Tue 30 Jun 2026 at 1:38pmTue 30 Jun 2026 at 1:38pmAustralian KFC operator trading downBy Emilia TerzonCollins Foods, which operates KFC in Australia, is trading down 2.2% to $8.18 this afternoon, despite results today showing its annual profits climbing.The company posted a net profit attributable of $44.2 million for the full year ended May 3, compared with $8.8 million for the year ended April 27, 2025, according to its results.It's also giving shareholders a 15c dividend.Guess shareholders still don't think that's finger lickin'.Tue 30 Jun 2026 at 1:22pmTue 30 Jun 2026 at 1:22pmJPMorgan thinks RBA's rate hiking is doneBy Emilia TerzonJPMorgan has also cast its eye over the RBA's minutes for its June meeting, which were released today, and has also concluded like Capital Economics that the tone is "hawkish".The firm's notes:Like the Statement, the concluding sentence reminds that a hiking bias remains in place, and the board "will do what it considers necessary… including increasing the cash rate further if required". However:Our forecast remains that the cycle is indeed done, given the trajectory of the data. 2Q CPI is in our view tracking below the May SoMP forecasts and though that may not be the end of cost pass-through, it should mark the period of most intense risk, given that demand and pricing power are fading.The activity data has, on balance, also had a softer tone with 1Q GDP below our forecasts and the unemployment rate drifting higher.Tue 30 Jun 2026 at 12:44pmTue 30 Jun 2026 at 12:44pmASX trading dead flat at lunchtimeBy Emilia TerzonBoth the ASX 200 and the broader All Ords are about 0.03% down as we head towards 1pm.7 of 11 sectors are higher today, with financials keeping the market afloat and materials dragging it down.Tue 30 Jun 2026 at 12:21pmTue 30 Jun 2026 at 12:21pmOne in 2 businesses reporting higher costs in JuneBy Emilia TerzonAlmost half of businesses in Australia were reporting higher costs in the month of June, according to fresh data from the ABS. Here's a breakdown of the survey below.(ABS)As you can see, lots of businesses are reporting higher fuel and delivery costs, but reports eased back in June as both petrol and diesel prices dropped back down to pre-war levels."Data from today's Survey of Business Conditions and Sentiments, shows that while the pressure from fuel prices had eased, there were more businesses that had noted higher costs," Tom Lay, ABS head of business statistics, says."The main reasons behind these higher costs included rising businesses overheads for 65 per cent, staffing related costs for 40 per cent and upcoming finance or debt commitments for 19 per cent of businesses."Tue 30 Jun 2026 at 12:15pmTue 30 Jun 2026 at 12:15pmRBA minutes show board still feeling hawkishBy Emilia TerzonCapital Economics just put out its analysis of the RBA's June meeting minutes, where the board decided to keep the cash rate on hold.Capital notes:The RBA’s messaging shows that it retains a hiking bias.The minutes of the June meeting confirmed that the Board’s decision to leave rates on hold was unanimous.Broadly speaking, however, the minutes revealed that the hold was a hawkish one, with the Board leaving the door open to further cash rate increases.The cash rate is currently at 4.35pc.Tue 30 Jun 2026 at 12:03pmTue 30 Jun 2026 at 12:03pmEY declines to comment on PM banking access chargesBy Emilia TerzonEY is declining to comment, after allegations emerged that two of its employees allegedly accessed the Prime Minister's personal banking information while working for the accounting firm at the Commonwealth Bank.One Ernst and Young employee and another man have been charged.The men, aged 21 and 25, have been charged with a count each of accessing restricted data without authorisation.For more, here's the story by Nicholas McElroy:Key EventTue 30 Jun 2026 at 11:50amTue 30 Jun 2026 at 11:50amTPG Capital boss responds to court orders over Sydney crashBy Adelaide MillerOn behalf of his lawyer Justin Wong, TGP Capital baron Joel Thickins has responded to charges after he pled guilty to two offences involving drink driving earlier this month.His drivers license has been suspended for nine months, and he has been served two fines, totalling more than $1,400.In a statement, Mr Thickins said: "I would like to sincerely apologise to the police, the court and the people impacted by