Updated Jul 21, 2026 – 4.47am, first published at 4.19amGo to latestPinned post – 4.41AMBefore the Bell: ASX to fall, Iren surges 20pcTimothy MooreAustralian shares are set to open lower, tracking weakness on the Dow as energy and tech stocks helped the S&P 500 start Wall Street’s trading week in the green.ASX 200 futures were down 24 points or 0.3 per cent to 8729 near 4am AEST. The S&P 500 was 0.2 per cent higher, though just three of its 11 industry sectors advanced.Energy, information tech and communications services each were up about 1 per cent near 2pm in New York.Oil reached for $US89 a barrel as tensions between the US and Iran persisted with President Donald Trump threatening a harsh response for the deaths of American soldiers. “Every time Iran kills an American Soldier they will pay for that killing many times over!,” the president said in a social media post.Shares of Google owner Alphabet gained on a report that the company is developing a server chip designed to optimise its Gemini artificial intelligence model, Bloomberg reported.Iren surged 20 per cent after reporting the signing of new contracts and the lifting of a key revenue metric.Market highlightsASX 200 futures are pointing down 24 points or 0.3 per cent to 8729.All US prices near 2pm New York time.AUD +0.3% to US70.05¢Bitcoin +1.8% to $US65,568On Wall St: Dow -0.3% S&P +0.2% Nasdaq +0.5%VIX -0.62 to 18.15Gold -0.3% to $US4004.00 an ounceBrent oil +1% to $US88.95 a barrelIron ore -0.9% to $US99.35 a tonne10-year yield: US 4.60% Australia 4.96%Today’s agendaNew Zealand is set to report second-quarter CPI at 8.45am AEST.BNZ said it is forecasting 1.5 per cent quarter-over-quarter and 4.1 per cent year-over-year for Q2 CPI. This represents a large lift in annual inflation from Q1’s 3.1 per cent.“The RBNZ updated its near-term inflation forecast in its July MPR and is expecting CPI inflation of 3.9 per cent yoy in Q2. Sharply higher fuel prices are expected to be a feature in the quarter, as are another firm lift in household energy costs. Much higher transport costs are forecast to drive a substantial jump in annual tradeables inflation.“BNZ’s forecasts suggest the balance of core annual inflation measures are likely to remain above the midpoint of the RBNZ’s target range, albeit with a likely flavour of flat-to-a-touch-lower.”Top storiesHanson’s bid to reroute rivers and build rail, dams costs $125b | Pauline Hanson has backed a slew of major infrastructure projects including a scheme to divert North Queensland’s monsoonal rain into the arid south.Top super funds made double-digit returns. Is yours among them? | Growth super funds have yielded a 44 per cent return over four years. While this golden run shouldn’t be thought of as normal, chances of a US tech bust are low.‘More serious than DeepSeek’: Chinese start-up kills AI euphoria | Fund managers warn that MoonShot’s new AI model could trigger an even bigger sharemarket collapse than the one caused by DeepSeek last year.Downsizer drought weighs on housing supply as Baby Boomers stay put | Politicians have been told that older couples are staying in large family homes long after their children have flown the nest, locking up valuable housing supply.Why next month could be the wildest ASX reporting season yet | Morgan Stanley’s Chris Nicol says August is shaping up to be a turbulent period for investors, as companies start to roll out their earnings results.