Updated Jul 23, 2026 – 4.36am, first published at 4.35amGo to latestPinned post – 4.30AMBefore the Bell: ASX to riseTimothy MooreAustralian shares are poised to rise. US stocks wavered with results pending from Alphabet, Google’s parent, and Tesla after the closing bell. Oil edged still higher as the US and Iran continued to joust.ASX 200 futures were are pointing up 70 points or 0.8 per cent to 8837 near 4.30am AEST. The S&P 500 was modestly lower near 2.30pm.A rebound in chipmakers lifted the S&P 500 from session lows, with Nvidia climbing 3 per cent, and lifting its market cap back above the $US5 trillion mark. Investors are looking to Alphabet’s results to demonstrate a clear return on its massive investments. Tesla and International Business Machines are also due to report later this morning.The AI euphoria that sent stocks to record highs a month ago has waned, and pressure is building for companies to justify their expenditures. A gauge of the Magnificent Seven giants is lagging the S&P 500 in 2026, a rarity for the group that had led the market higher for most of the past four years.With BloombergMarket highlightsASX 200 futures are pointing up 70 points or 0.8 per cent to 8837.All US prices near 2.25pm New York time.AUD -0.1% to US69.92¢Bitcoin -0.5% to $US65,863On Wall St: Dow +0.1% S&P -0.00% Nasdaq -0.4%VIX -0.13 to 16.92Gold +1.5% to $US4138.47 an ounceBrent oil +3.3% to $US94.02 a barrelIron ore -0.8% to $US97.60 a tonne10-year yield: US 4.65% Australia 4.97%Today’s agendaAustralia’s June jobs report is set for release at 11.30am AEST. Overseas, the European Central Bank is poised to hold rates steady.NAB: “We expect the unemployment rate to be unchanged at 4.4 per cent in June on an employment gain of 15,000, in line with consensus. The last couple of months have reflected volatility, likely driven by Easter timing, but our June forecast would be consistent with a gradually cooling trend.“The underemployment rate was revised higher in April and May. We will also be watching to see if the uptick in broader measure of underutilisation extends. Unemployment over Q2 is tracking above the RBA’s May SoMP forecast of 4.2 per cent.”TD: “We forecast a strong labour report in June with job gains at more than 50,000. This surpasses May’s jobs gains of more than 40,000. A pickup in labour participation rate to 66.8% (last: 66.7%) and robust job growth should drive the unemployment rate lower to 4.3% (last: 4.4%). We believe RBA is still in a wait-and-see mode and the hurdle for a near-term hike is higher as oil prices have eased and economic activity is slowing.”Top storiesAshurst warned KPMG of Lendlease breach ‘risk’ last August | Despite the law firm’s concerns, the accounting giant went on to use its review to claim that allegations made by a former employee could not be substantiated.Economic hardship is ‘not imagined’: PM pledges more assistance | The cost of living will be Labor’s focus between now and the election, the prime minister will pledge during his opening speech at the party conference.This obscure ASX gold miner may have started a dividend revolution | Alkane Resources is offering its first dividend in nearly 60 years – just two months after the budget’s CGT changes. Investors say that is no coincidence.Rogue AI escape heightens fears in Canberra over Chinese models | OpenAI’s latest version hacked a US website, and Chinese counterparts such as Kimi K3 could easily do the same. But Australia will not ban them just yet.Chanticleer: ASIC’s diet rulebook leaves equity analysts out in the cold | Ringing the ASX bell is easy. Keeping buyers on the hook is where research matters.