The Australian share market is set to open higher in morning trading as Wall Street rallies.Meanwhile, the price of oil has dropped under $US84 per barrel. 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.PinnedKey EventTue 4 Aug 2026 at 7:22amTue 4 Aug 2026 at 7:22amMarket snapshotBy Adelaide MillerASX 200 Futures: +0.1% to 8,974 pointsAustralian dollar: +0.1% to 70.00 US centsWall Street: S&P 500 +1.5%, Dow +1.3% Nasdaq +1.8%Europe: Dax +1.5%, FTSE -0.1%, Eurostoxx 600 +0.5%Spot gold: +0.3% to $US4,053/ounceOil: Brent Crude -4.8% to $US83.75/barrelIron ore: -2.1% to $US93.90/tonneBitcoin: -0.1% to $US63,687Prices current at around 7:15am AESTCollapse all postsFilter PostsAll4Key Events3Market snapshot1Australians1Key EventTue 4 Aug 2026 at 8:05amTue 4 Aug 2026 at 8:05amPrediction markets 'akin to gambling', corporate regulator warnsBy Adelaide MillerThe corporate watchdog ASIC has issued its strongest warning yet about the risk of offshore prediction markets.Prediction markets are illegal in Australia and consumers are not protected under financial services laws.ASIC's Alan Kirkland has compared prediction markets to gambling, and says if you use the platforms, you are likely to lose."Whatever the legal definition of a prediction market, let's just focus on the substance and in all practical terms, it is akin to gambling," he says.Here is the exclusive report from Myles Houlbrook-Walk:Tue 4 Aug 2026 at 7:50amTue 4 Aug 2026 at 7:50amICYMI: Monday Finance with Alan KohlerBy Adelaide MillerNeed a quick update on Monday's finance news?Alan Kohler can tell you what happened to the price of oil, and why.Catch up below:Key EventTue 4 Aug 2026 at 7:34amTue 4 Aug 2026 at 7:34amASX to open in the greenBy Adelaide MillerGood morning everyone and happy Tuesday,Adelaide Miller here to guide you through the morning on the markets blog, where we cover the latest business, finance and economic stories from across the globe.To begin with, all major exchanges on Wall Street rallied, with the S&P 500 finishing up +1.5%, the Dow Jones finishing up +1.3%, and the Nasdaq finishing up +1.8%.Oil on the other hand is in the red, with Brent Crude down -4.8% to $US83.75/barrel.ASX Futures is pointing to a slightly higher start, up +0.1% to 8,974 points.The Aussie dollar is currently trading at 70 US cents.But for now, grab yourself a coffee and see you back here soon!