PinnedMon 24 Aug 2026 at 6:36amMon 24 Aug 2026 at 6:36amMarket snapshotBy Stephen LettsASX 200 futures: +0.5% to 9,028pointsASX 200 (Friday): -0.3% to 9,059 pointsAustralian dollar: +0.4% to 71.68 US centsWall Street (Friday): S&P 500 +0.4%, Dow +1.0%, Nasdaq +0.4%Europe (Friday): Dax +0.6%, FTSE +0.6%, Eurostoxx +0.6%Spot gold: +1.9% to $US4,603/ounceOil: Brent futures +0.6% to $US94.39/barrel, WTI futures +0.3% to $US87.06/barrelIron ore (Friday): +0.5% to $US96.10/tonneCopper (LME): -0.1% to $US14,041/tonneBitcoin: +0.1% to $US77,394Prices current at about 7am AESTKey EventMon 24 Aug 2026 at 8:16amMon 24 Aug 2026 at 8:16amReece profit slips despite stronger salesBy Stephen LettsThe large plumbing supplier Reece Group has posted a slight fall in full-year profit, down 2.8% to $308 million.Sales revenue rose 7% to $9.4 billion while the company edged its full year dividend up marginally to 18.84 cents per share (fully franked).Having disappointed shareholders last year with some bleak commentary, Reece chair and CEO Peter Wislson said 2026 was a year improved momentum in its Australia/New Zealand business.US sales revenue increased by 6.5% despite housing markets remaining soft.Reece Group 2026 FY resultsKey EventMon 24 Aug 2026 at 8:01amMon 24 Aug 2026 at 8:01amLithium miner PLS jumps back to profitabilityBy Stephen LettsLithium miner PLS has reported a full-year profit of $526 million after posting an almost $200 million loss year.Sales revenues jumped 150% to almost $2 billion thanks in large part to a 120% in realised prices over the year.Costs have been kept lower and PLS will pay a full-year dividend of 5 cents per share, having skipped a payment last year.Mon 24 Aug 2026 at 7:53amMon 24 Aug 2026 at 7:53amReporting season: Retail will be the focus of a busy weekBy Stephen LettsWe're heading into the final week of the August reporting season, which while far from disastrous, is likely to see analysts trim their earnings forecasts.Discretionary spending stocks have had a particularly tough time.This week will see another batch of releases that rely on consumers out there and opening their wallets.Wesfarmers, Harvey Norman, Qantas and Domino's Pizza could all produce significant swings in their share prices.Coles is also reporting, but the non-discretionary side of the shopping aisle seems to be holding up well.Mon: Adairs, Ampol, Bendigo & Adelaide Bank, Chorus, Data#3, Endeavour, Monash IVF, NIB, Nuix, PLS, Reece, Ventia ServicesTue: Ansell, ARB, AUB, Coles, G8 Education, Ingenia Communities, Monadelphous, Scentre, Viva Energy, WoodsideWed: Domino's Pizza, DroneShield, Flight Centre, HMC Capital, Lovisa, Netwealth, Nickel Industries, Nine Entertainment, Perseus Mining, Polynovo, Sandfire Resources, Steadfast, Tabcorp, WiseTech Global, Woolworths, WorleyThu: Atlas Arteria, Appen, Articore, Bapcorp, Cromwell Property, Coventry, Karoon, Magellan Financial, Mineral Resources, Perpetual, Qantas, South32, Smartgroup, Star Entertainment, WesfarmersFri: Articore, McMillan Shakespeare, PexaMon 24 Aug 2026 at 7:42amMon 24 Aug 2026 at 7:42amThis week: Australian inflation and consumer spending, central bankers meetBy Stephen LettsAustralia:Tue: RBA minutesWed: CPI inflation (Jul), Construction work done (Q2)Thu: Household spending indicator (Jul) Capex (Q2International:Tue: US — House pricesWed: US — PCE inflation, (Jul), GDP (Q2), Nvidia earnings Q2) Consumer confidence (Aug)Thu: CN — Industrial profits (Jul)Fri: US- Fed chair Kevin Warsh speech at Jackson HoleIt's an interesting week on the data front, with a number of releases loaded with implications for monetary policy settings.Wednesday's July CPI data will be the most keenly watched.There is an expectation that inflation will take another significant step down, dropping from 3.2% to 3.2% as last year's sharp July rise drops out of the calculations.The RBA's preferred trimmed mean CPI measure should also ease down to 3.5%.The ABS household spending indicator (HSI) is expected to show on Thursday that consumers are still out and about despite easing income growth.Forecasts for the July HSI are for 0.3% growth, taking the annual figure to a still solid 5.7% growth.We'll also get the first look at Q2's GDP partials.Construction work done (Wednesday) is expected to be relatively flat, with residential construction expected to cover softer public sector spending.Private sector Capital Spending (Thursday) is also expected to be flat after strong growth in Q1.The RBA minutes from this month's meeting (Tuesday) will tell us what we already know: Rates were left on hold despite ongoing concerns about inflation.The key data in the US will be personal consumption expenditure, the Fed's preferred measure of inflation.Expectations are for a 0.2% rise, which would leave inflation still well above the Fed's level.Fed chair Kevin Warsh will make his debut at the global central banking festival at Jackson Hole in Wyoming.Warsh is not one for forward guidance, but rising bond yields are the focus of attention currently.While global markets will be looking for some clarity about the Fed's plans, they shouldn't expect too much — except for the usual statements about, "We'll bring rates down.""How?" remains the unanswered question.On equity markets, Nvidia's Q2 earnings will be the key event given it is effectively a proxy for the broader AI ecosystem.Key EventMon 24 Aug 2026 at 7:15amMon 24 Aug 2026 at 7:15amASX set to gain as Wall Street's slump is arrestedBy Stephen LettsThe ASX is poised to rise this morning after Wall Street regained some momentum in a jittery week's trading.When futures trading closed on Saturday morning, the ASX 200 was priced to rise about 0.5%, which would claw back a large chunk of the 0.6% it shed last week.The three key Wall Street indices made gains.S&P 500: +0.4%Dow: +1.0%Nasdaq: +0.4%However, over the week, the benchmark S&P 500 fell 1.4%.The tech-centric Nasdaq's rise ended a five-day losing streak.All week, equity market investors had been taking their cues from the direction of US government bond yields as the prospect of higher borrowing costs dampened risk appetite.Nerves were looking increasingly frayed as 30-year Treasury Bond yields hit almost 20-year highs.US Treasury Secretary Scott Bessent attempted to calm markets, saying that the government could further increase its Treasury repurchases after a surprise announcement on Wednesday that it would spend double the expected amount on bond buybacks.Northlight Asset Management chief investment officer Chris Zaccarelli told Reuters that after a seesaw trading week, Friday seemed calmer on Wall Street."In the middle of the week, equity investors were concerned yields could be on a one-way trip higher," Chris Zaccarelli said."With the Treasury Department announcement, investors aren't as worried anymore."So far, the US Treasury's actions have done little to suppress rising interest rates but have done a decent job of undermining the US dollar against most major currencies.The Aussie dollar closed higher last week at 71.74 US cents, its highest weekly close in three months.The US dollar upheaval also saw gold hit a three-month high, climbing above the $US4,600/ounce mark for the first time since May.There was at least a bit of comforting news on the US economic front helping to ease investor worries, with data showing the strongest growth in the US services sector in nearly two years powered a sharp acceleration in overall business activity in August.However, this was offset by a slowing of growth in a manufacturing sector that is being restrained by reduced stock building and supply disruptions from the Iran war.Earlier, UBS Global Wealth Management raised its year-end target for the S&P 500 to 8,100, citing a stronger earnings outlook and robust corporate profit growth.Adding to inflation concerns, however, oil futures settled higher for a sixth straight day, after US President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter supply.Iran shot back with threats of a "devastating" response to any US actions, as disruptions continue to hamper oil shipments through the Strait of Hormuz.Seven commodity ships sailed along the Strait on Thursday, which was only half the previous day's tally, data from ship-tracker Kpler showed.For the week, Brent futures gained 6.4% while US West Texas Intermediate futures rose 5.7%.With ReutersMon 24 Aug 2026 at 6:39amMon 24 Aug 2026 at 6:39amGood morningBy Stephen Letts Good morning and welcome to another day on the ABC markets and finance blog.Stephen Letts from ABC business team here, limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.Wall Street closed the week on a positive note, with the S&P 500 making a solid gain, but not large enough one to erase the 1.4% loss over the week.The ASX looks like also enjoying respite from recent losses.When trading closed on Saturday morning, ASX 200 futures pointed to a 0.5% rise today.It's a busy day ahead, with results expected from the likes of Adairs, Ampol, Bendigo & Adelaide Bank, Chorus, Data#3, Endeavour, Monash IVF, NIB, Nuix, PLS, Reece and Ventia Services.As always, the game's afoot, so let's get blogging.