ASX set to rise, Wall Street boosted by falling oil prices; Canada hits back at US with tariffs

August 26, 2026 — 5:24am

Oil prices are falling again, which is helping to ease worries in the bond market and support stock prices.

The S&P 500 rose 0.2 per cent and edged a bit closer to its all-time high set earlier this month. The Dow Jones Industrial Average was up 107 points, or 0.2 per cent, and the Nasdaq composite was 0.4 per cent higher.

The Australian sharemarket is set to rise, with futures at 5.06am AEST pointing to a rise of 29 points, or 0.3 per cent, at the open. The ASX added 0.7 per cent on Tuesday. Reporting season continues with Nine Entertainment, WiseTech and Woolworths results due out. The Australian dollar was trading at US71.61¢.

Some of the strongest action was in the oil market, where the price for a barrel of Brent crude fell 3.9 per cent to $US87.05 and was heading for a second decline following 13 gains in 14 days. The drop came even though tensions between the United States and Iran seemed to ratchet higher after the Trump administration announced new sanctions to further hurt Iran’s economy.