CORRECTION (2026-07-12): An earlier version of this article included dek/body/key-point claims that SpaceX tumbled 10%+ for a third day on bond-sale news. That material has been removed and adjacent wording lightly adjusted for readability; the substance of the article is otherwise unchanged. Corrected on 2026-07-12.
Australian equities are poised for a positive open as global risk sentiment improves, driven by a pullback in oil prices amid growing hopes for a diplomatic resolution to tensions in the Middle East.
The broader market backdrop is shifting as investors digest a complex mix of macroeconomic data and corporate developments ahead of a pivotal week for monetary policy.
In New York, technology stocks weighed heavily on major indices, dragging down both the S&P 500 and the Nasdaq.
The sharp decline in high-growth technology highlights ongoing investor caution regarding capital structure and liquidity.
Meanwhile, macroeconomic data from Canada revealed inflation has risen to its highest level since 2023, fueled primarily by a spike in petrol prices.