SPI futures point to a 37-point gain as Brent crude drops 3.6% to $90.97. Monadelphous posts record $2.98B revenue. Wood Mackenzie flags Asia-Pacific LNG shift.
Alpha Score of 49 reflects weak overall profile with strong momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
The ASX is heading for a firmer start Tuesday with SPI futures pointing to a gain of 37 points, lifting the implied open to 9,024. Lower oil prices and a steady flow of positive corporate results are expected to offset the drag from Wall Street.
Wall Street closed with a mixed picture overnight. The S&P 500 slipped 0.2% and the Nasdaq dropped 0.5%, pulled lower by AI-linked and semiconductor names. The Dow Jones held its ground. Traders said the tech weakness reflected fresh unease over trade policy after President Trump threatened to hike Canadian auto tariffs to 50%.
Oil prices finally snapped a two-week winning streak. Brent crude settled at $90.97 a barrel, down 3.63%. Investors locked in gains after the rally pushed prices above $94.50 last week. The pullback eases pressure on transport and energy costs for Australian importers.
Wood Mackenzie analysts said the disruption to energy flows through the Strait of Hormuz could redirect capital to Asia-Pacific LNG projects. Australia, the region's largest LNG exporter, stands to benefit if global buyers seek alternative supply, the research firm said in a note.
On the corporate front, Monadelphous Group (ASX: MND) posted record revenue of $2.98 billion, up 31.5% from the prior period. Cedar Woods Properties (ASX: CWP) reported a record net profit after tax of $65.6 million for the 2026 financial year, up 36% and slightly above its own guidance. Corazon Mining (ASX: CZN) unveiled a maiden exploration target at Two Pools. Galilee Energy (ASX: GLL) sidetracked the Zydeco well to unlock seven oil and gas targets. Yandal Resources (ASX: YRL) confirmed a new high-grade domain at the Arrakis gold discovery.
In currencies, the Australian dollar traded at US$0.714. Iron ore futures in Singapore rose 0.14% to $95.34 a tonne. U.S. natural gas futures fell 1.05% to $2.74 per gigajoule.
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