Rio Tinto half-year results due as ASX futures point to 9,000 open

The ASX 200 is on track to open above 9,000 points for the first time, with futures pointing to a 0.9% gain at Wednesday's bell. The catalyst is a dovish turn from RBA Governor Michele Bullock, who told an Anika Foundation audience in Sydney that housing and labour are both softening. Traders read her remarks as a signal that the hiking cycle has peaked.

Rio Tinto (ASX:RIO) reports half-year results this morning, and the mining blue-chip's numbers will set the tone for the session. A miss would crack the rally; a beat would lock in the 9,000 milestone. Rio's stock page carries an Alpha Score of 62/100, labeled Moderate – the data points to a balanced risk-reward heading into the print.

Atlas Arteria (ASX:ALX), Mineral Resources (ASX:MIN), Northern Star (ASX:NST), and Nickel Industries (ASX:NIC) are also due to update the market today.

U.S. markets closed higher overnight, adding tailwind. The Federal Reserve's rate decision lands this week, and the consensus expects no change. Locally, June CPI data drops at 11:30 a.m. AEDT – a hot number would complicate Bullock's dovish message, while a soft print would reinforce it.

In commodities, Brent crude continued its fade to $86.06 a barrel. Iron ore slipped 0.1% to $97.70 a tonne in Singapore. U.S. natural gas futures sat at $2.62 per gigajoule.

On the currency front, the Australian dollar bought US 69.7 cents.

Among the smaller names, Red Mountain Mining (ASX:RMX) indicated a 10% open after starting systematic exploration at the Pioneer tungsten project in Montana. Great Western (ASX:GTE) halted drilling at its Diorama target near Yerrida North after an air-core search returned no significant copper or gold results.

Morgans upgraded Whitehaven (ASX:WHC) to "buy" ahead of its half-year update.