Live: ASX set to tumble despite Wall St rallying on Amazon earnings
The ASX is priced for a sharp decline this morning despite Wall Street rallying strongly on Friday. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
The Australian Securities Exchange (ASX) is anticipated to experience a significant decline today, in contrast to the bullish performance on Wall Street driven by Amazon earnings. Amazon shares surged by 15% following a substantial increase in cloud computing revenues. Locally, the ASX is poised for a decline of approximately 1% this morning.
Treasurer Jim Chalmers has written to ACCC chair Gina Cass-Gottlieb to intensify scrutiny of fuel prices as fuel excise rates resume their regular settings, following the conclusion of the Federal Government's last 16 cents per litre fuel tax relief on July 1. The regulator will intensify its monitoring of fuel price fluctuations, with suppliers and retailers who violate the regulations potentially facing multi-million-dollar fines.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
