Live: ASX hits record high for second day running

Live market updates: ASX opens at record high after mixed Wall St session, oil stays below $US80 a barrel

By business reporter Adelaide Miller

• Topic:Stock Market

Posted Thu 6 Aug 2026 at 7:31am

Thu 6 Aug 2026 at 7:31am

, updated Thu 6 Aug 2026 at 10:46am

Thu 6 Aug 2026 at 10:46am

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The Australian share market has opened at a record high after mixed results on Wall Street

Meanwhile, the price of oil remains under $US80 a barrel

Follow the day’s financial news and insights from our specialist business reporters on our live blog

Disclaimer: this blog is not intended as investment advice

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Thu 6 Aug 2026 at 12:15pm

Thu 6 Aug 2026 at 12:15pm

Market snapshot

By Kate Ainsworth

• ASX 200: +0.6% to 9,281 points 
• Australian dollar: steady at 70.59 US cents
• Wall Street: S&P 500 (-0.2%), Dow (+0.5%), Nasdaq Composite (-0.8%)
• Europe: FTSE (+0.1%), Stoxx 600 (+0.04%), DAX (+0.3%)
• Asia:Hang Seng (-1.9%), Kospi (-4.5%), Nikkei (-1.9%)
• Spot gold: +1.2% to $US4,295/ounce
• Oil (Brent crude): +0.7% to $US80.02/barrel
• Iron ore: +0.7% to $US94.50/tonne
• Bitcoin: -0.3% to $US64,592

Prices current as at 12:15pm AEST:

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Thu 6 Aug 2026 at 1:31pm

Thu 6 Aug 2026 at 1:31pm

Can we believe Trump?

By Kate Ainsworth

Does anybody really believe a word that Trump says?

He is obviously desperate to find some way out of his illegal war, and his fantasy “Threats” and “Negotiations” exist only in his foetid imagination

– Stan

Hi Stan,

Without getting into some heavy geopolitical analysis on this wintery Thursday afternoon, I think the financial markets would beg to differ — if their current performances are anything to go by, anyway

Key Event

Thu 6 Aug 2026 at 1:00pm

Thu 6 Aug 2026 at 1:00pm

Local shares still pushing higher despite falls in Asian markets

By Kate Ainsworth

The ASX 200 is still hovering around its latest record-high level, up 0.4% to 9,266 points as of 12:55pm AEST

Commodity prices are keeping the local share market higher, with miners still the top performing sector as we head into the afternoon session

But the same can’t be said in Asian markets — the Hang Seng and Nikkeiare down by more than 1.5% each, while South Korea’s KOSPI has shed more than 4% since the start of the session

As for the best performing individual stocks back home:

• Minerals 260 +12.1%
• Pantoro Gold +11.3%
• Vault Minerals +6.8%
• Ora Banda Mining +6.8%
• Genesis Minerals +6.4%

And the stocks in the red:

• Silex Systems -4.3%
• Block -2.7%
• Beach Energy -2.5%
• Karoon Energy -2.4%
• Superloop -2.2%

Key Event

Thu 6 Aug 2026 at 12:00pm

Thu 6 Aug 2026 at 12:00pm

Miners and US-Iran peace deal hopes drive ASX to record high

By Kate Ainsworth

Hopes of a peace deal between the US and Iran are helping send Australian shares to a record high today

The ASX crossed the threshold in the morning session, but has since pared back slightly to gain 0.6% to 9,284 points as of 11:50am AEST

Overnight, US President Donald Trump said there had been a positive “all-day negotiation” with Iran, which helped keep global oil prices beneath recent highs

That’s not the only thing encouraging markets today though, withAustralian miners jumping by 2.2% — the highest level since June 19

Rio Tinto, Fortescue and BHP are higher, after iron ore futures broke a declining streak yesterday and copper prices hit a three-month high

Gold miners are also higher after the gold price hit its highest level in seven weeks — Evolution Mining and Northern Star Re

Thu 6 Aug 2026 at 11:31am

Thu 6 Aug 2026 at 11:31am

Report finds chronic underpayment of migrant workers

By Alicia Barry

The Migrant Justice Institute has released its latestOff The Books report with some pretty damning findings

It says there are widespread workplace breaches among
temporary visa holdersacross all sectors,
from frontline and contractor roles to professional work

The report draws on the largest survey of temporary
migrant workers in Australia, with almost 10,000
participants

Two thirds of temporary
migrant employees
surveyed were underpaid

One in four were
underpaid by at least
$10 per hour

I spoke to Australia’s Anti-Slavery commissioner, Chris Evans, for The Business about a situation he described as “rife exploitation at work”. 

In its worst forms they show evidence of and elements of modern slavery. A continuum of exploitation from simple underpayment of wages and conditions, that runs right through to coercive control,where the worker can’t leave the work situation.”

Evans says, for workers who feel they are in these situations, there is help

The Fair Work Ombudsman is certainty the first step they have the capacity to talk to people in private

I’ll have the full interview with the commissioner on The Business at 8:44pm on the ABC TV News Channel tonight

Key Event

Thu 6 Aug 2026 at 11:00am

Thu 6 Aug 2026 at 11:00am

Credit default swaps at record highs signal major risk for US big tech

By Adelaide Miller

Wall Street is on a debt binge, putting your superannuation balance at risk of significant losses

The major technology firms, the Magnificent Seven,have loaded up on debtto the tune of over $US600 billion, setting off warning bells

As with any debt, it needs to be repaid eventually

You can read the full piece of analysis by business correspondent David Taylor below:

Key Event

Thu 6 Aug 2026 at 10:38am

Thu 6 Aug 2026 at 10:38am

ASX at record high

By Adelaide Miller

The Australian share market is at a record high for a second consecutive day

In the first half hour of trading, the ASX 200 is up +0.8% to 9,297 points

Here is a look at the morning movement so far:

Key Event

Thu 6 Aug 2026 at 10:25am

Thu 6 Aug 2026 at 10:25am

ASX starts the day in positive territory

By Adelaide Miller

The Aussie share market has begun morning trading up+0.6% to 9,284 points, with an even split among sectors

Basic Materials is up at the top, with Industrials down at the bottom

Of the stocks, 64 are in the red, nine are unchanged, and 127are gaining

Here are the top movers, with Pantoro Gold up +8.6%

Here are the bottom movers, with Beach Energy down -4.5%

The Aussie dollar is trading above 70 US cents

Key Event

Thu 6 Aug 2026 at 10:15am

Thu 6 Aug 2026 at 10:15am

Market snapshot

By Adelaide Miller

• ASX 200: +0.5% to 9,273 points 
• Australian dollar: -0.01% to 70.56 US cents
• Wall Street: S&P 500 (-0.2%), Dow (+0.5%), Nasdaq Composite (-0.8%)
• Europe: FTSE (+0.1%), Stoxx 600 (+0.04%), DAX (+0.3%)
• Spot gold: +0.5% to $US4,265/ounce
• Oil (Brent crude): +0.2% to $US79.31/barrel
• Iron ore: +0.7% to $US94.50/tonne
• Bitcoin: -0.4% to $US64,559

Prices current as at 10:15am AEST:

Key Event

Thu 6 Aug 2026 at 10:02am

Thu 6 Aug 2026 at 10:02am

ASX in the green

By Adelaide Miller

The ASX 200 has begun trading up +0.2% to 9,250 points

More to come

Key Event

Thu 6 Aug 2026 at 9:40am

Thu 6 Aug 2026 at 9:40am

Jetstar says luggage changes align with other budget airlines. But are low-cost carriers still cheaper?

By Adelaide Miller

Jetstar says charging passengers to use overhead lockers brings it in line with many overseas low-cost airlines

From February 2, 2027, passengers on the airline’s lowest fares will only be able to bring one small bagto fit under the seat for free. 

Those wanting to store a cabin bag in the overhead locker will pay from $25 on domestic flights and up to $52 on some international routes

For more info on these changes, you can read this explainer by national tourism reporter Kristy Sexton-McGrathand the Specialist Reporting Team’s Lucy Kent

Key Event

Thu 6 Aug 2026 at 9:20am

Thu 6 Aug 2026 at 9:20am

The Fire Brigade Employees Union argues insurance companies need to step up

By Adelaide Miller

The Fire Brigade Employees Union (FBEU) has responded to calls to scrap the NSW emergency services levy, arguing insurance companies need to step up and play a larger role

On Tuesday, a coalition of industry stakeholders, including the Insurance Council of Australia, called on the NSW government to scrap the insurance taxbefore the March 2027 state election

NSW PremierChris Minns has committed since 2023 to removing the emergency services levy and “replacing it with a simple and transparent levy spread across all properties”

The FBEU represents more than 6,000 professional firefighters in Australia’s largest fire and rescue agency, Fire and Rescue NSW (FRNSW)

FRNSW is responsible for providing fire, rescue, and hazmat services across the state, ensuring a high-quality, reliable, and rapid response

In a submission to parliament, the FBEU welcomes the intent of removing the levy but says the current model is “already failing to deliver the funding and re

“We are yet to see evidence that changing the model will fix these problems and remain concerned it could make them worse.”

In the submission, the FBEU argues insurance companies have a greater role to play

“The insurance industry derive significant benefit from a fully funded emergency services sector and should therefore bear responsibility for ensuring it is adequately re

“That benefit also extends to the NSW community, particularly in rapidly growing areas where population growth continues to outpace essential services

“Reforming the levy without addressing the unequal level of emergency response available to many NSW communities simply shifts the funding mechanism while leaving the real problem untouched

“The insurance sector, which directly benefits from the work of professional firefighters, must continue to pay its fair share towards the emergency services that reduce risk and limit losses.”

Key Event

Thu 6 Aug 2026 at 9:00am

Thu 6 Aug 2026 at 9:00am

Google shakes up AI leadership as DeepMind chief shifts role

By Adelaide Miller

Google parent company Alphabet has announced a leadership overhaulof its AI division, with AI chief Demis Hassabis leaving his main managerial role and several leaders working on its Gemini model, including veteran engineer Jeff Dean, departing the company

The shakeup comes during a pivotal juncture for Google DeepMind:the flagship version of its latest Gemini model remains unreleased despite a planned June launch, sparking investor and industry concerns that Google is falling behind its rivals Anthropic and OpenAI, each of which hired a star Google AI staffer this summer

Shares of Alphabet fell 4% after the news

Hassabis, a Nobel Prize recipient, will take the newly created title of Alphabet’s chief scientist and transition from Google DeepMind CEO to chairman, he said in a memo to staff. He cited the approaching arrival of artificial general intelligence (AGI), an advanced state of AI in which computers, in essence, become as smart as humans, as the impetus for his role change

“[Hassabis] and I have been long discussing a role that allows him to put his full attention on actively shaping the future of AGI,” Alphabet chief Sundar Pichai said in a separate company-wide memo

“It’s work that is vitally important to Alphabet and humanity, and I can’t imagine a better person than Demis to do it.”

Koray Kavukcuoglu, the unit’s chief technology officer, will assume day-to-day responsibilities. He will hold the title of senior vice-president, rather than CEO, of the business unit, in addition to his parallel role as Alphabet’s chief AI architect

Dean, Sanjay Ghemawat, Oriol Vinyals and Quoc Le — some of Google’s most famous and lauded AI and engineering leaders — left the company to launch a start-up called Discovery Loop,which will focus on researching breakthroughs in machine learning, science and engineering. The start-up is structured as a public benefit corporation

Alphabet did not provide any details on what precipitated the moves or their coincident timing

– Reuters

Key Event

Thu 6 Aug 2026 at 8:42am

Thu 6 Aug 2026 at 8:42am

How are small businesses feeling one month into payday super?

By Adelaide Miller

On July 1, payday super changes kicked in, where businesses pay superannuation contributions at the same time as wages, rather than up to every three months

When I reported on this earlier in the year, there were mixed feelings from small businesses about the changes. On the one hand, there was overwhelming support for the legislation to ensure everyone was paid fairly, but concern about what the smaller, extra payments would mean for cash flow

Business management platform MYOB’s payroll data shows how cash flow movements have changed for Australia’s cafes, restaurants and food businesses since the super changes

Here are the main findings:

• The number of businesses paying super each week jumped from 42% in early June to 78% in July.
• Super was paid 3.3 more timesin the first full week of payday super, compared with a typical pre-reform week.
• Wages and super paid in the same week went from 25% before the changes to 70% in July.

Kim Owen-Jones, general manager SME, MYOB, says payday super is “pushing businesses to get much closer to their numbers”

“Payday Super hasn’t changed the amount businesses pay, but it does have a material effect on payment rhythm,” she says

“The businesses that are adapting well are working out exactly when money is coming in, when super and other bills are going out, and making sure they’re not caught short between the two

“For many small businesses, that could mean putting money aside as they make sales, rather than waiting until the payment is due.”

Key Event

Thu 6 Aug 2026 at 8:10am

Thu 6 Aug 2026 at 8:10am

‘A painful lack of catalysts’ on Wall St, according to one analyst

By Adelaide Miller

Wall Street finished Wednesday’s trading day “weighed down by tech stocks”, according to senior financial analyst at capital.com Kyle Rodda

That was after yesterday’s rally to record highs

“There was a painful lack of catalysts for the market to work with, eventually seeing market participants banking a quick profit in the absence of any news to push the market higher,” he says

Oil is hovering at $US80 a barrel, with Brent Crude currently up 0.3% to $US79.63

“For now, market participants are playing the waiting game, with oil prices practically flat for the session amidst the uncertainty,” says Mr Rodda

The “eye-catching moves” on Wall Street were in precious metals

“Both gold and silver rose around 4% each, predominantly sparked by the falling odds of future US rate hikes – the chances of which fell modestly last night following soft private payrolls and services activity data,” he says

“Gold may be the best expression of Chairperson Warsh’s conviction in getting inflation back to target

“Meanwhile, silver is also benefiting from a resurgent AI trade. Similar to what happened in the first quarter, strong US tech earnings are pointing to continued monetisation of artificial intelligence technology by hyperscalers, implying greater need and capacity to spend on AI infrastructure and the inputs required for it, like silver.”

Key Event

Thu 6 Aug 2026 at 7:55am

Thu 6 Aug 2026 at 7:55am

Carnival cruise workers make ‘horrifying’ allegations about conditions

By Adelaide Miller

Workers onCarnival cruise shipshave told ABC News they receive paltry pay and experiencepunishing working conditions

A decades-old exemption to Australian labour laws for cruise ships leaves crew with little protection

My colleague Jasper Wellshas spent months investigating the world’s largest cruise company, uncovering allegations that workers were forced to eat rotten leftovers, faced extreme working hoursand experienced medical neglect

You can read the full piece below

And if you know more, you can contact business reporter Jasper Wells at wells.jasper@proton.me

Key Event

Thu 6 Aug 2026 at 7:40am

Thu 6 Aug 2026 at 7:40am

ICYMI: Wednesday finance with Alan Kohler

By Adelaide Miller

The local share market rose again yesterday for the seventh time in eight days on the back of another powerful gain in New York

Catch up on finance with Alan Kohler:

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Key Event

Thu 6 Aug 2026 at 7:20am

Thu 6 Aug 2026 at 7:20am

Market snapshot

By Adelaide Miller

• ASX 200 Futures: -0.1% to 9,144 points 
• Australian dollar: -0.01% to 70.43 US cents
• Wall Street: S&P 500 (-0.2%), Dow (+0.5%), Nasdaq Composite (-0.8%)
• Europe: FTSE (+0.1%), Stoxx 600 (+0.04%), DAX (+0.3%)
• Spot gold: +4.1% to $US4,244/ounce
• Oil (Brent crude): -0.2% to $US79.24/barrel
• Iron ore: +0.7% to $US94.50/tonne
• Bitcoin: +0.9% to $US65,855

Prices current as at 6:50am AEST:

Key Event

Thu 6 Aug 2026 at 7:20am

Thu 6 Aug 2026 at 7:20am

ASX to open slightly lower

By Adelaide Miller

Good morning everyone and happy Thursday!

Welcome to another day on the finance blog

Business reporter Adelaide Miller here to guide you through the morning, covering the latest business, markets and economics stories from across the globe

To start with, the ASX is set for aslightly lower open, with Futures pointing down 0.1% to 9,144 points

This follows yesterday’s record share market close at 9,227 points

Banking group AMP is set to release its half-year results today, which we will update as they drop

But for now, grab yourself a coffee and see you back here soon!

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