- ASX 200 (-0.4%) gives up early gains as hotter-than-expected inflation puts another RBA hike back in play
- Tech has a stinker as WiseTech slides, while Woolies and Sandfire provide some reporting-season cheer
- Oil tumbles 6% as Hormuz fears ease, while copper keeps knocking on record territory
The ASX was cruising towards a decent Wednesday. Then inflation happened.
The benchmark had been up around 0.6% early, but July CPI came in a touch hotter than expected and suddenly every party pooper with access to the internet was talking about another RBA hike again.
Headline inflation eased to 3.5%, but trimmed mean inflation held at 3.6% and rose 0.5% for the month. Deutsche Bank promptly shifted to a September hike call, while ANZ and UBS have November pencilled in for another one.
So, yeah. That was helpful.
Here’s what else caught our eye today…
- Brent crude was spanked, falling around 6% below US$87/bbl after Iran and Oman discussed a plan to get shipping moving again through the Strait of Hormuz. One less apocalypse scenario for oil traders to price in;
- copper kept charging towards record territory around US$6.85/lb. At this point, the red metal is starting to look like it’s had a few;
- iron ore climbed to a four-week high near US$98/t as Chinese steel prices firmed and stimulus hopes did the rounds again. China stimulus rumours: yeeeahhh… pretty much the market’s longest-running soap opera;
- the Aussie dollar jumped towards US72c after the inflation print. Holidaymakers rejoice; mortgage holders… not so much;
- Nvidia finally snapped a seven-session losing streak ahead of tonight’s result, which Wall Street will watch with all the emotional stability of parents at a Year 12 results ceremony;
- OpenAI says its Jalapeno chip beat Nvidia’s GB300 in testing for speed and efficiency. A spicy little appetiser before Nvidia serves up its numbers tonight; and…
- US inflation lands tonight before Fed chair Kevin Warsh takes the Jackson Hole stage on Friday. So nobody get comfortable just yet.
Por si no estais suficientemente entretenidos, el Viernes es Jackson Hole pic.twitter.com/9QCcFhQnAL
— Pablo Campos (@BullishBecker) August 24, 2026
Movers and Shakeouts
Tech had a stinker, tumbling 3.21% as WiseTech Global’s (ASX:WTC) result went down like a cup of cold sick. The broader All Tech Index shed 1.87%.
Energy was next in the firing line, down 1.70% after oil’s overnight plunge, while telcos lost 1.34% and healthcare fell 1.05%.
At the other end, staples jumped 1.99%, largely thanks to Woolworths (ASX:WOW), which rallied after its result beat expectations.
Utilities added 0.78%, while materials just kept its nose above water with a 0.11% gain. Sandfire Resources (ASX:SFR) was a standout there, jumping around 7% to record highs after its FY26 numbers landed nicely.
Goldies were doing their own thing, with the All Ords Gold Index up another 0.93%.
The Small Ords slipped 0.18%, slightly better than the ASX 200’s 0.33% fall.
For more earnings season highlights, by the way, roll on over to Eddy’s Lunch Wrap.
ASX Leaders
Today’s best-performing stocks (including small caps) intraday:
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ARV | Artemis Resources | 0.004 | 33% | 9049727 | $17,334,195 |
| SPX | Spenda Limited | 0.004 | 33% | 3062500 | $3,624,453 |
| SRJ | SRJ Technologies | 0.009 | 29% | 18017443 | $12,062,522 |
| NTI | Neurotech Intl | 0.015 | 25% | 10401345 | $19,392,840 |
| ZEU | Zeus Resources Ltd | 0.005 | 25% | 1182761 | $3,300,209 |
| OMG | OMG Group Limited | 0.008 | 23% | 1631657 | $6,150,917 |
| RVT | Richmond Vanadium | 0.135 | 23% | 454935 | $24,234,661 |
| CNJ | Conico Ltd | 0.011 | 22% | 1315849 | $5,867,883 |
| EV1 | Evolutionenergy | 0.011 | 22% | 5220244 | $7,350,553 |
| TMS | Tennant Minerals Ltd | 0.011 | 22% | 12608742 | $13,469,937 |
| TOR | Torque Met | 0.265 | 20% | 8739248 | $137,484,270 |
| AUR | Auris Minerals Ltd | 0.018 | 20% | 776276 | $19,299,389 |
| TIO | Temasresourcescorp. | 0.12 | 20% | 196240 | $5,587,198 |
| AYT | Austin Metals Ltd | 0.003 | 20% | 1500000 | $5,480,478 |
| BPH | BPH Energy Ltd | 0.003 | 20% | 540000 | $3,384,622 |
| COY | Coppermoly Limited | 0.006 | 20% | 513843 | $4,413,287 |
| IPD | Impedimed Limited | 0.006 | 20% | 814710 | $18,312,468 |
| BDX | Bcaldiagnostics | 0.062 | 19% | 351027 | $19,171,531 |
| AMD | Arrow Minerals | 0.013 | 18% | 4685154 | $18,494,450 |
| W2V | Way2Vatltd | 0.055 | 17% | 238035 | $12,268,311 |
| CTT | Cettire | 0.28 | 17% | 17944019 | $91,497,173 |
| AEV | Avenira Limited | 0.007 | 17% | 9855252 | $32,580,538 |
| AUV | Auravelle Metals | 0.007 | 17% | 1472022 | $5,389,535 |
| BLU | Blue Energy Limited | 0.0035 | 17% | 975707 | $9,035,921 |
| OLI | Oliver’S Real Food | 0.007 | 17% | 90739 | $3,244,392 |
ASX Laggards
Today’s worst-performing stocks (including small caps) intraday:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| WEL | Winchester Energy | 0.001 | -33% | 14250345 | $2,569,528 |
| ARO | Altorometalsltd | 0.003 | -25% | 220000 | $10,059,226 |
| M96 | Maverick Minerals Au | 0.007 | -22% | 1355066 | $16,623,958 |
| OAK | Oakridge | 0.06 | -20% | 61569 | $2,399,839 |
| FAU | First Au Ltd | 0.008 | -20% | 24466000 | $37,634,802 |
| MRQ | Mrg Metals Limited | 0.002 | -20% | 325687 | $8,370,378 |
| ACS | Accent Resources NL | 0.19 | -17% | 81610 | $112,593,575 |
| BNL | Blue Star Helium Ltd | 0.005 | -17% | 16942509 | $36,917,490 |
| VIT | Vitura Health Ltd | 0.026 | -16% | 2091552 | $20,544,997 |
| KNO | Knosys Limited | 0.021 | -16% | 15000 | $5,403,467 |
| CHM | Chimeric Therapeutic | 0.011 | -15% | 1873645 | $920,858 |
| RLF | Rlfagtechltd | 0.029 | -15% | 2281715 | $18,280,340 |
| EMU | EMU NL | 0.018 | -14% | 214004 | $8,515,451 |
| 1AD | Adalta Limited | 0.003 | -14% | 1498964 | $11,242,592 |
| ADN | Andromeda Metals Ltd | 0.006 | -14% | 62100546 | $32,365,434 |
| ERL | Empire Resources | 0.006 | -14% | 1020002 | $14,609,991 |
| FEL | Forte Energy Ltd | 0.006 | -14% | 100000 | $6,062,027 |
| RFT | Rectifier Technolog | 0.006 | -14% | 169158 | $9,673,888 |
| JGH | Jade Gas Holdings | 0.067 | -14% | 19671899 | $172,965,808 |
| ESR | Estrella Res Ltd | 0.031 | -14% | 6248796 | $80,371,331 |
| VR1 | Vection Technologies | 0.019 | -14% | 5516751 | $51,993,764 |
| KLVDA | Klevo Rewards Ltd | 0.65 | -13% | 4 | $115,872,373 |
| 49M | 49 Metals Limited | 0.1 | -13% | 78411 | $8,075,318 |
| APC | APC Minerals | 0.007 | -13% | 88091 | $5,873,007 |
| FCT | Firstwave Cloud Tech | 0.007 | -13% | 1142127 | $17,015,047 |
In Case You Missed It
Entropy Neurodynamics (ASX:ENP) will pit its IV psilocin candidate against a widely used antidepressant in a proposed Phase II trial.
Imagion Biosystems (ASX:IBX) has advanced its HER2 breast cancer trial towards US enrolment.
Latrobe Magnesium (ASX:LMG) is looking to play a role in Washington’s push to diversify US magnesium supply.
MinRex Resources (ASX:MRR) has delivered shallow, high-grade gold from Barje, boosting the potential of its Tlamino project.
Nimy Resources (ASX:NIM) has unlocked a high gallium and rare earths extraction pathway at Mons.
Nova Minerals (ASX:NVA) has hosted a US congressional visit at its Estelle gold and critical minerals project.
Ora Banda Mining (ASX:OBM) has lifted operating earnings 134% on record gold production.
Sierra Nevada Gold (ASX:SNX) is funded for a major drilling program at its As-Safra copper-gold project.
Stakk (ASX:SKK) is nearing completion of its US$63m Parascript acquisition.
Taiton Resources (ASX:T88) has expanded its Challenger West ground through a gold-copper farm-in with Havilah Resources.
Xpedra Holdings (ASX:XPD) has extended the Springfield gold system with its deepest hits yet.
Trading Halts
Alliance Aviation Services (ASX:AQZ) – cap raise
Black Bear Minerals (ASX:BKB) – cap raise
Broken Hill Mines (ASX:BHM) – cap raise
Castle Minerals (ASX:CDT) – cap raise
Falcon Metals (ASX:FAL) – cap raise
One More Thing…
And finally, according to the internets, today is National Toilet Paper Day.
Which seems appropriate after Aussie inflation once again gave mortgage holders the urge to start hoarding household essentials such as bogroll.
Although, to be fair, anyone who lived through 2020 knows this is not a subject Australians need a commemorative day to take seriously.
Did this really happen? All feels like a weird fever dream… Do remember the kids loving being off school, though.
A Bankstown mother and daughter have been charged, after a fight over toilet paper in Woolworths. @hansinclair9 #9News pic.twitter.com/P6VjuXyqg6
— 9News Australia (@9NewsAUS) March 8, 2020
