Australian market declines on inflation shock
The S&P/ASX 200 Index (ASX: XJO) fell 1 per cent to close at 8,926.2, posting its sharpest decline since early September after hotter‑than‑expected quarterly inflation data quashed hopes of a rate cut by the Reserve Bank of Australia (RBA). Core inflation rose 1 per cent over the quarter, exceeding both market expectations and the RBA’s forecasts. As a result, the bond market pushed back any expectations of monetary easing to 2026. Financial stocks led the losses, with major lenders including Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Limited (ASX: NAB), Westpac Banking Corporation (ASX: WBC), and Australia and New Zealand Banking Group Limited (ASX: ANZ) all closing lower.
Company news lifts select stocks despite broad weakness
Despite the market-wide downturn, a number of stocks posted strong gains. Nick Scali Limited (ASX: NCK) surged 12.7 per cent after reporting robust first-quarter sales and raising its first-half profit forecast. Boss Energy Limited (ASX: BOE) soared nearly 20 per cent on record uranium output and favourable U.S. nuclear policy developments. Woolworths Group Limited (ASX: WOW) advanced 2.4 per cent despite underwhelming quarterly sales, while Ansell Limited (ASX: ANN) gained 5.9 per cent after upgrading its earnings outlook. On the downside, CSL Limited (ASX: CSL) dropped 4 per cent to a five-year low after an earnings downgrade, and Cash Converters International Limited (ASX: CCV) fell 7.1 per cent following a completed equity raising.Global markets mixed as Fed signals caution
U.S. equity markets closed with mixed results after Federal Reserve Chair Jerome Powell indicated that a December rate cut is not guaranteed. The S&P 500 Index (NYSE: SPX) rose 0.2 per cent and the Nasdaq Composite Index (NASDAQ: IXIC) added 1 per cent, both reaching new records, while the Dow Jones Industrial Average (NYSE: DJI) slipped slightly. Tech stocks drove the gains, led by NVIDIA Corporation (NASDAQ: NVDA), which jumped 3.6 per cent and briefly surpassed a US$5 trillion market valuation. Broader market sentiment remained cautious following Powell’s comments, reflecting a global environment of economic uncertainty despite recent bullish momentum in equities.
| Australian Indices | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -1.1 | 0.7 | 3.6 | 12.7 |
| Financials | 0.7 | 2.9 | 7.5 | 20.8 |
| Resources | -0.4 | 2.6 | 14.3 | 14.8 |
| Information Technology | -1.9 | -4.4 | -4.3 | 15.3 |
| Global Indices | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 1.4 | 3.4 | 7.1 | 19.7 |
| Europe | -0.4 | 2.7 | 4.7 | 23.1 |
| Japan | -0.8 | 3.3 | 11.4 | 24.2 |
| China top 50 | 0.3 | -0.9 | 4.0 | 32.1 |
| India top 50 | -1.6 | 4.7 | 0.3 | 0.3 |
| Fixed Interest | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.7 | 0.7 | 1.2 | 5.8 |
| Australian Corporate Bond | -0.6 | 0.7 | 1.3 | 6.4 |
| US Treasury | -0.1 | 1.5 | 3.3 | 4.9 |
| Cash | 0.1 | 0.3 | 1.0 | 4.2 |
| Commodities & Crypto | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -4.3 | 3.0 | 17.6 | 41.5 |
| Silver | -4.1 | -1.2 | 20.3 | 35.8 |
| Crude Oil | 2.8 | -4.4 | -10.3 | -0.1 |
| Bitcoin | 0.5 | -2.8 | -6.9 | 61.5 |