Live: ASX to open lower as the price of oil drops

The Aussie share market is set to open lower in morning trading, as Wall Street closes up in the red.

Meanwhile, the price of oil has dropped.

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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Key Event

Thu 2 Jul 2026 at 7:18am

Thu 2 Jul 2026 at 7:18am

Market snapshot

By Adelaide Miller

ASX 200 Futures: -0.2% to 8,693 points

Australian dollar: +0.1% to 68.94 US cents

Wall Street: S&P500 -0.2%, Dow -0.03%, Nasdaq -1.5%

Europe: FTSE -0.2%

Spot gold: +0.6% to $US4,030/ounce

Oil: -2.5% to $US71.16/barrel

Iron ore: -1.1% to $US97.90/tonne

Bitcoin: +0.6% to $US60,426

Prices current at around 7:15am AEST

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Key Event

Thu 2 Jul 2026 at 8:30am

Thu 2 Jul 2026 at 8:30am

Wall St closes in the red

By Adelaide Miller

Wall St has finished Wednesday trading, with each major index closing down.

The S&P 500 finished the day down -0.2% to 7,483 points.

The Financials sector led the way, followed by Consumer Cyclicals. The Utilities sector finished down the bottom.

Of the major stocks, Applovin Corp, the AI-powered marketing company finished up +9.6%.

Materials science company Corning Inc finished down the bottom, down -13.6%.

The Dow Jones Industrial Average finished the day slightly down -0.03% to 52,304 points.

Here are the top movers, with athletic footwear company Nike Inc finishing up +4.9%.

Here are the bottom movers, with mining and construction manufacturer Caterpillar Inc finishing down -6.9%.

The Nasdaq Composite finished the day down -1.5% to 29,809 points, with sector Basic Materials up the top, and the Energy sector down the bottom.

Here are the top movers, again, with Applovin Corp leading the way.

And finally, here are the bottom movers, with AI infrastructure company Nebius Group NV down a massive -17%.

Key Event

Thu 2 Jul 2026 at 8:15am

Thu 2 Jul 2026 at 8:15am

Recent years tougher for borrowers than enduring 17pc interest rates, analysis finds

By Adelaide Miller

New economic analysis has found that, over the past two years, Australian households have faced tougher conditions than they did when the RBA's cash rate reached 17.5 per cent in 1989.

KPMG senior economist Terry Rawnsley says gen X households faced the toughest interest rate burden during the global financial crisis.

Here is the full piece from business reporter Gareth Hutchens:

Key Event

Thu 2 Jul 2026 at 8:00am

Thu 2 Jul 2026 at 8:00am

Tax week: Changes slated for your shares

By Adelaide Miller

Do you own shares or ETFs? The proposed CGT changes could affect your investments.

In this podcast episode Carrington Clarke and Emily Stewart explain CGT tax changes in store for Australians who own EFTs and direct shares.

Listen in to hear how the system used to work, how the new system is set up, and when the switchover will go into effect.

This article contains content that is not available.

Key Event

Thu 2 Jul 2026 at 7:45am

Thu 2 Jul 2026 at 7:45am

ICYMI: Wednesday Finance with Alan Kohler

By Adelaide Miller

The local share market fell yesterday, despite solid gains on Wall Street overnight.

Alan Kohler has all the details.

Key Event

Thu 2 Jul 2026 at 7:30am

Thu 2 Jul 2026 at 7:30am

ASX to open lower

By Adelaide Miller

Good morning everyone and happy Thursday!

I hope it's a sunny morning wherever you are.

Business reporter Adelaide Miller kicking off the finance blog this morning, covering the latest stories on the economy.

To start with, the ASX looks like it will open lower this morning, with Futures pointing down -0.3% to 8687 points.

The Aussie dollar is trading at about 69 US cents.

I'll provide a detailed breakdown of Wall St soon as it closes in the red.

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