Live: ASX to rise as SpaceX shares plunge

The Australian share market is set to rise, after mixed results on Wall Street. Elon Musk's SpaceX sees $1 trillion gone from its share price.

Meanwhile, the price of oil continues to rise, sitting at about $US85 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 16 Jul 2026 at 7:28am

Thu 16 Jul 2026 at 7:28am

Market snapshot

By Adelaide Miller

ASX 200 Futures: +0.1% to 8,818 points

Australian dollar: -0.01% to 70.05 US cents

Wall Street: Dow Jones (+0.3%), S&P 500 (+0.4%), Nasdaq Composite (-0.3%)

Europe: Stoxx 600 (+0.1%), FTSE (-0.1%), DAX (-0.6%)

Spot gold: +0.1% at $US4,059/ounce

Brent crude: +0.8% to $US85.43/barrel

Iron ore: +0.4% to $US100.55/tonne

Bitcoin: -0.1% to $US64,886

Prices current at around 7:25am AEST

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Key Event

Thu 16 Jul 2026 at 8:10am

Thu 16 Jul 2026 at 8:10am

Businesses globally claw back $110 billion after Trump's tariffs deemed unlawful

By Adelaide Miller

Businesses around the world are clawing back tens of billions of dollars paid to United States customs after Donald Trump's "liberation day" tariffs were deemed unlawful.

Business reporter Emilia Terzon spoke with the owner of one Australian company who confirms a six figure payment has landed in his account.

"I can't believe my eyes," he says.

You can read the full exclusive report here:

Key Event

Thu 16 Jul 2026 at 7:55am

Thu 16 Jul 2026 at 7:55am

ICYMI: Wednesday Finance with Alan Kohler

By Adelaide Miller

IBM shares have had the biggest fall in the company’s history.

But that didn’t prevent share markets from rising after Trump backed down from his threat to charge ships for transiting via the Strait of Hormuz.

Here's yesterday's finance recap with Alan Kohler.

Key Event

Thu 16 Jul 2026 at 7:40am

Thu 16 Jul 2026 at 7:40am

ASX to rise at the open, SpaceX plunges

By Adelaide Miller

Good morning everyone and happy Thursday!

Business reporter Adelaide Miller here to guide you through the morning, covering the latest business, finance and economics stories.

To start with, ASX Futures is pointing up for the open +0.1% to 8,818 points.

That's after Wall Street closed with mixed results (I'll provide a breakdown shortly).

SpaceX is in a world of pain, as its share price plunges. Here is a look at its movement before the close.

As you can see, during the trading day, the share price fell below the $US135 IPO price.

I'll provide further detail on this soon.

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