Thu 6 Aug 2026 at 12:15pm
Market snapshot
- 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:
Thu 6 Aug 2026 at 12:00pm
Miners and US-Iran peace deal hopes drive ASX to record high
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, with Australian 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 Resources have soared by more than 6% so far.
Thu 6 Aug 2026 at 11:31am
Report finds chronic underpayment of migrant workers
The Migrant Justice Institute has released its latest Off The Books report with some pretty damning findings.
It says there are widespread workplace breaches among temporary visa holders across 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.
Thu 6 Aug 2026 at 11:00am
Credit default swaps at record highs signal major risk for US big tech
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 debt to 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:
Thu 6 Aug 2026 at 10:38am
ASX at record high
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:
Thu 6 Aug 2026 at 10:25am
ASX starts the day in positive territory
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 127 are 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.
Thu 6 Aug 2026 at 10:15am
Market snapshot
- 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:
Thu 6 Aug 2026 at 10:02am
ASX in the green
The ASX 200 has begun trading up +0.2% to 9,250 points.
More to come.
Thu 6 Aug 2026 at 9:40am
Jetstar says luggage changes align with other budget airlines. But are low-cost carriers still cheaper?
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 bag to 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-McGrath and the Specialist Reporting Team’s Lucy Kent.
Thu 6 Aug 2026 at 9:20am
The Fire Brigade Employees Union argues insurance companies need to step up
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 tax before the March 2027 state election.
NSW Premier Chris 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 resources communities require”.
“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 resourced.
“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.”
“The insurance industry derive significant benefit from a fully funded emergency services sector and should therefore bear responsibility for ensuring it is adequately resourced.
“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.”
Thu 6 Aug 2026 at 9:00am
Google shakes up AI leadership as DeepMind chief shifts role
Google parent company Alphabet has announced a leadership overhaul of 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
Thu 6 Aug 2026 at 8:42am
How are small businesses feeling one month into payday super?
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 times in 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.”
Thu 6 Aug 2026 at 8:10am
‘A painful lack of catalysts’ on Wall St, according to one analyst
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, according to Mr Rodda, 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.”
Thu 6 Aug 2026 at 7:55am
Carnival cruise workers make ‘horrifying’ allegations about conditions
Workers on Carnival cruise ships have told ABC News they receive paltry pay and experience punishing working conditions.
A decades-old exemption to Australian labour laws for cruise ships leaves crew with little protection.
My colleague Jasper Wells has spent months investigating the world’s largest cruise company, uncovering allegations that workers were forced to eat rotten leftovers, faced extreme working hours and 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
Thu 6 Aug 2026 at 7:40am
ICYMI: Wednesday finance with Alan Kohler
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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Thu 6 Aug 2026 at 7:20am
Market snapshot
- 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:
Thu 6 Aug 2026 at 7:20am
ASX to open slightly lower
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 a slightly 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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