Key insights
- Australian market declined broadly, with energy being the only positive sector. Earnings revisions are negative. US S&P 500 increased 1.6%. Limited direct read-through to US equities, but positive S&P performance provides a mildly bullish offset to negative global sentiment.
Investing.com -- The ASX100 decreased 2% as the Australian market experienced broad declines, with the ASX300 down 2% and the Small Ordinaries falling 1.8%, according to a Macquarie review.
Energy was the only sector to post positive returns, rising 1.9%. Woodside Energy, Ampol and Santos were the major contributors to the sector's gains.
Healthcare was the worst performing sector, declining 6.1%. Cochlear, CSL and ResMed Inc all contributed to the sector's fall.
The market price-to-earnings ratio for June 2026 decreased to 18.3x, while the December 2026 PER decreased to 17.2x. The market earnings per share growth for June 2026 is 10.9% and December is 13.7%.
The four-week rolling FactSet Australian earnings net revisions were negative, indicating more negative revisions than positive revisions.
Block led the positive revisions table, while Cochlear led the negative revisions table.
In the US, the S&P 500 increased 1.6%, while the Dow Jones was up 0.2%.