US equities closed flat as investors await the Federal Reserve’s Jackson Hole summit, a three-day annual international conference attended by central bank leaders, as well as the release of retail earnings. The Dow Jones closed 0.08% lower, the S&P500 was flat, just 0.01% in the red and the Nasdaq closed 0.03% in the green. 

European markets were mixed amid discussions between Ukraine and the US. The STOXX60 gained 0.08%, the German DAX down 0.18%, France’s CAC down 0.5% and the FTSE100 up 0.21%. 

Locally yesterday, the ASX200 advanced 0.23% with communication services and technology in the lead, while materials and energy declined the most. 

What to watch today:

• The SPI futures are suggesting at the Australian market will decline 0.26% at the open this morning, following a flat session on Wall Street overnight. 
• BHP Group (ASX:BHP) released it’s full year results this morning. The mining giant posted its smallest annual underlying profit in 5 years, as iron ore prices remained under pressure due to oversupply concerns and slowing China demand. They reported an underlying attributed profit of $10.16 billion for the year ending June 30, below expectations. 
• Australian biopharmaceutical company CSL Limited (ASX:CSL) also released results this morning, reporting at 14% rise in annual earnings, driven by strong performance at its blood plasma business. The company also announced a $750 million buyback in fiscal year 2026. 
• In economic data, Westpac’s consumer confidence data and consumer inflation expectations will be released today. 
• Looking at commodities, 
  • Crude oil has rebounded 0.9% to US$63.36 per barrel, following the inconclusive US-Russia summit in Alaska on Friday. Markets are watching the potential impact of the talks on global oil supply, including possible changes to sanctions or progress toward reconciliation.
  • The price of gold has steadied, trading at US$3,331.93 an ounce. 
  • And iron ore is in the green at US$101.62. 

Trading Ideas:

• Bell Potter maintains a Speculative Buy rating on Comet Ridge (ASX:COI), an energy exploration and development company focused on coal and gas. Their valuation is $0.21 and at the current price of $0.14, this implies 56% share price growth in a year. 
• And Trading Central have identified a bearish signal in Imdex (ASX:IMD) indicating that the stock price may fall from the close of $3.40 to the range of $2.75 to $2.85 over 20 days, according to the standard principles of technical analysis.