ASX Gains as Investors Eye US CPI; Coles Posts Q3 Sales Growth
Press Hub UCapital
Share:
Australian equities closed higher on Wednesday, supported by cautious optimism ahead of key U.S. macroeconomic releases. The S&P/ASX 200 Index advanced 0.69%, gaining 55.6 points to finish at 8,126.2, as market participants positioned ahead of incoming U.S. inflation and GDP data, which could shape expectations for monetary policy trajectory and global risk appetite.
Investor focus remains squarely on upcoming data from the United States, which is expected to offer clearer guidance on the pace of disinflation and underlying economic resilience. Market sentiment remains balanced, with Saxo Markets’ chief investment strategist Charu Chanana noting that “markets are just chopping around and looking for a fresh catalyst.” The data will be interpreted in the broader context of President Donald Trump’s latest tariff policy signals and the ongoing earnings season.
Tech megacaps are also in focus this week, with Microsoft, Apple, Meta, and Amazon—four constituents of the so-called “Magnificent Seven”—set to report quarterly results. Consensus expectations point to 15% profit growth for the group, despite persistent global trade headwinds.
Domestically, economic indicators presented a steady picture. Australia’s total credit expanded 0.5% month-on-month in March, matching February’s pace, according to the Reserve Bank of Australia. Meanwhile, the Consumer Price Index rose 0.9% for the March quarter, translating to 2.4% annual inflation, per data from the Australian Bureau of Statistics—well within the RBA’s comfort zone and consistent with a gradual normalization narrative.
On the corporate front, Coles Group (COL) reported a 3% increase in total sales revenue for fiscal Q3, reaching AU$10.38 billion, up from AU$10.03 billion in the same period last year. The result reflects steady consumer demand in the supermarket segment despite cost-of-living pressures.
In the energy sector, Woodside Energy (WDS) announced it has signed a natural gas supply agreement with BP to support the Louisiana LNG project. The deal underscores Woodside’s efforts to expand its U.S. footprint amid growing global demand for liquefied natural gas.
Conversely, The Star Entertainment Group (SGR) posted a weak quarterly update, reporting AU$271 million in Q3 revenue, down 35% year-on-year from AU$419 million, amid ongoing regulatory challenges and subdued tourism recovery.
As the trading week progresses, the ASX will likely remain sensitive to macro data surprises and corporate earnings trends from key global benchmarks, particularly those with implications for rates, trade flows, and risk sentiment.
Investor focus remains squarely on upcoming data from the United States, which is expected to offer clearer guidance on the pace of disinflation and underlying economic resilience. Market sentiment remains balanced, with Saxo Markets’ chief investment strategist Charu Chanana noting that “markets are just chopping around and looking for a fresh catalyst.” The data will be interpreted in the broader context of President Donald Trump’s latest tariff policy signals and the ongoing earnings season.
Tech megacaps are also in focus this week, with Microsoft, Apple, Meta, and Amazon—four constituents of the so-called “Magnificent Seven”—set to report quarterly results. Consensus expectations point to 15% profit growth for the group, despite persistent global trade headwinds.
Domestically, economic indicators presented a steady picture. Australia’s total credit expanded 0.5% month-on-month in March, matching February’s pace, according to the Reserve Bank of Australia. Meanwhile, the Consumer Price Index rose 0.9% for the March quarter, translating to 2.4% annual inflation, per data from the Australian Bureau of Statistics—well within the RBA’s comfort zone and consistent with a gradual normalization narrative.
On the corporate front, Coles Group (COL) reported a 3% increase in total sales revenue for fiscal Q3, reaching AU$10.38 billion, up from AU$10.03 billion in the same period last year. The result reflects steady consumer demand in the supermarket segment despite cost-of-living pressures.
In the energy sector, Woodside Energy (WDS) announced it has signed a natural gas supply agreement with BP to support the Louisiana LNG project. The deal underscores Woodside’s efforts to expand its U.S. footprint amid growing global demand for liquefied natural gas.
Conversely, The Star Entertainment Group (SGR) posted a weak quarterly update, reporting AU$271 million in Q3 revenue, down 35% year-on-year from AU$419 million, amid ongoing regulatory challenges and subdued tourism recovery.
As the trading week progresses, the ASX will likely remain sensitive to macro data surprises and corporate earnings trends from key global benchmarks, particularly those with implications for rates, trade flows, and risk sentiment.