ASX set to rise after jobs report boosts Wall Street
The Australian sharemarket experienced a slight decline as mortgage application data raised concerns about bank earnings. Despite the broader market dip, sectors like communications and health care saw gains, while mining stocks provided some stability.
Why it matters
Market performance and mortgage trends are key indicators of economic health and consumer confidence in Australia.
— 10:52am , first published August 10, 2026 — 5:25am
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Share A A A Australia’s sharemarket has started the week on the back foot after a dip in mortgage applications raised questions about upcoming bank earnings.
The S&P/ASX200 fell 31 points on Monday, down 0.3 per cent to 9232.6, as the broader All Ordinaries lost 21.1 points, or 0.2 per cent, to 9424.
Westpac was trading 4 per cent lower on Monday. Dominic Lorrimer Westpac tumbled more than 5 per cent after its third-quarter mortgage applications slumped by a fifth following May’s federal budget announcement, raising concerns about how banks would fare this earnings season.
Traders had been bracing for budget-related volatility to hit the market, likely starting with the banks, IG market analyst Tony Sycamore said.
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