Markets Overview

  • ASX SPI 200 futures up 0.4% to 6,413.00
  • Dow Average down 0.2% to 30,483.13
  • Aussie down 0.6% to 0.6926 per US$
  • U.S. 10-year yield fell 11.7bps to 3.1580%
  • Australia 3-year bond yield fell 11bps to 3.45%
  • Australia 10-year bond yield fell 8bps to 3.99%
  • Gold spot up 0.3% to $1,837.92
  • Brent futures down 4.1% to $109.97/bbl

Economic Events

  • 9am: (AU) June S&P Global Australia PMI Compo, prior 52.9
  • 9am: (AU) June S&P Global Australia PMI Servi, prior 53.2
  • 9am: (AU) June S&P Global Australia PMI Mfg, prior 55.7
  • 10:30am: (AU) Australia to Sell A$500 Million 63-Day Bills
  • 10:30am: (AU) Australia to Sell A$1.5 Billion 105-Day Bills

US stocks slumped after Federal Reserve Chair Jerome Powell reiterated his commitment to curb inflation and acknowledged the risk of recession, even as some traders now expect the central bank to closely monitor the impact of its rate hikes on the economy.

The S&P 500 snapped a two-day rally and the tech-heavy Nasdaq 100 also fell. Treasury yields declined with the 10-year yield hovering around 3.15%. The dollar fell after earlier gains while other safe haven assets such as gold climbed.

Other News

An athlete from Australia performed 3,182 push-ups in an hour to officially break a Guinness World Record.

Daniel Scali did over 100 more push-ups than the previous record holder to achieve the world record for most push-ups in an hour (male), Guinness World Records announced.

Not only did Daniel take the record from Jarrad Young, who completed 3,054 push-ups within an hour in 2021, it’s also the second Guinness title he has claimed.

Previously, the Aussie had broken the Guinness World Record for longest time in the abdominal plank position (male).

However, even as fitness milestones appear to come naturally to Daniel, his records don’t tell the entire story.

The Australian is fighting through incurable pain even as we speak, courtesy of CRPS (complex regional pain syndrome), a chronic condition that he has had ever since he broke his arm at the age of 12, according to Guinness World Records.

“It’s the brain sending wrong messages to my arm, which is the affected area. So anything like soft touch, movements, wind or water will cause me pain,” Daniel explains.

Growing up wasn’t exactly ideal for the man who, very often, couldn’t go out because of the unimaginable discomfort that came with CRPS. Recounting his early treatment years, Daniel said sometimes he had to be hospitalised for months on end to put local anaesthetic on his left arm to ease the pain.

But, he found a way to take some of that hurt in his stride through physical exercise and fitness.