The Australian stock market is notably lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,550 level, with weakness in mining stocks partially offset by gains in energy and technology stocks.
The benchmark S&P/ASX 200 Index is losing 39.70 points or 0.46 percent to 8,657.40, after hitting a low of 8,641.70 earlier. The broader All Ordinaries Index is down 36.50 points or 0.41 percent to 8,887.30. Australian stocks ended modestly lower on Monday.
Among the major miners, BHP Group is losing more than 1 percent, while Fortescue and Rio Tinto are down almost 1 percent each. Mineral Resources is flat.
Oil stocks are higher. Woodside Energy is advancing almost 2 percent, Beach energy is gaining more than 1 percent and Santos is edging up 0.4 percent. Origin Energy is flat.
Among tech stocks, Afterpay owner Block and Zip are edging up 0.2 to 0.4 percent each, while WiseTech Global is advancing more than 4 percent and Xero is adding more than 2 percent. Appen is losing almost 1 percent.
Gold miners are mostly weak. Evolution Mining is losing almost 2 percent, Northern Star resources is down almost 2 percent, Newmont is slipping almost 1 percent and Genesis Minerals is declining almost 3 percent, while Resolute Mining is gaining more than 1 percent.
Among the big four banks, Commonwealth Bank and Westpac are edging down 0.3 percent each, while National Australia Bank and ANZ Banking are edging up 0.1 to 0.2 percent each.
In the currency market, the Aussie dollar is trading at $0.716 on Tuesday.
On Wall Street, stocks moved mostly lower over the course of the trading day on Monday after showing a lack of direction early in the session. The major averages all moved to the downside on the day, with the Dow showing a notable decline.
The Dow slumped 557.37 points or 1.1 percent to 48,941.90, the S&P 500 fell 29.37 points or 0.4 percent to 7,200.75 and the Nasdaq dipped 46.64 points or 0.2 percent to 25,067.80.
The major European markets also moved to the downside on the day. With the U.K. markets closed for a holiday, the German DAX Index slumped by 1.2 percent and the French CAC 40 Index tumbled by 1.7 percent.
Crude oil prices skyrocketed on Monday as the Strait of Hormuz blockade continues to hold oil transit, despite the ongoing diplomatic efforts to end the U.S.-Iran war. West Texas Intermediate crude for June delivery was up $4.00 or 3.92 percent at $105.94 per barrel.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.