ASX tracking towards a second consecutive weekly decline

The Australian sharemarket is tracking towards a second consecutive weekly decline after a modest drop on Friday, led by technology and financials, amid concerns on Wall Street of a weakening American labour market.
The S&P/ASX 200 index fell 0.1 per cent, or 6.6 points, to 8821.70 at 10.08am AEDT , with five of the 11 sectors lower.
Technology was the main laggard, tracking losses on the Nasdaq as Nvidia fell more than 2 per cent and Sydney-based Iren plunged 12 per cent. WiseTech Global retreated 1.7 per cent, Life360 by 3.1 per cent and TechnologyOne by 1.8 per cent.
Financials weighed with Macquarie falling 4.3 per cent as it delivered a higher net profit of almost $1.7 billion, buoyed by performance fees in its asset management unit, but missing expectations. Westpac slid 0.8 per cent and Commonwealth Bank by 1.1 per cent.
Materials were mixed. Newmont rallied 1.8 per cent as gold neared $US4000 an ounce again, while BHP, Rio Tinto and Fortescue all traded down.
Alliance Aviation fell 37 per cent as trading resumed after a voluntary suspension. The Qantas-backed aviation services provider warned FY26 results would fall well short of analyst expectations due to higher aircraft, engine and maintenance costs. Founding managing director Scott McMillan stepped down from the board immediately, with chief financial officer Andrew Evans also resigning, with the company noting the departures are unrelated to its outlook.

Sumber : AFR