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ASX Live Coverage Summary – 4 May 2026
Welcome to our live coverage of the ASX for 4 May 2026. Expect a flurry of updates before the market opens and ongoing insights throughout the day until around 2:00 PM AEST. We appreciate your feedback on how we can enhance this experience.
Nuix Appoints John Ruthven as Permanent CEO
[9:07 AM] Nuix has officially named John Ruthven as its Chief Executive Officer, effective 4 May 2026. Ruthven, who has served as Interim CEO since November 2025, was selected following a global search by the board, which unanimously recognised his strategic insight and familiarity with the company. Ruthven expressed his strengthened belief in Nuix’s core values of purpose, differentiation, and human capital as critical factors for future growth.
Company Page: Nuix (NXL)
NAB Delivers Strong 1H26 Results
[9:04 AM] National Australia Bank (NAB) showed underlying earnings growth, bolstered by robust business banking performance. However, a $949 million adjustment related to software capitalisation affected the overall results.
- Revenue rose by 3.1%, with notable growth in cash earnings at $3.58 billion, significantly outperforming estimates.
- Net Interest Margin (NIM) increased by 3 basis points to 1.81%.
- Australian business lending grew by 5.6%, with market share gains noted in small and medium enterprises.
- NAB’s interim dividend remains unchanged at 85 cents per share.
Company Page: National Australia Bank (NAB)
Market Drivers: Bullish and Bearish Factors
[8:46 AM] As the Q1 US earnings season nears its conclusion amidst Middle East uncertainties, here’s a look at market influences:
Bullish Indicators:
- The S&P 500 earnings growth rate surged to approximately 27%.
- Big Tech companies are capitalising on AI demand with anticipated capital expenditures exceeding $700 billion.
- Consumer resilience is reflected in spending data from Visa and Mastercard.
- April’s macro data indicates positive economic trends, including expansion in the ISM manufacturing index.
Bearish Pressures:
- Brent crude oil prices remain elevated above $105 per barrel, with ongoing geopolitical tensions.
- Concerns over AI capital expenditures impacting revenue forecasts for leading companies like Meta and Microsoft.
- A hawkish stance from the Federal Reserve on interest rates amid persistent inflationary pressures.
US Quarter 1 Earnings Performance Exceeds Expectations
[8:43 AM] Recent findings from FactSet indicate that S&P 500 companies are experiencing earnings growth at nearly double the anticipated rate. As of now:
- EPS growth stands at 27.1%, significantly above the expected 13.2%.
- A large proportion of companies have outperformed their earnings estimates.
US Manufacturing Data Highlights Strength Amid Inflation Woes
[8:42 AM] The latest ISM manufacturing data from April showed robust expansion but highlighted increasing input costs tied to geopolitical issues.
- New orders surged for the fourth consecutive month, but employment data suggested ongoing contraction in hiring.
Exxon and Chevron Report Strong Results Amidst Challenges
[8:40 AM] Exxon and Chevron reported earnings that surpassed expectations despite experiencing drops in net income due to hedging losses related to the ongoing conflict in the Middle East.
Exxon 1Q26 Highlights:
- Adjusted EPS of $1.16, beating estimates by 16%.
- Revenue increased to $85.14 billion.
Chevron 1Q26 Highlights:
- Adjusted EPS of $1.41, exceeding estimates by nearly 50%.
- Despite net income declines, production levels rose 15%.
Spirit Airlines Shuts Down After Failed Bailout
[8:39 AM] Spirit Airlines ceased operations on 2 May 2026 after a major bailout proposal collapsed, which has resulted in thousands of job losses. The carrier had struggled following escalating fuel prices due to the international crisis.
Berkshire Hathaway Reports Strong Cash Position
[8:38 AM] Berkshire Hathaway’s Q1 results reveal record cash reserves of $397 billion, indicating a cautious investment strategy amid a volatile environment.
OPEC+ Adjusts Production Strategies
[8:35 AM] OPEC+ has agreed to increase its output by 188,000 barrels per day in June, signalling a shift in strategy after the recent departure of the UAE from the cartel.
Future Market Outlook
[8:32 AM] Broader market trends suggest robust earnings across various sectors beyond technology, reflecting improvement in consumer discretionary spending. The Russell 2000 index has witnessed strong gains, and investor sentiment appears to be cautiously optimistic as the market navigates ongoing challenges.
Good Morning!
[8:16 AM] ASX 200 futures are down by 23 points, reflecting a mixed overnight session in the US, with the S&P 500 and Nasdaq marking all-time highs, primarily driven by technology stocks.
Stay tuned for more updates throughout the day!
