The ASX begins major earnings season with banks leading announcements. RBA rate cut probability for early 2026 continued building on disinflationary pressures. Global equity markets stabilized on corporate earnings resilience despite macro uncertainties.

WBC prepared for strong earnings season reports with mortgage portfolio benefits from rate stability. Cost management initiatives improved operating leverage substantially. At $27.80, the banking exposure with 4.8% yield offers dividend security through cycle downturns.

FMG held steady ahead of quarterly production reports with iron ore prices stabilizing. Mine-to-market integration provides competitive advantages. At $20.50, the iron ore exposure with 5.2% yield offers risk/reward balance for commodity cycle investors.

XRO rallied on SaaS growth acceleration with strong customer retention and NPS scores. Cloud accounting adoption continues in SME segment with pricing power improving. At $180, the growth software exposure offers quality earnings momentum.

End-of-season spring campaign shows market reaching equilibrium with balanced buyer-seller dynamics. Tax time considerations drive some property investment decisions in final quarter.

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