Live: Commonwealth Bank reports $10.9b annual profit, ASX to slip as US-Iran optimism fades

live Markets live: Commonwealth Bank reports $10.9 billion annual profit, ASX to slip as US-Iran optimism fades The nation's second-largest company Commonwealth Bank has reported its annual net profit rose to $10.9 billion. The Australian share market is expected to start its day lower on fading optimism about a US-Iran peace deal happening any time soon. See how the trading day unfolds on our blog. Disclaimer: this blog is not intended as investment advice. Live updates Market snapshot - ASX futures: -0.4% to 9,153 points - ASX 200 (Tuesday close): +0.2% to 9,251 points - Australian dollar: +0.1% to 70.6 US cents - Wall Street: S&P 500 (-0.3)%, Dow Jones (-0.3%), Nasdaq Composite (-0.6%) - Europe: DAX (+0.3), FTSE (-0.2%), Stoxx 600 (flat) - Spot gold: -0.5% to $US4,368/ounce - Oil (Brent crude futures):+1.7% to $US89.17/barrel - Iron ore: +0.2% to $US95.55/tonne - Bitcoin: -0.6% to $US63,700 Prices current at around 7:20am AEST New: Filters Choose what information you see below by using filters Key Event ASX to open lower on fading hopes of US-Iran resolution happening soon Good morning, and welcome to the ABC's finance blog! I'll be guiding you through the latest market action for the next few hours. The local share market is on track to start its day lower. ASX futures, which are a rough indicator of how the market may open, have fallen by about 0.4%. The Australian dollar is slightly higher at 70.6 US cents. It comes after a weak session on Wall Street, which saw steep losses for America's tech giants like Amazon (-2.1%), Alphabet (-3.8%) and SpaceX (-3.9%). There also appears to be more pessimism amongst investors about the likelihood of the Strait of Hormuz reopening soon, and ongoing doubts about whether the US and Iran can reach a broader resolution to their almost six-month war. One indicator of this pessimism is the higher oil price. Brent crude futures have jumped 1.2% to $US88.81 per barrel, its highest level in a week. The Strait of Hormuz will remain closed as long as the US does not change its behaviour and accept Iran's conditions to end the war, the newly appointed secretary of Iran's Supreme National Security Council said. On Wall Street, the S&P 500 declined 0.3% to 7,728 points. The Nasdaq Composite dropped 0.6% to 26,445 points, while the Dow Jones Industrial Average declined 0.3% to 53,792points. Key Event Commonwealth Bank announces $10.9 billion full-year profit The nations' second-largest company Commonwealth Bank has released its annual results. CBA reported its statutory net profit rose 8% to $10.91 billion. Its preferred measure of earnings, cash profit, went up 7% to $10.98 billion. The bank will pay a full-year dividend of $5.05 per share, fully franked, which is 4% higher than last year's payout to investors. More to come.