ASX Flat as Wall Street Rallies, But Earnings Season Opens With AI Shock and Small-Cap Blues

Oil's 5% slide to $US83.56 a barrel — driven by US-Iran peace hopes — is the fresh air the ASX needed after weeks of geopolitical anxiety. The S&P 500 surged 1.5% overnight, the Dow closed at a record high, and the Magnificent Seven ETF extended its five-day rally to over 8%. Amazon crossed the $US3 trillion market cap threshold for the first time. Back home, Credit Corp reported a 12% profit jump on the back of US debt buying, and Charter Hall Social...