The S&P/ASX 200 Index (ASX: XJO) is back in negative territory on Tuesday, despite a stronger lead from Wall Street overnight.

At the time of writing, the ASX 200 is down 0.37% to 8,798 points.

That puts the benchmark index close to its intraday low of 8,790.3 points and below yesterday’s close of 8,831 points.

It’s not a heavy fall, but it is another reminder that the local market is still finding it hard to build momentum.

Here’s what is weighing on the ASX 200 today.

Wall Street rally fails to lift our local share market

The fall comes after a positive night in the United States.

The Dow Jones Industrial Average (DJX: .DJI) lifted 0.29% to a record close of 53,055.91 points, while the S&P 500 Index (SP: .INX) rose 0.72% and the Nasdaq Composite Index (NASDAQ: .IXIC) climbed 1.12%.

Normally, that sort of lead would give local shares a better platform.

However, the ASX 200 has not been able to make much of it. Instead, selling across miners, gold shares, and parts of the energy sector is offsetting gains from the banks and tech stocks.

The broader market is also mostly in the red.

At the latest check, 121 of the top 200 shares were falling, compared with 75 rising and 4 trading flat.

Miners drag on the ASX 200

Resources stocks are doing much of the damage today, with the S&P/ASX 200 Resources Index (ASX: XJR) sliding 2.3% to 7,397 points.

BHP Group Ltd (ASX: BHP) shares are down 1.08% to $59.375, while Rio Tinto Ltd (ASX: RIO) shares are shedding 1.76% to $168.15.

Gold stocks are also under pressure with the gold price slipped to US$4,127 per ounce, down 0.91%.

Northern Star Resources Ltd (ASX: NST) shares are tumbling 3.17% to $21.08, while Evolution Mining Ltd (ASX: EVN) shares are falling 3.57% to $12.16.

Banks and tech stocks provide some support

The major banks are helping soften the fall.

Commonwealth Bank of Australia (ASX: CBA) shares are up 1.23% to $166.69, while Westpac Banking Corp (ASX: WBC) shares have added 0.85% to $35.59.

National Australia Bank Ltd (ASX: NAB) shares are 0.96% higher at $39.02, while ANZ Group Holdings Ltd (ASX: ANZ) shares have lifted 0.49% to $35.17.

Macquarie Group Ltd (ASX: MQG) shares are also stronger, rising 0.92% to $253.03.

Tech stocks are helping too, with WiseTech Global Ltd (ASX: WTC) shares jumping 8.4% to $38.34 after the company announced Raelene Murphy had been appointed independent chair.

Xero Ltd (ASX: XRO) shares are 1.5% higher to $74.66.

The post ASX 200 slips again: Why the market can’t follow Wall Street higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended BHP Group and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Australians aged 67 years or older are eligible for a fortnightly Age Pension payment to help fund basic living expenses in retirement.

The Age Pension, which is paid by Centrelink, is an important safety net that ensures that older Australians are able to meet basic living requirements, regardless of the amount of savings, income, assets, or superannuation they own.

The catch is that it isn’t available to everyone. Your eligibility is subject to several key criteria, including your age, residency, and an income and asset test.

The problem is that while many understand that their income could affect the payment they receive, many overlook asset limits.

Here’s a breakdown of everything you need to know about the Age Pension and the asset test.

The maximum Age Pension payment

The Age Pension is paid on a fortnightly basis up to a maximum total payment of $1,200.90 per fortnight for singles and $1,810.40 for couples combined. 

These sums include the maximum basic rate, the maximum pension supplement, and the energy supplement.

As I mentioned above, the final amount you’ll receive (if anything) is heavily dependent on Centerlink’s income and asset test. 

What is the Age Pension asset test?

Then an asset test includes any stocks, like S&P/ASX 200 Index (ASX: XJO) shares, property, or possessions you own in full, in part, or have an interest in. This includes assets held outside Australia and any debts owed to you. It generally excludes the home you live in.

Note, however, that Centrelink assesses you under both tests and applies what it calls the ‘lower rule of two’. 

This means your potential fortnightly Age Pension is calculated under both tests. The one that results in the lower payment is the amount you will actually receive.

What are the asset test limits?

In order to receive the full Age Pension, single homeowners can own assets (including superannuation) up to a value of $333,000. For single non-homeowners, this will be up to $600,000 in retirement.

But a couple has a different threshold, and it’s not double the amount of one person. From the 1st of July, a couple combined can own up to $499,000 in total if they own a property, or $766,000 if they don’t.

How are assets calculated?

In order to determine how much income you make from your assets, Centrelink uses a deeming rule. 

Deeming assumes your financial assets earn a fixed, set rate of income, regardless of what they actually earn.

This assumed income is then added to your other income to determine your Age Pension rate.

For single Australians, the first $66,800 of their financial assets has a deemed rate of 1.25%. Everything over that is deemed to earn 3.25% interest.

Couples will have a 1.25% deeming rate on their first $110,600 of combined financial assets (this includes superannuation). Anything over $110,600 is deemed to earn 3.25%.

What if I own over that threshold?

If your assets are over the limit explained above, it’s still possible to receive a part Age Pension payment

From the 1st of July, the cut-off point for single homeowners is $733,500, and $1,000,500 if you’re single and a non-homeowner. If your assets come in above the initial limits but below these thresholds, you’re still entitled to some level of payment.

Couples are also entitled to a part-payment, so long as their combined assets don’t exceed $1,102,500 for homeowners. Non-homeowners can own assets totalling up to a limit of $1,369,500.

The post What assets can I own in retirement and still qualify for the Centrelink Age Pension? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

National Australia Bank Ltd (ASX: NAB) shares are in the green again in Tuesday lunchtime trade.

At the time of writing, the ASX bank stock is up around 0.5% to $38.83 a piece.

Today’s increase means NAB shares have now recovered around 9% since they dropped to a 52-week low in early June.

For the year to date, NAB shares are still down around 8% and are around 1% below the levels seen this time last year.

What happened to NAB shares?

NAB shares rallied strongly to a record high of around $49.10 in late February this year. 

The increase was mainly driven by the bank’s strong earnings results, expectations of lower interest rates, and investor appetite for high-yield bank stocks.

But as quickly as NAB shares stormed higher, they softened again. By early June, the shares had shed around 27% of their value and slumped to an annual low of $35.86.

The sell-off followed concerns that major banks, including NAB, were overvalued after a strong rally. 

Meanwhile, intense mortgage competition has put pressure on the bank’s profit margins and raised concerns about future earnings.

The share price has rebounded slightly since the dip, most likely reflecting slightly improved market sentiment. However, many experts are still cautious.

Which leads to the question, what’s next?

Are the ASX 200 banking giant’s shares a buy, sell, or hold over the next 12 months?

Market Index data shows that brokers are divided about NAB shares, but the majority rate the bank stock as a hold. The average target price of $39.17 implies a potential 1% upside ahead.

Sentiment is similar on TradingView. Data shows that the majority (eight out of 16 analysts) have a hold rating on the shares. Another five rate NAB shares as a sell or strong sell, and the remaining analysts rate the stock as a buy.

But the average $37.78 target price implies a potential 3% downside ahead, at the time of writing. 

The range is huge, though. The maximum $47.50 target price implies a potential 22% upside ahead. But others think NAB shares could crash 25% to just $29 each.

Fairmont Equities’ Michael Gable said he is concerned about the outlook for NAB shares in FY27. He pointed to margin pressure, credit risk, and questions around the bank’s competitive advantage. He has a sell rating on the shares and said the stock is exposed to downside risk. 

Mark Gardner from MPC Markets said his team is bearish on NAB shares. He said they believe the bank’s near-term earnings outlook is under pressure. The broker recently said that while its dividend remains attractive, valuation support is less convincing if earnings momentum continues softening. Gardner has a sell recommendation.

Catapult Wealth’s Dylan Evans also has a sell recommendation on NAB shares. He said that changes announced in the Federal Budget, coupled with households pressured by rising interest rates, could create new headwinds for the bank.

The post Here’s what brokers tip for NAB shares over the next 12 months appeared first on The Motley Fool Australia.

More reading

• ASX 200 slips again: Why the market can’t follow Wall Street higher
• ASX financials went from the best sector in FY25 to negative growth in FY26. Here’s what changed
• Better buy? NAB vs Westpac shares
• A leading analyst is forecasting growing headwinds for NAB shares. Should investors be worried?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.