Live: ASX edges higher as tech stocks rally
The ASX is set to edge higher after gains in the US, where Nvidia helped drive a rally in technology stocks.
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By Lin Lin
By Lin Lin
- ASX 200 Futures: +0.1% to 9,000 points
- Australian dollar: flat at 71.94 US cents
- Wall Street: Dow Jones (+0.2%), S&P 500 (+0.72%), Nasdaq Composite (+1.57%)
- Europe: FTSE (-0.79%), DAX (+0.3%)
- Spot gold: +0.2% at $US4,601/ounce
- Oil (Brent crude): +1.76% to $US89.39/barrel
- Bitcoin: +2.1% to $US80,124
Prices current around 7:30 am AEST
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ASX to modestly rise
By Lin Lin
By Lin Lin
Good morning and happy Friday!
Lin here from the ABC’s national business team to take you through this morning of financial and business news.
Aussie shares are poised for a modest rise at the open, after Nvidia’s strong earnings helped lift Wall Street and reinforced confidence in the AI-driven tech rally. The chip company’s share price surged by 7.5 per cent.
Wall Street rose, led by technology stocks, with the Nasdaq up 1.57 per cent, the S&P 500 gaining 0.72 per cent and the Dow adding 0.2 per cent.
Attention now shifts to Federal Reserve Chair Kevin Warsh’s first Jackson Hole speech on Friday (US time).
His remarks will be closely watched for clues on the path for US interest rates, particularly after recent inflation data and moves in bond yields.
The Aussie dollar rose slightly overnight and is currently trading just below 0.72.
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