Australian shares edge higher in choppy trading
Make us a preferred source
Make us a preferred source on Google
More news: The Australian sharemarket has edged higher in choppy trading early trading, with investors reluctant to build positions in a shortened trading week, amid continuing uncertainty over US tariffs policy.
The benchmark S&P/ASX 200 index was up 9.20 points or 0.12% to 7,757.80 after the first half hour of trade, with healthcare, technology and consumer sectors accounting for much of the gains. Top miners BHP, Rio Tinto and Fortescue Metals Group were all up between 1.5% to 2%, while energy majors Woodside and Santos also added around 1% each. CBA was the only Big Four bank trading in the green. Bellevue Gold slumped 22% to 89 cents on resuming trading after a discounted capital raise and cuts to production guidance.
Earlier, major US stock indices settled higher after a volatile session as technology stocks saw gains but uncertainty over future tariffs kept a lid on optimism.
Australian shares set to track gains on Wall Street
The news: The Australian sharemarket is set to open slightly higher, tracking gains on Wall Street with investors relieved after the US Trump administration’s exempted smartphones and computers from new tariffs.
The numbers: Updated at 7.25am AEDT:
- ASX futures: up 18 points or 0.23% at 7,792 points
- Wall Street: Dow Jones up 0.78%, S&P 500 up 0.79%, Nasdaq up 0.64%
- Europe: FTSE 100 up 2.14%, CAC 40 up 2.37%, DAX up 2.85%
- Spot gold: down 0.02% to USD3,210.34 per ounce
- Oil prices: Brent up 0.11% to USD64.83/bbl, US WTI up 0.05% to USD61.53/bbl
- AUD: down 0.06% at 63.23 US cents
- Bitcoin: up 1.13% to USD84,641.32.
The context: All three major US stock indices settled higher after a choppy session as technology stocks saw gains but uncertainty over future tariffs kept a lid on optimism. The US unveiled the exemptions on Friday, but President Donald Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week. Shares of iPhone maker Apple, Dell Technologies and HP all ended higher, but top chipmaker Nvidia closed lower. Goldman Sachs rose nearly 2% after the Wall Street bank reported higher first-quarter profit. Quarterly results from companies including Netflix and UnitedHealth Group are also on the radar later this week.
What to watch: Reserve Bank will release minutes of its April 2025 Monetary Policy Meeting at 11.30am; quarterly report from Evolution Mining.
