Australian shares lift after mixed Wall Street finish
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More news: The Australian sharemarket has opened higher despite a mixed result on Wall Street overnight, with investors focused on key economic data and quarterly company updates this week.
The benchmark S&P/ASX 200 index was up 30.90 points or 0.39% to 8,028 after the first 20 minutes of trade, with a majority of its 11 sectoral indices trading higher.
The gains were focused in financial, real estate and technology stocks. Top miners BHP and Rio Tinto edged higher in early trading, while Fortescue Metals Group was up nearly 2% after reporting a lift in March quarter production and shipments.
Energy majors Woodside and Santos also gained slightly, with the former up 0.25% after approving the final investment decision for the $27 billion Louisiana LNG project in the US. ANZ was the only one among the Big Four banks to be trading lower.
The early gains followed a choppy trading session on Wall Street, where the S&P 500 and the Dow closed higher but the Nasdaq dipped due to pressure on four of the tech-related "magnificent seven" megacaps ahead of their quarterly results this week.
Australian shares to edge higher after mixed Wall Street finish
The news: The Australian sharemarket is set to open slightly higher after a mixed close on Wall Street, where investors awaited key economic data and earnings from some of the largest US megacaps this week.
The numbers: Updated at 7.25am AEDT:
- ASX futures: up 17 points or 0.21% at 8,025 points
- Wall Street: Dow Jones up 0.28%, S&P 500 up 0.06%, Nasdaq down 0.10%
- Europe: FTSE 100 up 0.02%, CAC 40 up 0.50%, DAX up 0.13%
- Spot gold: down 0.01% at USD3,343.97 per ounce
- Oil prices: Brent down 1.87% to USD65.62/bbl, US WTI down 1.54% to USD62.05/bbl
- AUD: down 0.02% at 64.31 US cents
- Bitcoin: up 0.71% to USD94,453.89.
The context: The S&P 500 and the Dow closed higher after a choppy trading session, but the Nasdaq dipped due to pressure on four of the tech-related "magnificent seven" megacaps ahead of their quarterly results this week. Investors are closely monitoring how US President Donald Trump's new tariffs could affect future profits. Markets are also focused on key US economic data, including the personal consumption expenditures price index and labour market data including the monthly US payrolls report on Friday.
What to watch: Assistant RBA governor Christopher Kent to deliver a keynote speech on Australia’s External Position and the Evolution of the FX Markets at 12.05pm AEST.
