Australian shares to start lower, Wall Street mixed
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The news: The Australian sharemarket is set to open lower as investors take cues from a mixed performance on Wall Street, where technology shares proved to be a drag.
The numbers: Updated at 7.25am AEDT:
- ASX futures: down 47 points or 0.57% at 8,233 points
- Wall Street: Dow Jones up 0.37%, S&P 500 down 0.09%, Nasdaq down 0.45%
- Europe: FTSE 100 unchanged, CAC 40 down 0.78%, DAX up 0.62%
- Spot gold: up 0.43% to USD2,948.53 per ounce
- Oil prices: Brent up 0.30% to USD74.65/ barrel, US WTI up 0.30% to USD70.61/bbl
- AUD: down 0.23% at 63.51 US cents
- Bitcoin: down 2.19% to USD94,193.18.
The context: The three major US stock indices were mixed in choppy trading, as investors await results from chip giant Nvidia later in the week for clues on demand for artificial intelligence technology.
An analyst report said Microsoft scrapped leases for sizeable data centre capacity in the US, suggesting a potential oversupply of AI infrastructure and adding to uncertainty.
Investors are also more anxious about economic growth after last week's batch of weak economic data and a disappointing forecast from Walmart, along with worries about tariffs and inflation.
What to watch: Earnings from Nine Entertainment (~8:20am), Viva Energy (~8:30am), Zip Co (~9:00am), Woodside (~9:10am), Domino’s Pizza (~9:15am), Light & Wonder (~9:15am), Platinum Asset Management, and Dalrymple Bay Infrastructure, among others.
The source: Bloomberg
