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Good morning and a happy Wednesday. ASX200 futures tip the local market to reverse yesterday’s gains, down .5% around 8.30am Sydney time.
Microchip giant ASML tempered its expectations for demand through 2025 – in other words, challenging the AI thematic.
We’ve seen the AI thematic tested on the NASDAQ in a serious way twice already; with NVIDIA still strong, it’s unclear which tugging force will win.
Taiwanese TSMC releases earnings later this week.
At any rate, the NASDAQ fell -1% overnight and the S&P500 fell -0.76%.
On the ASX, Rio Tinto has revealed it shipped less iron ore from WA than analysts had predicted; Bank of Queensland has reduced its dividend from 21c to 17c.
In forex, the Aussie is buying 67 US cents.
Looking at commodities which are in the greenback,
Iron ore has eased to $106/tn in Singapore,
Brent has handed back gains down to $74 per barrel,
Gold is fetching $2,662 per ounce, and,
US natgas is at $2.48 per gigajoule.
That’s Market Open, I’m Jonathon Davidson, we’ll be with you later for HotCopper’s Market Update.
