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Australian shares are tipped to open mostly flat this Thursday morning, with futures up just 0.12% before the bell as traders mull what Nvidia’s “important results” really mean — and whether it’s truly a ‘buy’ signal.
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Chipmaking giant Nvidia, which stands as one of the key Magnificent Seven members, added more than 5% after reporting a 69% jump in first quarter sales — to US$44.1 billion — but the S&P 500 and Nasdaq closed a little lower.
Considering the ASX slowly slumped into the red Oz close yesterday, though, this slight uptick into the green should be a welcome sign for some Aussie traders.
Also at home, today should see the ACCC’s verdict on the sector-shaking Elders (ASX:ELD)-Deltra Agribusiness buyout; the $475 million deal, first announced in late November, would see the two competitors join forces in most regional towns.
Develop Global (ASX:DVP) is catching eyes on HotCopper forums after the explorer started “substantial earthworks” at Sulphur Springs in Western Australia’s Pilbara.
Also trending is Hot Chili (ASX:HCH) after new porphyry targets were spotted at La Verde.
Early focus stays on gas heavyweight Woodside Energy (ASX:WDS) — and energy rivals like Whitehaven Coal (ASX:WHC) and Paladin Energy (ASX:PDN) — today too, after the North West Shelf victory yesterday. Woodside climbed as much as +3.2%, to $22.12/sh, after the decades-long extension was stamped.
And, Champion Iron (ASX:CIA), Goodman Property Trust (ASX:GMG), and Select Harvests (ASX:SHV) are among the Aussie companies reporting today too.
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Looking at forex, the Aussie dollar is buying 64.2 US cents.
To commodities, which are in the greenback,
Iron Ore has continued its slump to sell at $95 a tonne in Singapore,
Brent Crude is selling at around $64.87 a barrel,
Gold is trading at $3,293 per ounce, and,
US natgas futures slumped 5.5%, to $3.54 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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