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The ASX200 is set to open nearly a third of a percent lower (0.27%) despite a strong performance on Wall Street overnight, which was itself underpinned by Big Tech earnings.
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The Dow Jones lifted by 70 points on Thursday, while the S&P 500 rose 0.6% and the Nasdaq Composite soared 1%. Microsoft was one of the best performing tech stocks – with a rise of 7.4% – after not only going beyond top- and bottom-line estimates but raising its Azure guidance which provided investors with confidence on the question of AI-led growth, while Meta was up 4.3% after revealing stronger-than-expected Q1 revenue.
On the ASX, Solstice Minerals Ltd (ASX:SLS) is set to commence reverse circulation drilling at its Edjudina Range gold discovery in Western Australia, Metalstech Ltd (ASX:MTC) has raised $1.3 million through the first tranche of a Strategic Placement, and Capstone Copper Corp (ASX:CSC) has reported its results for the first quarter, with this including an adjusted EBITDA which doubled to $179.9 million compared to $80.1M in the first quarter of 2024, due to a rise in sulphide copper production and stronger pricing for that commodity.
To commodities – all in US $ here: Iron ore is $95.20 on the Singapore Exchange, gold’s trading at $3238, Brent crude is $61.64 & natural gas is $3.43 a gigajoule.
One Aussie dollar is buying 63.8 US cents.
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