Join our daily newsletter At The Bell to receive exclusive market insights
ASX today – Hump day may see little action for Australian shares, with some traders shellshocked by yesterday’s $60 billion selloff (the largest since Trump’s Liberation Day dives) and others battening down the hatches before the long-awaited Nvidia results coming on Thursday morning (Aus).
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
ASX futures are now pointing to the barest of gains, up just under five points for a +0.05% advance, as everyone halts to take stock of the week.
The biggest talking point – which will be supercharged either way by Nvidia’s earnings release – is that global markets may have got a little too overhyped by the artificial intelligence wave and “overpriced everything.”
Wall Street certainly thinks so: It’s down again through today, with the Dow Jones leading bourse losses at -0.9%. The Nasdaq was close behind, -0.88%.
That leaves the U.S. down a fourth day in a row under crash concerns.
Twenty-four hours to Nvidia, though, so let’s look at today’s company news now.
ASX stocks to watch
CSL Ltd (ASX:CSL) is investing $2.3 billion in expanding its U.S. manufacturing facilities through the next half-decade, to 2030, in a major move it hopes will let it dodge the majority of Trump tariffs long-term.
New Zealand’s bourse is considering a muscle-in move on the ASX, with the Wellington exchange exploring a potential purchase of Cboe Australia.
Elsewhere, Kathmandu and Rip Curl owner KMD Brands (ASX:KMD) has seen group sales hiked 7.9% year-on-year on “early stage momentum.” Rip Curl was the group’s best performer, up +6.6%, while Oboz fell -1.3%
Nufarm (ASX:NUF) and Webjet (ASX:WEB) are reporting today, too.
Buck and ore
Now – in forex, the Oz dollar buys 65.1 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore has stayed flat at $104.45 a tonne in Singapore,
Brent Crude advanced +1%, to $64.87/bbl,
Gold has hovered much the same today, selling at $4,072 an ounce, and,
US natgas futures bounced back a little, to $4.38 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)