Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 is set to rise about 0.4% at open today, boosted by news from US markets and a stronger iron ore price.
That’s a better performance than on US markets where investors played with caution before AI demand insights came from Micron Techology’s earnings drop. That report came after the close and exceeded expectations.
Prior to that, the S&P 500 dropped 0.2% and the Dow Jones by 0.7% with energy stocks leading the falls.
Tech stocks rallied and the Nasdaq was just slightly ahead.
Back home, Labour Force data is due out from the bureau of statistics today.
Investment house Washington H. Soul Pattinson (ASX:SOL), has reported FY24 net profit down nearly 28 per cent to $498.8 million.
It has holdings in companies including TPG Telecom and Brickworks.
And Condor Energy (ASX:CND) has appointed petroleum engineer Serge Hayon as its new MD, replacing Ricardo Garzon Rangal, who will remain on the board.
Commodities
Iron ore’s up 1.75% at $96.40 on the Singapore Exchange thanks to China’s latest stimulus plans earlier this week.
Gold is still strong at $2657.20, brent crude has been trading around $73.35 a barrel, natural gas is up nearly 3.5% firmly above $2.60 a gigajoule ($2.64).
One Australia dollar is buying US68.2 cents.
-1200x645-380x200.jpg)