TMH Market Open: ASX200 set for positive start in November

November’s set to launch with a positive day for the Aussie share market, with ASX futures predicting nearly half a per cent lift.

The US indices all performed well in the overnight trading session with the NASDAQ leading the way, up nearly 1.5 per cent.

Tesla shares are up nearly two per cent despite some nervousness because founder Elon Musk appeared on The Joe Rogan Experience broadcast.

In 2018, when Musk last appeared on the podcast, which can attract some 190 million downloads a month, he and the controversial host and UFC commentator Joe Rogan sipped whisky and smoked cannabis, sending Tesla stock plummeting nine per cent. The podcast was released one hour after market close, and Tesla is still up, although that’s mostly due to a jury in California finding that Tesla autopilot technology did not cause the death of a driver.

Chip maker Nvidia shed as much as 5 per cent during trade, but closed down a per cent after revealing the company may be forced to cancel up to US$5 billion worth of advanced chip orders to China due to US government restrictions.

And the Eurozone recorded a drop in annual inflation from 3.1 per cent to 2.9 per cent – marking its lowest level since mid-2021. This was achieved thanks to falls in energy and food prices.

Back home: BHP will also host its AGM this morning in Adelaide.

The Commonwealth Bank of Australia reported a reduction in its mortgage portfolio for the third consecutive month. The decline’s been most notable for the bank’s home loan book.

And the future of the planned $18.7 billion acquisition of Origin Energy by Brookfield and partner EIG is uncertain as the largest shareholder, AustralianSuper, intends to oppose the acquisition by the North American consortium. So that’ll be one to watch today – Origin has traded up since the bid was lodged and last traded at $9.13.

The Aussie dollar has been buying 63 US cents.

Iron ore has dipped .4 per cent to $122 a tonne, Crude oil is down 1.2 per cent to just above $81, gold’s shed .6 per cent to US$1983 and natural gas has soared nearly 7.5 per cent thanks to a cold snap in the northern hemisphere to trade at $3.60.