ASX to fall, Nvidia lifts Nasdaq Composite to record high
Shares in Nvidia were more than 4 per cent higher in afternoon trade, pacing the Nasdaq Composite to a record high. The Trump administration granted the company the right to sell advanced computer chips used to develop artificial intelligence to Chinese customers.
Should gains on the Nasdaq hold, it would be the fourth session in five that the technology-heavy index has posted a record close, and the eighth time since June 27, Reuters said.
Market highlights
ASX futures are pointing down 44 points or 0.5 per cent to 8567.
All US prices as near 2.15pm New York time.
Today's agenda
Quarterly reports are expected on Wednesday from Rio Tinto, Evolution Mining and Amplitude Energy. There is no local data on the schedule.
Overseas, the focus is on US PPI data to be released at 10.30pm.
The prime minister continues his official visit to China. Nvidia boss Jensen Huang is expected to speak at an industry event in China, shortly after the company received approval to renew sales to Chinese customers.
Top stories
US inflation rises as Trump's tariffs lift prices | Consumer prices rose 2.7 per cent in June from a year earlier, while core CPI increased 2.9 per cent, challenging President Trump's low inflation narrative.
Fix green laws before tax to create growth: Ken Henry | Revamping Australia's broken environment laws will do more for our ailing productivity than tax reform, the former Treasury secretary says.
| Chinese President Xi Jinping has told the prime minister international turbulence shouldn't be allowed to derail improvements in the China-Australia relationship.
| The view inside the boardroom is that the company has become too complex. Its new chief executive will be tasked with changing that.
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