5 days ago
- Business
- AU Financial Review
ASX to edge up, Nvidia's latest quarterly results awaited
Australian shares are set for a modest opening advance, with US equities trading in a mixed narrow range. A sale of five-year US government notes drew solid demand. All eyes are focused on Nvidia's pending results.
Nvidia was 0.8 per cent higher at 2.30pm in New York, with investors awaiting the release of its quarterly results after the market's close.
'Nvidia really needs to woo investors today if the magnificent seven stocks wish to continue their month-long bender,' Fundstrat Global economic strategist Hardika Singh said. 'And any backup dancer energy will not cut it.'
'What Nvidia's executives says about restrictions for chips sold in the Chinese market and how the company plans to navigate tariffs could set the broader tone for markets in the upcoming weeks,' she also said.
Market highlights
ASX futures are pointing up 6 points or 0.1 per cent to 8423.
All US prices near 2.30pm New York time.
Today's agenda
It's a relatively light day for data with private capital expenditure at 11.30am. Overseas, the US will release weekly initial jobless claims and the second estimate of first-quarter GDP.
The ACCC is expected to release its decision on Elders' proposed $475 million buyout of rival Delta Agribusiness, first announced in November.
Results are expected on Thursday from Select Harvests, Champion Iron, Goodman Property Trust, Mainfreight and Ryman Healthcare.
Top stories
| Word of an investigation by the competition watchdog spread quickly in the real estate sector days after REA introduced new price rises.
Chanticleer: North West Shelf approval is welcome dose of energy reality | The national conversation around gas has changed in the past year, Woodside boss Meg O'Neill says. Labor listened – eventually.
Watt makes the only choice on Woodside | A new environment minister has finally granted a decades-long extension for operation of the vital North West Shelf project. But the fights over gas won't stop, writes Jennifer Hewett.
Super tax change is 'hard reform': Treasury boss | Tax experts challenged Steven Kennedy's contention that the increased tax on superannuation was a serious reform, likening it to a hasty revenue grab.
