Australian shares are set to open lower. Wall Street advanced, helped by a more than 5 per cent surge in Apple on reports that the iPhone has eased tensions with the Trump administration.
The White House said the iPhone maker will commit to investing an additional $US100 billion into its US business. In addition, there were reports iPhones will avert new tariffs on imports from India.
Apple surged 5.1 per cent, lifting its market cap back above the $US3 trillion mark. Amazon rallied 4 per cent. Tesla gained 3.6 per cent.
President Donald Trump said he’s going to increase tariffs on India to 50 per cent, from 25 per cent because India refuses to stop buying oil from Russia. India says it needs the oil for its national security.
Market highlights
ASX 200 futures are pointing down 27 points or 0.3 per cent to 8779.
All US prices near 4.15pm New York time.
AUD +0.5% to US65.03¢Bitcoin +1.1% to $US115,247On Wall St: Dow +0.2% S&P +0.7% Nasdaq +1.2%VIX -1.14 to 16.71Gold -0.3% to $US3369.45 an ounceBrent oil -1.5% to $US66.61 a barrelIron ore -0.5% to $US101.95 a tonne10-year yield: US 4.23% Australia 4.25%Today’s agenda
AMP and Light & Wonder are set to report results on Thursday.
The June trade balance is scheduled for 11.30am. Across the Tasman, the RBNZ’s third-quarter Survey of Expectations will be most closely followed for its inflation expectations components.
Overseas, the Bank of England is widely expected to cut its key rate by 25 basis points. China is set to release its July trade balance.
Top stories
ASX under fire after ‘ridiculous’ $400m TPG mix-up | A major investor has slammed the “continuing saga” within the exchange operator after it confused the telco with a private equity firm.
Trump lifts tariff on India to 50pc over Russian oil buys | A spokesperson for India’s Ministry of External Affairs called the US president’s announcement “unfair, unjustified and unreasonable”.
Rio moves to cut FIFO workers’ three months of sick leave | Mining unions leapt on the proposal as a reason workers should organise, but Rio Tinto says long sick leave puts pressure on those who stay on the job.
Chanticleer: Game-changer to graveyard: demise of the equity-raising golden child | While the focus is on jamming out more IPOs more quickly, shareholder rights in secondary raisings are going backwards. It warrants attention.