Australian shares are set to open higher, bolstered by gains in New York as oil briefly fell below $US110 a barrel after two senior Trump administration officials argued that Iran\u2019s latest violations did not break the ceasefire.<\/p>\n
ASX 200 futures were up 38 points or 0.4 per cent to 8719 near 6.10am AEST. The S&P 500 rose 0.8 per cent as materials and information tech paced all 11 industry sectors higher. The Nasdaq Composite gained 1.03 per cent, resetting its record high during the session.<\/p>\n
A report that Apple has held exploratory discussions about using Intel and Samsung Electronics to produce the main processors for its devices in the US triggered a 13 per cent jump in Intel\u2019s shares. Apple advanced 2.6 per cent.<\/p>\n
The Philadelphia semiconductor index surged 4.2 per cent ; it has leapt more than 50 per cent this year. Advanced Micro Devices rose 4 per cent; it\u2019s set to report quarterly results after the closing bell. Sandisk rose 12 per cent and Micron Technology rose 11.1 per cent.<\/p>\n
Palantir Technologies shed 6.9 per cent after boosting its revenue view, while missing US commercial sales estimates. PayPal Holdings sank 7.8 per cent after saying it\u2019s seeing trends at the lower end of its full-year outlook.<\/p>\n
US Defence Secretary Pete Hegseth and Gen. Dan Caine, the US military\u2019s top officer, told a news conference that Iran\u2019s renewed attacks hadn\u2019t reached the threshold of what Caine called \u201cmajor combat operations.\u201d He said Tuesday marked a \u201cquieter\u201d day in the strait.<\/p>\n
\u201cNo, the ceasefire is not over,\u201d Hegseth said, affirming Caine\u2019s assessment. They spoke before the latest attacks on the UAE.<\/p>\n
With AP<\/p>\n
Market highlights<\/p>\n
ASX 200 futures are pointing up 38 points or 0.4 per cent to 8719.
All US prices near 4.25pm New York time.<\/p>\n
AUD +0.2% to US71.84\u00a2Bitcoin +2% to $US81,589On Wall St: Dow +0.7% S&P +0.8% Nasdaq +1%VIX -0.84 to 17.45Gold +0.8% to $US4556.33 an ounceBrent oil -3.9% to $US110.11 a barrelIron ore +0.1% to $US108.50 a tonne10-year yield: US 4.43% Australia 4.97%Today\u2019s agenda<\/p>\n
Amcor is set to release results on Wednesday, while Rio Tinto is set to hold its annual general meeting.<\/p>\n
Top stories<\/p>\n
Struggling consumers bear the brunt of inflation, says business<\/a> | As the truce in the Middle East falters and interest rates rise, chief executives say more cost increases will trickle down, squeezing family budgets.<\/p>\n Bullock warns Chalmers on spending as interest rates rise to 4.35pc<\/a> | In an 8-1 vote, the RBA raised interest rates by 25 basis points for the third time this year, as Bullock cautioned Australians would be poorer due to inflation.<\/p>\n