Good morning, and welcome to the ABC’s finance blog! I’ll be guiding you through the latest market action for the next few hours.<\/p>\n
It looks like the\u00a0local share market\u00a0will start its day slightly higher.\u00a0ASX futures,\u00a0which are a rough indicator of how the market may open, have risen by about 0.2%.<\/p>\n
The\u00a0Australian dollar\u00a0is hovering just below 70 US cents.<\/p>\n
Oil prices jumped to a five-week high, with\u00a0Brent crude futures\u00a0up 2.5% to $US91.41 per barrel.<\/p>\n
Despite that, Wall Street finished trading higher as beaten-down tech and semiconductor stocks rebounded sharply ahead of Google’s parent company Alphabet, Tesla and Intel reporting their earnings later this week.<\/p>\n
Investors are keen to find out whether the ‘AI trade’ has more room to run, given sky-high profit expectations for the June quarter and beyond.<\/p>\n
The Dow Jones Industrial Average rose 0.7% to 52,225 points, the S&P 500 lifted 0.9% to 7,509 points and the Nasdaq Composite gained 1.3%, to 25,837 points.<\/p>\n
Some of the notable gains were Sandisk (+14.3%), Western Digital (+12.5%) and Micron Technology (+12.2%).<\/p>\n
Anyway, please grab a coffee, tea or whatever you normally have in the morning, and I’ll have more updates for you shortly!<\/p>\n","protected":false},"excerpt":{"rendered":"Good morning, and welcome to the ABC’s finance blog! I’ll be guiding you through the latest market action…\n","protected":false},"author":2,"featured_media":815358,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2001,64,29217,63,99,2003,2005,5284,171,2007,19136,2008,5463,29218,1491],"class_list":["post-815357","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-asx","tag-au","tag-aud","tag-australia","tag-business","tag-dollar","tag-dow-jones","tag-gold","tag-markets","tag-nasdaq","tag-oil","tag-sp","tag-sp-500","tag-usd","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/815357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=815357"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/815357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/815358"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=815357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=815357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=815357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}