The news: Australian shares are set to open higher after Wall Street extended its tech-led rally on Wednesday, with US indices touching two-week highs ahead of Nvidia\u2019s after-market quarterly results, as concerns over artificial intelligence disruption and costs eased on renewed optimism about the technology\u2019s potential benefits.<\/p>\n
The numbers: Updated at 7:48am AEDT:<\/p>\n
ASX futures: up 57 points to 9,137.Wall Street: Dow Jones up 0.64%, S&P 500 up 0.82% and the Nasdaq up 1.29%.Europe: CAC 40 up 0.47%, DAX up 0.76% and FTSE 100 up 1.18%.Spot gold: up 0.68% to USD5,176 per ounce.Oil prices: Brent up 0.13% to USD70.87\/bbl and US WTI down 0.25% to USD65.46\/bbl.AUD: up 0.89% at 71.20 US cents.Bitcoin: up 8.03% to USD69,177.<\/p>\n
The context: All three US major indices traded higher overnight, with AI-related names and software stocks continuing to rebound from Monday\u2019s sell-off, as markets brace for Nvidia\u2019s quarterly results.<\/p>\n
Nvidia\u2019s earnings are seen as a key test for the tech sector, amid questions over whether recent AI-related sell-offs have been overdone. The chipmaker is expected to report year-on-year earnings growth of 72.2% on revenue of USD66.2 billion, according to analysts polled by Reuters, as demand for AI infrastructure continues. Nvidia shares rose 2.19% ahead of its quarterly report.<\/p>\n
Investors also eyed other potential beneficiaries of the AI boom, with Western Digital, Palantir and Applied Materials rising 6.85%, 3.79% and 4.56% respectively. The S&P Software & Services index rebounded from its 23% year-to-date decline, outperformed with a 2.77% gain.<\/p>\n
Locally, Atlas Arteria, Karoon Energy, Cleanaway Waste Management, IDP Education, Ramsay Health Care, Qantas Airways and Super Retail Group are among companies to report earnings today.<\/p>\n","protected":false},"excerpt":{"rendered":"The news: Australian shares are set to open higher after Wall Street extended its tech-led rally on Wednesday,…\n","protected":false},"author":2,"featured_media":317199,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60,123],"class_list":["post-317198","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/317198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=317198"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/317198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/317199"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=317198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=317198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=317198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}