Australian shares are set to open higher, bolstered by gains in New York as oil 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 50 points or 0.6 per cent to 8731 near 4.40am AEST. The S&P 500 rose 0.9 per cent as materials and information tech paced 10 of the 11 industry sectors higher. The Nasdaq Composite gained more than 1 per cent to reset its record high.<\/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 more than 13 per cent jump in Intel\u2019s shares. Apple advanced 2.5 per cent.<\/p>\n
The Philadelphia semiconductor index surged 4.7 per cent to a record high; it has leapt more than 50 per cent this year. Advanced Micro Devices rose more than 4 per cent; it\u2019s set to report quarterly results after the closing bell.<\/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 50 points or 0.6 per cent to 8731.
All US prices near 2.45pm New York time.<\/p>\n
AUD +0.3% to US71.88\u00a2Bitcoin +1.7% to $US81,519On Wall St: Dow +0.7% S&P +0.9% Nasdaq +1.1%VIX -0.98 to 17.31Gold +0.8% to $US4559.16 an ounceBrent oil -4.1% to $US109.79 a barrelIron ore +0.1% to $US108.50 a tonne10-year yield: US 4.42% 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