Company Interview / the open: ASX to climb, Bitcoin reaches record

Australian shares are poised to rise, with ASX futures pointing up 0.3 per cent. This follows a cautious rebound on Wall Street after the sharp sell-off in U.S. government bonds began to ease. 

US dollar and equities rose slightly after the US tax bill was passed in the House. President Trump’s bill was passed, delivering new tax breaks on tips and car loans, and will further add about $3.8 trillion to the federal government's debt over the next decade, according to the US Budget Office. 

The benchmark S&P 500 and the Dow Jones Industrial Average ended flat, while the Nasdaq edged higher. All three had posted their biggest single-day percentage drops in a month in the previous session. Meanwhile, US crypto firms rose after Bitcoin hit record highs, reaching above $US111,000.

 Onto commodities, oil prices are at a four-year low, with Brent crude futures falling 1% to $64. Iron ore fell 0.7% to $100, and gold fell 0.7%, whilst Copper had a slight rise of 1%. 

Looking to the day ahead, while there is no Australia data on Friday’s calendar, New Zealand is set to release first-quarter retail sales volumes, which are expected to be, “broadly flat” according to NAB.