Company Interview / the open: ASX to fall, S&P 500 and Nasdaq reset gains

The local market looks set to add to yesterday’s losses with ASX futures pointing down 0.4%, as the S&P 500 and Nasdaq again reached new record high closes. 

Nvidia and Amazon led gains among the ‘Magnificent Seven’ stocks. Alphabet also finished higher, though it pulled back from its intraday peak after reporting earnings that suggest its hefty investments in artificial intelligence are beginning to deliver returns.

Britain and India have signed a free trade agreement which will cut tariffs on goods from textiles to whisky and cars and allow more market access for businesses. The agreement between the world's fifth and sixth largest economies aims to increase bilateral trade by a further US$34 billion by 2040. 

The US dollar traded sideways against the Euro after the European Central Bank held rates steady. The Aussie dollar is at US65.9c