Company Interview / the open: ASX to open flat before Tuesday’s rate decision

The local market is set for a flat opening to begin the week with ASX futures up 5 points. This comes as US stocks ended higher and the Nasdaq notched another record closing high as tech-related shares gained. 

Apple shares climbed to be up more than 13% for the week after President Trump said Apple would invest an additional $100 billion in the US, bringing its total commitment to $600 billion over the next four years. 

The Reserve Bank is expected to cut the cash rate tomorrow for the third time this year as inflation remains within the bank's target band, with core inflation slowing to 2.7% in the June quarter. 

The US dollar firmed on Friday but was lower on the week as weakening economic data leads traders to price in the probability of more interest rate cuts this year. And the Australian dollar held steady, trading at US65.2c.