Company Interview / the open: ASX to set for positive start after mixed session on Wall Street

The Australian share market is set to start positive this morning, with ASX futures reading towards a 0.2% increase. This comes after a positive finish on Wall Street with the Dow gaining 114 points. The S&P 500 closed up 0.1%, whilst the Nasdaq declined 0.1%. In what was a mixed session on Wall Street, the S&P 500 was hampered by the megacaps. Companies consisting of Apple, Amazon, Meta and Microsoft, all of which are reporting this week, slipped around the middle of the trading day, prior to recovering slightly. Notably, Nvidia shares declined 2.1%. This comes after reports that China’s Huawei Technologies gears up to test a new chip in anticipation that it will be more powerful than Nvidia’s current products. Canadians headed to the polls, holding national elections to determine the next prime minister. This comes amidst further tensions with the US which were reignited last week, as Trump declared the probability of a 25% tariff on Canadian-made cars, as the U.S does not want them. Brent crude futures fell 1.5% to $66 a barrel, whilst copper is up around 1.5% and iron ore rose to $99 a ton.The Australian Dollar rose 2.1% to US64.28 cents, whilst Bitcoin halted at $94,500. Locally, the Dr. Christopher Kent will speak on behalf of the RBA, regarding Australia’s External Position and the Evolution of the FX Markets.