Company Interview / the open: flying high Friday

The ASX 200 is set to hit a new record high today with futures up 0.43%. It follows a positive session on global markets overnight, while the threat of US tariffs sent gold to a new record high.

Stocks on Wall Street rose as investors reacted to the latest earnings results. Apple reported after the bell and saw their overall revenue rise 4% in the first quarter. However, iPhone sales were weak due to Chinese competition and AI rollout issues. Microsoft fell after forecasting disappointing growth in its cloud computing business, while Meta rose after beating fourth-quarter revenue estimates.The CEOs of both Meta and Microsoft defended their heavy capex on artificial intelligence, days after Chinese startup DeepSeek unveiled a breakthrough in cheap AI models that rattled investors.Tesla shares rose after saying it was on track to roll out new, cheaper EV models in the first half of 2025. It also said it would start testing a paid autonomous car service in June, overshadowing quarterly results that fell short of expectations. UPS shares plummeted after forecasting 2025 revenue below expectations.Mastercard reported a fourth-quarter profit that beat estimates as consumers ramped up spending during the holiday season, while after the bell Visa reported a higher first-quarter profit.

The European Central Bank has cut rates by 25 basis points and opened the way for further policy easing on signs of economic weakness. It was the fifth ECB rate cut since last June with markets expecting two or three more cuts this year. ECB President Christine Lagarde saying the disinflation process is well on track.

The US dollar dipped against major currencies as markets on slower-than-expected U.S. economic growth and the rate cut by the ECB. The Aussie dollar has fallen to 62.

Locally today, we get further inflation data with December quarter producer prices. And quarterly results are expected from Champion Iron, Origin Energy, ResMed and Syrah Resources.