ASX Today: Australian Shares Set to Open Higher as Wall Street Hits Fresh Records
Synopsis
Australian shares are expected to open higher after a strong overnight rally on Wall Street boosted global investor sentiment. The S&P/ASX 200 ended Thursday slightly higher, while ASX futures climbed 0.6% following record intraday highs for the S&P 500 and Nasdaq Composite in the US. Technology stocks led gains across global markets, supporting optimism for the local session ahead. Investors will also watch commodity prices, bond yields and key sectors including mining, energy and artificial intelligence-linked stocks as trading resumes on the ASX today amid improving market confidence overall.
The ASX is set to rise today as a positive Wall Street session lifts major US indices higher. Futures are lifted by strong technology stocks and better investor sentiment. At the same time, the ASX 200 finished a touch higher on Thursday during a volatile week for markets.
Key Pointers
- ASX 200 futures rose 49 points or 0.6% to 8720.
- US futures were up, with the S&P 500 and Nasdaq reaching fresh intraday highs.
- The biggest ASX winners were Megaport Limited and 4DMedical Limited.
- Tech-led gains on Wall St overnight
ASX Finished Higher After A Weak Week
On Thursday, the S&P/ASX 200 increased by 0.12% to settle at 8,640.70. While it has lost 2.67% over the last five sessions, rallies in some large-cap growth and technology companies gave an assist to investors.
Megaport Limited (MP1) was one of the strong performers, up 27.72%, and also 4DMedical Limited (4DX). On the other hand, the wider market is largely unchanged for the year to date.
Tipping ASX to open higher following Wall Street rally on Friday
Australian shares set to lift after a rally on Wall Street overnight. All three main US benchmarks were in the green, with new intraday highs seen on the S&P 500 and the Nasdaq Composite.
The Dow Jones also edged closer to all-time territory, closing the session only 0.3% shy of its record point high. Optimism from investors was led mainly by technology stocks, and had also pushed global market sentiment higher overnight and ASX futures were pointing to gains ahead
The ASX Market: What To Watch Today
Today investors will be looking at the US markets overnight as they had all good numbers on Friday. Attention may shift back to tech and growth stocks as the Nasdaq Composite and S&P 500 both had another record-setting session.
With global risk appetite poised to improve the focus will turn towards stocks related to artificial intelligence, mining and energy.
FAQs
- Which ASX stocks performed best?
The List of Top Gainers Megaport Limited and 4DMedical Limited.
- How was the US overnight Market performance?
The S&P 500 and Nasdaq both hit intraday records, along with gains in the Dow Jones.
- The ASX had a solid week, how did it fare?
Since then, the ASX 200 has retreated steadily in a 2.67% decline over five trading days.
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