Australian shares are expected to open higher after U.S. stocks surged to new records, driven by gains in the tech sector. ASX futures rose 0.44%, or 37 points, by 8:00 a.m. on Tuesday, signalling a positive start.
Nvidia’s continued strength helped push both the S&P 500 and the Dow Jones Industrial Average to fresh highs at the start of the week. Investor optimism has been fueled by a series of positive developments, with excitement surrounding artificial intelligence once again boosting major indexes on Monday. The S&P 500 gained 0.8%, the Nasdaq rose 0.9%, and the Dow Jones climbed 0.5%.
In commodity markets, Brent crude oil fell 1.8% to US$77.60 per barrel, and gold slipped 0.4% to US$2,647.39.
The Australian dollar was trading at 67.22 US cents, down from its previous close of 67.49.