Oracle, Nvidia Lead Tech Stocks Higher: ASX to dip
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US stocks rose on Wednesday, with the S&P 500 reaching a new all-time high, driven by rallies in technology stocks like Oracle and Nvidia, fueled by optimism surrounding artificial intelligence and President Donald Trump’s new term in office.
The S&P 500 climbed 0.61% to close at 6,086.37, just shy of its all-time closing peak. The Nasdaq Composite surged 1.28% to 20,009.34, reflecting the strong performance of tech stocks. Meanwhile, the Dow Jones Industrial Average gained 130.92 points, or 0.3%, to 44,156.73, with Procter & Gamble rising nearly 2% following strong earnings results.
Netflix posted strong quarterly results. The streaming giant exceeded expectations, leading to a surge in its stock price.
Oracle benefited from the continued interest in AI.
Elsewhere, gold reached its highest intraday level since October. Bitcoin, however, saw a slight dip, dropping by 2.7 percent to a low of $US103,431 before paring back some losses.
Looking the local market, The SPI futures are pointing to a negative start, down 0.42%
There are number of companies releasing their quarterly reports today including Alcoa, Fortescue Metals, Core Lithium, Regis Resources, Santos, Westgold Resources, Karoon Energy, Coronado Global Resources, Netwealth, and Insignia Financial.
Investors are also keenly awaiting the outcome of the shareholder vote on Myer’s proposed merger with Premier Investments’ Apparel Brands.
Contact Energy has entered into a contract with major New Zealand gas supplier OMV for the supply of natural gas from the Pohokura field from 2026 to 2032.
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Source: Finance News Network
