Australian shares are set to rise. Nvidia leaps 13pc. Meta rallies after its results beat expectations. War risks bolster crude. Follow updates here.
Australian shares are poised to rise after the US Federal Reserve confirmed a September rate cut was “on the table” but kept rates on hold at its meeting overnight. ASX futures up 17 points or 0.2 per cent to 8078 near 7am AEST, putting them on track to extend a record high touched yesterday after cooling core inflation figures sent a wave of rate relief through the index.
The world’s third-most-valuable company added a single-session record $US329 billion in value. Its stock had tumbled 7 per cent the previous session. JPMorgan issued a bullish call on the company. Meta Platform rallied more than 4 per cent after the closing bell. It reported better-than-expected sales for the second quarter, offering evidence that the company’s heavy investments in artificial intelligence are helping it sell more targeted and personalised advertisements.
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