Australian shares to drop. BHP deadline fast approaching. US equities dented by mediocre debt sales. The Magnificent One powers ever higher.
Australian shares are poised to drop at the open, tracking weakness in New York after two uninspired US government bond auctions. Nvidia leapt more than 7 per cent, pacing the Nasdaq Composite to its first-ever close above 17,000 points.“It’s all about technology and the winners continue to be the winners, specifically Nvidia,” Michael James, managing director of equity trading at Wedbush Securities in Los Angeles, told Reuters.
Apple shares rose after iPhone sales in China surged 52 per cent in April from a year earlier, Reuters calculations based on industry data showed. The stock ended the session flat. “Year-ahead inflation expectations edged up slightly to 5.4 per cent from 5.3 per cent, but they remain lower than where they were a year ago,” Oxford’s Grace Zwemmer said in a note.
Nvidia rose as high as $US1149.39 in New York trading overnight. That temporarily lifted its founder and CEO Jensen Huang’s wealth to more than $US100 billion.
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