Australian shares are set to open higher. The S&P 500 is on track to reset its closing record. The Stoxx 600 rallied to a record as did Japan’s Nikkei.
Already a subscriber?Australian shares are poised to open higher, spurred by enthusiasm on Wall Street as well as in Europe and Japan after Nvidia’s quarterly results and outlook exceeded expectations.
“Few things are more certain than death, taxes, and Nvidia beats on earnings,” Carson Group’s Ryan Detrick said. “The bar was set quite high, and incredibly they’ve once again stepped up and hit a home run.” The MSCI ACWI Index of both developed and emerging-market shares headed toward its highest level ever.Near 3.30pm in New York, the S&P 500 was 2.2 per cent higher to 5089.61. The Nasdaq Composite was 3 per cent higher. The Dow had added more than 450 points. The Nasdaq edged above 16,000 points; the Dow cleared 39,000.
Still, there are some analysts who think the stock is near a top or simply has risen too fast. JPMorgan reportedly has a $US795 target price, Deutsche Bank is at $US720, and DA Davidson is at $US620. UBS reportedly trimmed its target to $US800 from $US850. AMA Group | Arcadium Lithium | Aussie Broadband | Bapcor | Brambles | Jumbo Interactive | Latitude | Monash IVF | PEXA | Sandfire | Yancoal, the world’s top gold producer is seeking to sell six mines and two projects as part of an effort to generate $3.1 billion in cash. Among the assets to be sold are the Telfer and Havieron mines in WA.AUD +0.1% to 65.55 US centsIn New York: BHP +0.9% Rio +0.2% Atlassian +1.1%Arm Holdings +7.2% AMD +11.2% Super Micro +35.5%Spot gold -0.2% to $US2022.
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