ASX down 0.18%: Nvidia exceeds Wall Street expectations

Market Reports

by Peter Milios

Nvidia's shares surged by 8.7% after hours on Wall Street as the company exceeded sell-side analysts' expectations, with its AI sector performance bolstering investor confidence. Meanwhile, the recent release of US Federal Reserve meeting minutes reaffirmed policymakers' caution towards interest rate reductions.

At 11:30am, the S&P/ASX 200 is 0.18 per cent lower at 7,594.50.

Best and worst performers

The best-performing sector is Utilities, up 1.00 per cent. The worst-performing sector is Consumer Discretionary, down 1.09 per cent.

The best-performing large cap is Infratil (ASX:IFT), trading 2.95 per cent higher at $9.78. It is followed by shares in Mineral Resources (ASX:MIN) and Fortescue (ASX:FMG).

The worst-performing large cap is Medibank Private (ASX:MPL), trading 5.31 per cent lower at $3.655. It is followed by shares in Aristocrat Leisure (ASX:ALL) and Bendigo and Adelaide Bank (ASX:BEN).

Commodities and the dollar

Gold is trading at US$2035.40 an ounce.

Iron ore is 1.6 per cent lower at US$120.0 a tonne.

Iron ore futures are pointing to a 0.6 per cent fall.

One Australian dollar is buying 65.55 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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