ASX up 0.92% near noon following Wall Street's gains

Market Reports

by Peter Milios

At 11:30am, the S&P/ASX 200 is 0.92 per cent higher at 7,771.10, mirroring a continued surge in New York where Tesla and Apple led gains in the blue-chip technology sector. This trend reflects positive investor sentiment and strength in tech stocks influencing global markets.

Overnight, Wall Street saw the S&P 500 rise by 0.8% to reach 5473.23, while the Nasdaq Composite, driven by a 5.3% increase in Tesla and a 2% gain in Apple, gained 1% to close at 17,857.02. Additionally, the NYSE Fang + Index, comprising megacap tech stocks, concluded with a 1.8% increase.

The SPI futures are pointing to a rise of 60 points.

Best and worst performers

All sectors are in the black. The best-performing sector is Utilities, up 1.5 per cent. The sector with the fewest gains is Materials, up 0.12 per cent.

The best-performing large cap is Atlas Arteria (ASX:ALX), trading 3.83 per cent higher at $4.88. It is followed by shares in Macquarie Group (ASX:MQG) and ALS (ASX:ALQ).

The worst-performing large cap is Fortescue (ASX:FMG), trading 4.79 per cent lower at $21.88. It is followed by shares in ResMed (ASX:RMD) and Telix Pharmaceuticals (ASX:TLX).

Commodities and the dollar

Gold is trading at US$2335.10 an ounce.

Iron ore futures are pointing to a 0.79 per cent rise.

One Australian dollar is buying 66.15 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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