US Market
US stock market futures climbed as Donald Trump was sworn in for a second term as president, with investors optimistic that a series of immediate actions from him would boost the economy, particularly in sectors like banking and energy.
Although regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King Day holiday, limited futures trading continued.
Dow Jones Industrial Average futures rose 167 points, or 0.4%. S&P 500 futures increased by 0.4%, while Nasdaq-100 futures gained 0.4%.
Commodities and Bitcoin
Oil prices and Bitcoin experienced declines, potentially reflecting investor caution and profit-taking after recent rallies. The price of oil fell 1.1% to $79.91 per barrel, while Bitcoin dropped to $103,635.
US Dollar and Australian Dollar
The US dollar weakened against other major currencies, providing a boost to the Australian dollar. This currency movement could impact Australian companies with international operations.
ASX Outlook
Australian shares are set to open higher today as traders assessed the market’s response to policy announcements made on Donald Trump’s first day in office.
S&P/ASX 200 futures are pointing 0.3 per cent rise.
Australian Corporate News
Optus is considering selling its sports streaming platform to Nine Entertainment, a move that could reshape the Australian sports broadcasting landscape.
Key Data and Events
Weekly consumer confidence data and quarterly updates from resources companies like BHP, Yancoal, Liontown Resources, Northern Star Resources and HUB24.