The news: Australian shares are poised to rise at the open after a mixed session on Wall Street, where Tesla led a selloff in tech stocks.
The numbers: Updated at 7:30am AEST:
ASX futures: up 18 points, or 0.21%, to 8,558Wall Street: Dow Jones up 0.91%, S&P 500 down 0.11%, and Nasdaq down 0.82%Europe: CAC 40 down 0.04%, DAX down 0.99%, and FTSE 100 up 0.28%Spot gold: up 1.08% to US$3,339 per ounceOil prices: Brent up 0.1% to US$67.18/bbl, and US WTI up 0.65% to US$65.53/bblAUD: down 0.03% to 65.81 US centsBitcoin: down 0.11% to US$105,836.
The context: The Dow Jones ended higher as the S&P 500 and Nasdaq fell after tech megacaps sold off following a bullish run in recent sessions.
Tesla shed 5.34% after US President Donald Trump threatened to withdraw US government subsidies from Elon Musk’s electric car company, as the public feud between the former allies resurfaced.
Nvidia (-2.97%), Meta Platforms (-2.56%) and Microsoft (-1.08%) were also among those to fall.
Meanwhile, new economic data supported the Federal Reserve’s patient stance on rate cuts, weighing on investor sentiment. US job openings in May reached the highest level since November last year.
However, speaking during a panel in Portugal, Fed chair Jerome Powell did not rule out the possibility of a July rate cut.
Elsewhere, Trump said he was not considering extending the 9 July deadline for countries to negotiate on US tariffs, easing market concerns over extended uncertainty.