AI investment boom powers US business spending
Oil slips as Iran diplomacy picks up and Israelis cast votes
Before the bell: ASX to open steady
Australian shares are set to open steady, as traders await the release of quarterly inflation data that will be pivotal in determining whether the Reserve Bank is forced to raise the cash rate to an 18-year high.
S & P/ASX 200 futures were up 1 point, or 0.01 per cent, to 8867 near 4am (AEDT).
The outcome of the Israeli election will also be weighing on investors’ minds. Polls close at 7am AEDT, in a contest which will have a significant bearing on the likelihood of escalation in the war with Iran.
Wall Street pushed higher, led by technology stocks which gained on optimism about earnings reports later this week from artificial intelligence giants Alphabet, Amazon and Microsoft.
The Philadelphia Semiconductor Index gained more than 3 per cent. The Nasdaq was up 1.2 per cent.
