Australian shares are set to close the week on a positive note. In New York, the Dow leapt more than 1.5 per cent to reset its record high, propelled higher by UnitedHealth, Goldman Sachs and Merck. ASX 200 futures were up 31 points or 0.4 per cent to 8722 near 3.45am AEST. The S&P 500 rose 0.5 per cent, paced by health care, financials and communication services. Broadcom plunged at the open despite reporting stellar quarterly results the previous evening as it failed to meet
expectations for an even more optimistic outlook. The shares pared their losses to 11 per cent near 2pm. Market highlights ASX 200 futures are pointing up 31 points or 0.4 per cent to 8722.All US prices near 2pm New York time. AUD +0.2% to US71.40¢Bitcoin -3.9% to $US63,348On Wall St: Dow +1.6% S&P +0.5% Nasdaq +0.2%VIX +/-. to .Gold +1% to $US4478.35 an ounceBrent oil -3.2% to $US94.70 a barrelIron ore -2% to $US101.60 a tonne10-year yield: US 4.47% Australia 4.91% Today’s agenda Fireside chat
with Andrew Hauser, RBA deputy governor, at Australia’s Economic Outlook hosted by Sky News and The Australian in Sydney at 2.30pm. At 10.30pm, the US will release its May jobs report. Top stories Commonwealth Bank offers staff cash incentive for hiring drive| The nation’s biggest lender has been looking to grow its private banking division after rolling out a new wealth platform last year. Canberra Observed: Threat or no threat, now is not the time for ‘the economics of love’ | The Albanese government must
resist the temptation to roll out more largesse to stave off the One Nation threat. ‘Nonsense’: Scott Farquhar AI claims mauled by music industry | The Tech Council chair’s argument that copyright law was unworkable for AI training has been rubbished, including by the songwriters’ body that counts his wife as a member. Half of unfair dismissal claims are written using AI, Senate told | A Fair Work Commission study found a huge proportion of applicants are using the technology, as employers warn more must
be done to stop the tsunami of claims. UK bans Lex Greensill from being company director for nine years | The Australian businessman has been banned from company directorship after the spectacular collapse of his financing firm Greensill Capital.
ASX 200, ASX 200 futures, Dow record high, Broadcom, UnitedHealth, Goldman Sachs, Merck, S&P 500, Nasdaq, RBA deputy governor Andrew Hauser, May jobs report, Commonwealth Bank hiring incentive, One Nation threat, Scott Farquhar AI, Fair Work Commission AI claims, Lex Greensill
Broadcom dropped even though results were stellar?? Sounds like the market is always mad for no reason.
Wait so the Dow is at a record but tech mood is still dented. How can both be true lol. Also Bitcoin down like that always makes me feel like something bigger is coming.
“Half of unfair dismissal claims are written using AI” but then they say employers warn more must be done. So like… should HR just stop hiring people who can type? Kinda confused how that fixes anything.
Scott Farquhar getting dunked on for AI claims by the music industry… doesn’t surprise me. Every time AI comes up someone’s rights get yelled about. And then Broadcom tumbles at open like they deserved it even though it said stellar quarter? idk maybe outlook was the real issue but markets already act irrational.