Wall Street recorded a third straight session of record high closes, as AI sentiment boosted the market. Shrugging off Trump’s weekend bombshell of $100,000 fees for future H-1B visas, which much of the sector relies on. Tech instead focused on news of Nvidia’s $100Bn investment into OpenAI, boosting the chipmaker by 3.9%, and Wedbush’s price target rise for Apple (+4.3%) given strong demand signs for the iPhone 17. S&P 500 up 0.4%, Nasdaq rose 0.7%. Dow steadily rose in the first hour of trading and remained stable at that level for the rest of the session. Closed toward high, up 66 points. Mixed sector performance. Utilities the standout, followed by Tech and REITS. At the opposite end, Staples and Cyclicals struggled, the latter weighed down by Amazon’s 1.7% drop.
ASX to rise. SPI futures up 17 points (+0.19%).
Resources mixed. Oil steady as Iraq shipments rise and demand concerns linger. Copper and zinc up, nickel and aluminium down.
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