US Markets
The S&P 500 closed at a record high on Tuesday, gaining 0.24% to 6,129.58 after a last-second rally, despite global trade and inflation concerns.
The index hit an intraday high of 6,129.63, while the Nasdaq Composite edged up 0.07% to 20,041.26, and the Dow Jones Industrial Average added 0.02% to 44,556.34.
Energy led sector gains, rising 1.9%, with Halliburton and Valero Energy among the top performers, while tech stocks also moved higher.
Meta dropped nearly 4%, set to end a 20-day winning streak, while Intel jumped 15% on reports of a potential breakup involving Taiwan Semiconductor Manufacturing and Broadcom.
Australian Market
Australian shares are set for a muted open, with SPI futures pointing to a 2-point decline.
On the data front, attention will be on the fourth-quarter wage price index. The Reserve Bank of New Zealand is in focus, with markets widely expecting a 50-basis-point rate cut for the third consecutive meeting.
Company News
Earnings results due today include Cleanaway, Data#3, EBOS Group, Goodman Group, Hansen Technologies, Iluka Resources, James Hardie, MyState, The Lottery Corp, Santos, Stockland, Servcorp, Ventia Services, and Vicinity Centres.
National Australia Bank (ASX:NAB) reported first-quarter cash earnings of $1.74 billion, down 2% from the average of its previous two quarters, citing a decline in net interest margin due to higher funding costs and competition.
Corporate Travel’s (ASX:CTD) first-half profit dropped by a third to $38.7 million due to European division challenges, with revenue down 6% to $342.8 million, a reduced 10c interim dividend, and a $52.3 million share buyback, while a stronger second half is expected with stabilising ticket prices and UK spending clarity.
Fletcher Building’s (ASX:FBU) first-half revenue fell 7% to $3.6 billion, with net loss widening to $134 million and earnings down $96 million to $167 million, as it faced weak demand, competition, and inflation, while continuing cost-cutting and governance reforms.
Westgold Resources (ASX:WGX) is advancing synergies from its $2.5 billion merger with Karora Resources by selling the Lakewood Mill gold processing facility, with a buyer expected to be announced next month.
