US Markets
The S&P 500 hit a new record on Wednesday, rising 0.24% to 6,144.15 for its second consecutive all-time high. The Nasdaq added 0.07% to 20,056.25, while the Dow gained 71.25 points to close at 44,627.59.
Microsoft rose 1.3% after unveiling its first quantum computing chip, while Tesla climbed nearly 2%. Analog Devices surged 10% on strong earnings.
Meanwhile, President Trump suggested a 25% tariff on imported autos, chips, and pharmaceuticals, with potential implementation as early as 2 April.
The New York Times reports that President Trump is eager to forge a new trade deal with China.
Australian Market
Australian shares are set to open lower, though futures trimmed earlier losses as the S&P 500 hit a record high. Investors are awaiting ASX earnings reports and key jobs data at 11:30am.
Company News
Investors are also awaiting earnings results from other ASX-listed companies, including ANZ, Tabcorp, and Wesfarmers.
Telstra reported a 7.1% increase in half-year net profit, leading to a 5.6% dividend hike and a $750 million share buyback. This strong performance underscores the company’s resilience in a challenging market.
Transurban swung to a first-half loss of $15 million, highlighting the challenges faced by the infrastructure sector.
Auckland International Airport reported modest growth, hampered by weakness in domestic travel.
SkyCity Entertainment reported a drop in earnings due to declining customer spending.
