Company Interview / the open: ASX set to rise following Wall Street gain

The local market is set to open higher with ASX futures up 0.5%. This comes as stocks on Wall Street gained as upbeat quarterly earnings results helped boost investor risk appetite.

A broad, tech-led rally sent all three major stock indices higher, while the small cap Russell 2000 was the outperformer. Apple shares hit a record after a broker upgrade amid strong demand for its latest iPhone. Meta, Netflix and Alphabet also gained. 

Prime Minister Anthony Albanese held a face to face meeting with President Donald Trump at the White House with the leaders agreeing to invest a combined $13 billion in critical minerals projects and work together to break China’s dominance in the space. A framework for co-operating on critical minerals includes offering guaranteed price floors for new producers and blocking asset sales on security grounds. 

The US dollar index is up 0.2% on the day. Meanwhile the Australian dollar is at US65.1 cents. And bitcoin is currently trading higher at $111,000.