Company Interview / the open: ASX to drop 📉 despite record highs on global markets

The local market is set to ease further this morning with ASX futures down 0.1%. Meanwhile, global stocks have rallied to fresh records as a ceasefire between Israel and Lebanon boosted sentiment, and oil prices have surged. On Wall Street, the S&P 500 and Nasdaq extended their record closing highs on optimism the Middle East conflict is near an end with President Trump indicating that the US and Iran could meet again this weekend. The Nasdaq has risen for 12 consecutive sessions, its longest winning streak in 17 years. Netflix shares fell 8% in extended trading after the streaming giant's quarterly results and news co-founder Reed Hastings is leaving the company.In economic data, weekly initial jobless claims were in line with estimates, while industrial production for March fell more than expected, down 0.5%. And in the UK, the economy expanded 0.5% month-on-month in February, the largest increase in two years. There's no economic data today, while US markets will be closed on Friday for a holiday. On the corporate calendar quarterly updates are expected from Alcoa and Zip. Elsewhere, private equity manager Axight has agreed to acquire a minority stake in La Trobe Financial from Brookfield’s private equity arm, in a deal valuing the non-bank lender at $3 billion.