Company Interview / the open: ASX to open flat, S&P 500 reaches record

The local market is set to open modestly higher with ASX futures up 6 points. This comes as the S&P 500 closed at a record high on hopes that interest rates will be cut as soon as next month. 

All eyes were on Nvidia’s earnings, as the tech giant topped revenue forecasts with $US46.74b in Q2, above estimates, but shares slipped after hours. The chipmaker also struck a landmark deal with President Trump, agreeing to hand 15% of China revenue in return for lifted H20 chip sales restrictions. Shares in other tech and AI heavyweights were mixed ahead of the result, with Microsoft gaining and Meta dipping. 

President Trump's decision to double tariffs on imports from India to as much as 50% took effect overnight, testing the relationship between the two countries. An additional 25% tariff has been added to India's exports as punishment for continuing to buy Russian oil. 

Locally today data on private capital expenditure for the June quarter will be released.