Company Interview / the open: ASX to open higher, Wall St climbs

The local market is set to open positively with ASX futures up around 0.1%. Global shares rose overnight, while US Treasury yields fell after weak jobs data solidified expectations of a Federal Reserve interest rate cut. 

Wall Street's major indices finished in the green amid choppy trading with energy, financials and materials stocks were among the top gainers while tech stocks proved to be a drag. Microsoft pared losses after earlier sliding around 3% on reports that it has lowered expectations for AI product sales. 

US private payrolls posted their biggest fall in more than two and a half years in November as small businesses shed jobs. Private employment decreased by 32,000 jobs last month with the US economy adding 119,000 jobs in September. The unemployment rate is at a four-year high of 4.4%. Following the data, US rate futures have priced in a close to 90% chance of a 25-bp cut by the Fed next week. 

The US dollar index is down 0.5% on the day, meanwhile the Australian dollar has climbed to 66 US cents.