Company Interview / the open: ASX to rally 🪙 Bitcoin bounces back

It was risk-on on global equity markets late last week as they reversed recent losses, while bitcoin bounced back from its sharp selloff and precious metal prices also recovered. The local market is set to rally to begin the week after losing 2% on Friday. ASX futures are around 1.2% higher. 

On Wall Street the Dow eclipsed 50,000 points for the first time, while the S&P 500 and Nasdaq also surged. For the week, the Dow added 2.5%, the S&P 500 finished almost flat but the Nasdaq slid close to 2%, dragged lower by a sell-off in tech stocks. 

Overseas, the coalition led by Japanese Prime Minister Sanae Takaichi has recorded a landslide win in national elections with her Liberal Democratic Party projected to win as many as 328 of the 465 seats in Japan's lower house.  

The US dollar index closed down 0.2% on the day, while the yen lifted ahead of the election result. The Australian dollar is back above 70 US cents.