Company Interview / the open: ASX to rebound 💥 Bitcoin rallies

Global equity markets have turned positive following yesterday's steep losses, as oil prices steadied amid reports that Iran is seeking a negotiation to end the war. The local market is set to recover some of its recent losses this morning with ASX futures up 1%. 

The major indices on Wall Street rebounded as the fear gauge fell and investors chased tech-related stocks that were sold off heavily last month. Nvidia gained along with Amazon, while Applied Digital shares surged.  

The war in the Middle East has widened with a US submarine sinking an Iranian warship off the coast of Sri Lanka, killing at least 80 people. And NATO air defences have destroyed an Iranian ballistic missile fired towards Turkey. 

US President Trump said the US Navy could begin escorting oil tankers through the Strait of Hormuz. Oil prices initially fell then slightly gained in what was a volatile trading session. Gold has recovered some of the previous session's losses meanwhile bitcoin rallied more than 7% to $73,000. 

The US dollar has pulled back from the multimonth highs as investors unwound safe‑haven positions on hopes that the war may be less protracted than initially feared. The Australian dollar has bounced back to US70.8 cents.