Company Interview / the open: ASX to rise following Wall Street record highs

The local market is set to build on the previous session's gains with ASX futures up 0.2%. This comes as global stocks rose overnight while gold rallied to a new record as the US dollar weakened. 

On Wall Street all three major US stock indices registered record closing highs for a third straight session boosted by tech shares. The Nasdaq led the way despite concerns prompted by President Trump's announced $100,000 fee for H-1B visas, which allows US employers to hire foreign workers in specialty fields such as technology and engineering.

 New Federal Reserve Governor Stephen Miran has said that the central bank is misreading how tight it has set the monetary policy and will put the job market at risk without aggressive rate cuts. The US dollar index fell 0.3% on the day, whilst the Australian dollar currently trades at US66 cents. 

And gold has surged to a new all-time high, fueled by growing expectations of further US rate cuts and persistent safe-haven demand amid political uncertainty with flows into exchange-traded funds hitting a three-year-high. Spot gold is up 1.7% to $3,746 an ounce.