Company Interview / the open: ASX to rise, Wall Street rally extends

The local market is set to open slightly higher, with ASX futures pointing up 0.1%. 

Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs. For the week, the S&P 500 gained almost 3.5% while the Nasdaq rose 4.25% and the Dow climbed close to 4%. 

The Republican-controlled US Senate has advanced President Trump's tax-cut and spending bill that would fund his immigration, border, tax-cut and military priorities. Meanwhile, President Trump has also criticised Iran’s Supreme Leader Ali Khamenei and dropped plans to lift sanctions on Iran, also saying that he would consider bombing Iran again if Tehran is still enriching uranium. 

Oil prices recovered from earlier losses on Friday, following a report that OPEC+ is planning to hike production in August. However, crude tumbled around 12% last week as the war between Israel and Iran came to an end. 

The US dollar retraced earlier losses against the euro on Friday after President Trump ended trade talks with Canada, sending the Canadian dollar sharply lower. The Australian dollar is trading at US65.4c.