Company Interview / the open: risk on as Middle East tensions ease & Nvidia reports 🐂

The S&P/ASX200 is expected to rally with futures pointing to a rise of104 points or 1.2% ahead of the jobs report due at 11:30am AEST.

Global markets rallied overnight as investors grew more optimistic that the US and Iran may be nearing a deal to end the conflict in the Middle East. Comments from US President Donald Trump suggesting negotiations were in their final stages helped ease fears of a prolonged oil shock and inflation spike. However, this morning, US futures dipped as NVIDIA shares fell in afterhours trade. The Nasdaq led gains overnight, boosted by a strong rally in semiconductor stocks ahead of NVIDIA's quarterly results. The chip giant forecast revenue above expectations and unveiled a US$80 billion share buyback program.  Oil prices fell sharply, as traders unwound some of the geopolitical risk premium built into energy markets in recent weeks. Bond markets also stabilised, with the US 10-year Treasury yield retreating from recent highs after fears that higher oil prices would force the Federal Reserve to keep rates elevated for longer.