Company Interview / the open: tech bounces back 🤖 ASX to continue rally

Wall Street tech was back in favour following last week's AI-related selloff boosting the S&P 500 and Nasdaq. The local market is set to build on the previous session’s gains with ASX futures up 0.4%. 

On Wall Street, Oracle was among the best performers, after a broker upgrade, while Microsoft has been downgraded to a hold by Melius Research which says the company is moving too slowly on Copilot in 365. 

White House economic adviser Kevin Hassett has said that US job gains could be lower in the coming months due to slower labour force growth and higher productivity. In the UK, Prime Minister Keir Starmer has resisted calls to quit with the leader of his party in Scotland demanding he stand down. 

The US dollar index is down 0.7% on the day with the yen strengthening after Japanese Prime Minister Sanae Takaichi's resounding election victory. The Australian dollar has surged to 71 US cents.