The ASX is advancing in the initial session of the week, primarily driven by the strength of technology stocks, following Friday's tech-driven surge on Wall Street. This rally in New York was ignited by a surprising jobs report revealing that the US economy added 303,000 jobs in March, surpassing expectations, with the unemployment rate dropping to 3.8% due to increased participation.
At 11:30am, the S&P/ASX 200 is 0.25 per cent higher at 7,793.00.
The SPI futures are pointing to a rise of 16 points.
Best and worst performers
The best-performing sector is Information Technology [XIJ], up 1.42 per cent. The worst-performing sector is Energy [XEJ], down 1.11 per cent.
The best-performing large cap is GQG Partners (ASX:GQG), trading 7.42 per cent higher at $2.46. It is followed by shares in Qantas Airways (ASX:QAN) and Newmont Corporation (ASX:NEM).
The worst-performing large cap is Mercury NZ (ASX:MCY), trading 1.94 per cent lower at $6.06. It is followed by shares in EBOS Group (ASX:EBO) and Fisher & Paykel Healthcare Corporation (ASX:FPH).
Commodities and the dollar
Gold is trading at US$2328.20 an ounce.
Iron ore is 0.2 per cent higher at US$98.50 a tonne.
Iron ore futures are pointing to a 0.1 per cent fall.
One Australian dollar is buying 65.65 US cents.
