US Markets
US stocks climbed on Wednesday, marking a second consecutive day of gains as investors shrugged off trade-related concerns that had pressured markets earlier in the week.
Despite the broader rally, major technology stocks Alphabet and AMD saw sharp declines following their earnings reports.
The Dow Jones Industrial Average rose 317.24 points, or 0.71%, to close at 44,873.28, with Nvidia leading the gains. The S&P 500 added 0.39% to finish at 6,061.48, while the Nasdaq Composite edged up 0.19% to 19,692.33.
Nvidia surged more than 5% after Super Micro Computer announced that its AI data center, built with Nvidia’s Blackwell platform, had entered full production. Super Micro shares climbed around 8% on the news.
Amgen also contributed to the Dow’s gains, rising 6% after posting better-than-expected fourth-quarter earnings and revenue.
Elsewhere in the tech sector, Apple slipped slightly after Bloomberg News reported that Chinese regulators were considering opening a formal investigation into its App Store fees and policies.
Commodities
Oil prices retreated as US President Trump downplayed earlier comments on Iran, easing geopolitical tensions. Brent Crude slipped below the US$75 per barrel mark. Iron ore continued its decline, trading at $US103.95 per barrel. Meanwhile, Bitcoin dropped below $US97,205.
Bitcoin
Bitcoin dipped below $US97,595 ($155,258) overnight, extending losses from the previous session.
The cryptocurrency dropped as much as 2.2% to slip under $US97,000 before recovering some ground.
Local Market
Australian shares are poised for a higher open, as concerns over a US-led tariff war eased following President Donald Trump’s shift in focus to his Middle East strategy.
The SPI futures are pointing to 0.8% rise.
Meanwhile, the Australian dollar gained 0.5% as the US dollar weakened.
Company News
Contact Energy defended its proposed acquisition of Manawa Energy, arguing the deal will create a more robust electricity company.
Investors are awaiting half-year results from Beach Energy, News Corp, and REA Group.
