At 11:30am, the S&P/ASX 200 is 0.92 per cent higher at 7,771.10, mirroring a continued surge in New York where Tesla and Apple led gains in the blue-chip technology sector. This trend reflects positive investor sentiment and strength in tech stocks influencing global markets.
Overnight, Wall Street saw the S&P 500 rise by 0.8% to reach 5473.23, while the Nasdaq Composite, driven by a 5.3% increase in Tesla and a 2% gain in Apple, gained 1% to close at 17,857.02. Additionally, the NYSE Fang + Index, comprising megacap tech stocks, concluded with a 1.8% increase.
The SPI futures are pointing to a rise of 60 points.
Best and worst performers
All sectors are in the black. The best-performing sector is Utilities, up 1.5 per cent. The sector with the fewest gains is Materials, up 0.12 per cent.
The best-performing large cap is Atlas Arteria (ASX:ALX), trading 3.83 per cent higher at $4.88. It is followed by shares in Macquarie Group (ASX:MQG) and ALS (ASX:ALQ).
The worst-performing large cap is Fortescue (ASX:FMG), trading 4.79 per cent lower at $21.88. It is followed by shares in ResMed (ASX:RMD) and Telix Pharmaceuticals (ASX:TLX).
Commodities and the dollar
Gold is trading at US$2335.10 an ounce.
Iron ore futures are pointing to a 0.79 per cent rise.
One Australian dollar is buying 66.15 US cents.