The ASX200 is set for a slight mid-week downer, with futures predicting a 0.2 per cent dip.
Investors braced themselves in the US overnight for Nvidia’s quarterly results, causing a 6 per cent drop in the semiconductor chipmaker’s shares.
Despite expectations of excellent earnings, concerns lingered about a potential ‘sell the news’ reaction, where high expectations might lead to a negative market response. Nvidia has a track record of strong Q4 earnings reports, including beating EPS estimates, and sales estimates, and raising guidance in recent years. The outcome remains uncertain amid heightened expectations. Nividia is up more than 234 per cent year on year.
The NASDAQ slipped one per cent, the Dow Jones wa down .7 per cent and the S&P 500 retreated .3 per cent
Back home,
Companies reporting today include Domino’s Pizza (ASX:WOW), Lottery Corporation (ASX:TLC), NAB (ASX:NAB), Rio Tinto (ASX:RIO) and Woolworths (ASX:WOW).
And just on Woolworths, CEO Brad Banducci announced he’s stepping down from the role after 8.5 years, following a rather heated interview on ABC Four Corners which saw the supermarket giant boss temporally walk while airing.
Mr Banducci will officially step down in September, making way for his successor Amanda Bardwell.
Westpac leading index data is expected at 10.30 am AEDT and the fourth quarter wage price index due out 11.30 am.
In the smaller caps,
Australian Unity is set to bolster its Home Health portfolio by acquiring the myHomecare Group from Enrich Health Group Pty Ltd, aligning with the company’s strategic goals for accelerated growth.
Valor Resources (ASX:VAL) has progressed in its acquisition of a lithium portfolio in Ontario, Canada, by completing the acquisition of the Jesaulenko Lithium Project.
The Aussie dollar has bumped up a touch, buying 66 US cents.
Iron ore has lifted more than a per cent to just below US$130, crude oil has dipped 1.6 to just above US$77, gold is trading at US$2023, up .3 per cent. And natural gas has risen two per cent to buy $1.58
