Australian shares are set to open lower, tracking weakness on Wall Street where a rally has run out of momentum near record highs. Still, the tech-heavy Nasdaq 100 edged higher to a fresh all-time closing high.
Nvidia reset its record high, rising 4.3 per cent, lifting its market cap to $US3.77 trillion. Its shares have rallied more than 60 per cent from an early April low amid renewed optimism for the outlook for artificial intelligence. Nvidia is now the world’s most valuable publicly traded company. Microsoft rose 0.4 per cent, putting its market cap at $US3.66 trillion. Apple trails in third at $US3.01 trillion.
Source: https://www.afr.com/markets/equity-markets/asx-to-slip-nvidia-resets-record-high-oil-steadies-20250626-p5madl