Australian shares are set to open higher on Friday morning, after both the S&P 500 and Nasdaq Composite reset their record closing highs, bolstered by further gains in tech stocks.
The S&P 500 posted four record highs in the last five trading sessions. Research firm CFRA raised its 12-month price target for the S&P 500 to 6850, implying a gain of 10.3 per cent from the June 30 close and the year-end 2025 level of 6525. It closed at 6279.35 on Thursday (Friday AEST).
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-s-and-p-500-resets-closing-high-record-20250704-p5mcfd