ASX to rise; S&P 500 resets record; bitcoin tops $US116k

The Australian sharemarket is set to open higher, tracking modest gains in New York where the S&P 500 reset its record high as it edged closer to the 6300-point level.

The benchmark closed up 0.3 per cent to 6280.46. It reached as high as 6290.22 during the session. Nvidia rose 0.8 per cent to finish at $US164.10 ($249.20), giving it a market cap of $US4 trillion.

In a social media post, President Donald Trump took credit for Nvidia’s push higher and pressed the Federal Reserve anew to “rapidly” lower interest rates.

Source: https://www.afr.com/markets/equity-markets/asx-to-rise-s-and-p-500-resets-record-high-bitcoin-tops-us113-000-20250711-p5me4t