Good morning! I’ll be here to guide you through the latest business and economic news.

The Australian share market was very close to hitting a record high yesterday.

Though it looks like investors will be doing some profit-taking today as the market is on track to open slightly lower this morning (ASX futures are down 0.2%).

It comes after a mixed session on Wall Street — with the S&P 500 flat and the Dow Jones slipping below its record high.

However, the Nasdaq Composite closed at its highest level ever, thanks to a jump in the price of technology stocks like Nvidia (+2.5%) ahead of its highly anticipated financial results.

Investors will be looking for evidence in Nvidia’s earnings (which are out on Thursday morning, Australian time) that the AI chip leader can maintain its explosive growth and stay ahead of its rivals.

So here are the closing figures:

• Dow Jones fell 0.5% to 39,807 points
• S&P 500 rose 0.1% to 5,308
• Nasdaq Composite gained 0.7%, to 16,795.

And there will also be some interesting economic news today.

The Reserve Bank will release the minutes of its May 7 meeting (which markets will pour over for clues on when the RBA could start cutting rates).

Also of interest is the post-federal budget consumer confidence survey, published by Westpac and the Melbourne Institute.

Stay tuned, and have some caffeine in the meantime!

Loading