Shares are set to open modestly lower; S&P 500 edges higher; iron ore advances; oil pulls back; Tabcorp and Nine to post results. Follow updates here.
Australian shares are poised to fall. Shares closed modestly higher in a narrow range in New York with the focus on Nvidia’s quarterly results set to be released early Thursday AEST. ASX futures were down 29 points or 0.4 per cent to 7996 near 7am AES. Overnight on Wall Street, Nvidia rose 1.5 per cent to $US128.30. It’s scheduled to report its quarterly results on Thursday morning, after New York’s closing bell at 6am AEST. “The importance of Nvidia’s results cannot be underestimated,” said XS.
Goldman Sachs has lowered its forecast range for Brent prices by $US5 a barrel to $US70-85, and its 2025 average Brent forecast to $US77 a barrel from $US82 prior), reflecting upside surprises to OECD inventories and a lower fair value estimate for long-dated prices. Local investors will have their eyes on companies that are scheduled to report on Wednesday: APA | Fortescue | Karoon | Kelsian | Flight Centre | Nine | Smartgroup | Tabcorp | Woolworths .
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