Nvidia’s shares surged by 8.7% after hours on Wall Street as the company exceeded sell-side analysts’ expectations, with its AI sector performance bolstering investor confidence. Meanwhile, the recent release of US Federal Reserve meeting minutes reaffirmed policymakers’ caution towards interest rate reductions.
At 11:30am, the S&P/ASX 200 is 0.18 per cent lower at 7,594.50.
Best and worst performers
The best-performing sector is Utilities, up 1.00 per cent. The worst-performing sector is Consumer Discretionary, down 1.09 per cent.
The best-performing large cap is Infratil (ASX:IFT), trading 2.95 per cent higher at $9.78. It is followed by shares in Mineral Resources (ASX:MIN) and Fortescue (ASX:FMG).
The worst-performing large cap is Medibank Private (ASX:MPL), trading 5.31 per cent lower at $3.655. It is followed by shares in Aristocrat Leisure (ASX:ALL) and Bendigo and Adelaide Bank (ASX:BEN).
Commodities and the dollar
Gold is trading at US$2035.40 an ounce.
Iron ore is 1.6 per cent lower at US$120.0 a tonne.
Iron ore futures are pointing to a 0.6 per cent fall.
One Australian dollar is buying 65.55 US cents.