The ASX200 is expected to gain about half a per cent this morning after the Dow Jones closed at another record high, adding 0.6 per cent.
The S&P500 was flat, while the Nasdaq slipped 0.1 per cent, after Nvidia lost nearly 6.5% after its quarterly results raised questions around whether the AI boom had reached its peak.
Back in Australia, retail trade data will be released by the Australian Bureau of Statistics, covering our retail spending in July.
Mobile phone and broadband company, TPG Telecom (ASX:TPG) has handed down its half year results with EBITDA up 3.5% to $974 million. It cut 120 jobs this month to counter the impact of inflation. Net profit after tax was down $19 million to $29 million, due to depreciation and financing costs. It is paying a 9c dividend.
Offshore oil and gas play Carnarvon Energy (ASX:CVN) reported a $656,000 loss, but that was a vast improvement on last year where the loss exceeded $4 million. It has no debt and close to $180 million in cash available. It holds 10 per cent of the Dorado oil and gas field off the coast of northern Western Australia.
And shares in Asia-focussed ecommerce supply chain company eCargo (ASX:ECG) will be suspended this afternoon, and the stock removed from the ASX next week.
Shareholders voted for the delisting blaming negative perception towards Chinese listed stocks for impeding fair market value and impacting the company’s ability to raise capital.
Commodities and $
Gold added half a per cent overnight to about US$2521, iron ore’s around US$98.50, brent crude’s below US$80 a barrel and natural gas is around US$2.14.
The Aussie dollar is at 67.9 US cents.