**ASX Set to Open Lower as Wall Street Stages Mixed Performance; Apple Shares Surge Following Earnings Beat, Oil Prices Retreat**
*Based on the original reporting by Su-Lin Tan for the Australian Financial Review, supplemented with additional context.*
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Australia’s sharemarket is anticipated to open lower following a volatile trading session in global markets, where US tech giant Apple posted upbeat earnings results and energy prices faced downward pressure. These developments occurred as investors continued to digest mixed signals from central banks and the latest set of economic data, highlighting ongoing uncertainty in the global economic outlook.
**US Markets: Tech Stocks Drive Recovery After Early Weakness**
The major US indexes experienced a choppy session overnight. Early losses were pared by a surge in tech shares, led by Apple, which released better-than-expected quarterly results.
– **The S&P 500** modestly lifted by session end, managing to close higher after an initial dip as investors responded optimistically to corporate earnings from select technology leaders.
– **Apple’s Share Price** saw a substantial jump after its report, with the tech behemoth revealing stronger-than-expected iPhone sales and resilient demand in its services business. Its post-market advance added positive momentum to the broader market.
– **Other Big Tech Names** also contributed to the recovery, with upbeat investor sentiment surrounding the sector offsetting weaker performance from some cyclicals and energy stocks. Investors appeared to favor the stability and growth prospects offered by technology firms amid uncertain economic conditions.
– **On the flip side**, several industries sensitive to commodity prices and consumer demand, including energy and discretionary spending, lagged as oil prices declined and concerns grew about consumer resilience.
**Australian Market Preview: Lower Open Projected**
After the Wall Street session, SPI futures pointed to a weaker opening on the ASX. Investors are expected to remain cautious in the face of global economic uncertainties and divergent signals from major central banks.
– **ASX Futures** indicated a potential drop at the open, reflecting investor wariness about the global economic trajectory and mixed global market leads.
– **Mining and Energy Stocks** are likely to feel additional pressure as commodity prices waver. This could significantly affect heavyweights such as BHP, Rio Tinto, and Woodside Energy. The pullback in oil may also weigh on energy sector performance.
– **US Dollar Performance** remains robust, which typically exerts downward pressure on commodity prices denominated in USD, challenging the resource-heavy Australian market.
**Key Global Events Shaping Market Sentiment**
A confluence of global events has kept market participants on edge. Central bank actions, inflation data, and profit results remain the main drivers.
*Federal Reserve Policy and US Treasury Moves*
– The US Federal Reserve’s signals around interest rate policy continue to move markets. While the Fed has held interest rates steady in recent decisions, investors remain attuned to any hints of future rate cuts as economic data rolls in.
– Treasury yields remained relatively elevated after recent economic reports suggested a resilient labor market.
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