Australian shares are poised to dip amid concerns around opposition to the United States’ proposed debt limit deal. Congress is expected to vote on the bill as early as tonight.
The NYSE fell 0.56 per cent. The tech-heavy NASDAQ was boosted by an ongoing rally from Nvidia. The chip maker hit an all-time high on the back of demand for AI chips. Nvidia closed the day trading at US$401 apiece.
Apple stocks also rose, up 1 per cent, as did Tesla, which climbed 4 per cent to US$201 per share.
Only three US sectors advanced, with healthcare providers the biggest drags on the market.
Meanwhile, in Australia, the Crown Resorts empire is bracing for a $450 million fine for anti-money laundering breaches. The charges are being negotiated with the financial crime agency, AUSTRAC.
If agreed by the Federal Court, the proposed penalty would be one of the biggest in Australian corporate history.
The Australian dollar nudged downwards on China’s weaker-than-expected recovery. One Aussie dollar is buying 53 British pence and 65 US cents.
Oil tumbled more than 4.5 per cent as tensions rose between Russia and Ukraine, and mixed messages were delivered from major producers ahead of the key OPEC meeting this weekend. Oil is now trading at US$69.67 a barrel.
Iron ore saw a slight gain, trading at $104.50 per tonne. Natural Gas prices continued to drift lower.