Investing.com - The Australian share market slipped 0.2% at Tuesday's open, following a subdued beginning to the quarter on Wall Street.
As trading winds down in New York, the Dow Jones Industrial Average dipped by 0.6%, the S&P 500 slid by 0.2%, and the NASDAQ Composite eased by 0.1%.
Tesla Inc (NASDAQ:TSLA) continued to decline as investors awaited the company's quarterly delivery numbers. Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG) saw an uptick in its shares, while Trump Media (NASDAQ:DJT) experienced a significant drop of over 20%.
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The previous quarter's gains in the US stock market have elevated investor confidence in equities to its highest level in nearly two years. However, Bank of America (NYSE:BAC) strategists suggest that the current sentiment is still a considerable distance from the "euphoric" levels that usually indicate a market peak.
In commodities, the price of Iron ore has bounced back above $US100 per tonne during overnight trading, following a nearly 5% drop during Australia's Easter Monday market closure.
The truncated trading week kicks off with a speech by Christopher Kent, RBA assistant governor (financial markets), discussing "the future system for monetary policy implementation". The minutes from the Reserve Bank Board's March 2024 monetary policy meeting are also due to be released at 11.30 am.
Nickel miners are likely to attract attention on Tuesday morning. This follows the Indonesian government's prediction of a fourfold increase in nickel exports by 2030, despite an existing supply surplus that has led several Australian operations to reduce production and shut down mines.
Gold miners are expected to be under the spotlight too, as the price of the precious metal increased by 0.7% to reach a record $US2246.17 per ounce overnight.
On the bond markets, Australia 10-Year rates were at 4.073%.