Investing.com - Australian shares are expected to ease from yesterday's record high of more than 8000 points as the market opens on Tuesday.
In the United States, the S&P 500 climbed by 0.3% to close at 5631.22, while the Dow Jones Industrial Average reached an all-time closing high of 40,211.72. The week began positively in New York, with Apple Inc (NASDAQ:AAPL) asserting its market-cap dominance and Goldman Sachs Group Inc (NYSE:GS) gaining on the back of strong quarterly results.
Trump Media & Technology Group Corp (NASDAQ:DJT) saw a 31% surge as the recent assassination attempt on Donald Trump was perceived as a boost to his bid to return to the presidency. However, news of Trump naming Ohio senator JD Vance as his running mate caused all three US benchmarks to pare their advances.
Federal Reserve chairman Jerome Powell, during an interview at the Economic Club of Washington, expressed increased confidence that inflation is cooling based on second-quarter data. He emphasized that policy decisions will be made at each policymaker meeting, with no plans to signal any decisions in advance. The next meeting is slated for July 30-31, where policymakers are expected to keep rates steady. The likelihood of at least a quarter-point rate cut at the September 17-18 meeting is currently over 90%.
In local news, Rio Tinto Ltd (ASX:RIO) and Hub24 Ltd (ASX:HUB) are due to release their quarterly updates, while Metcash Ltd (ASX:MTS) will trade ex-dividend.
On the bond markets, Australia 10-Year and 2-Year rates were at 4.347% and 4.159%, respectively.