Investing.com - Australian shares are set to open with slight gains on Friday, following a mixed session for US stocks overnight as investors turn focus towards the release of the May US payrolls report later today.
Prices for commodities such as iron ore, gold, and oil have risen, reflecting positively on the US-listed share prices of mining giants BHP (ASX:BHP) Group Ltd ADR (NYSE:BHP) and Rio Tinto ADR (NYSE:RIO).
Tech giants NVIDIA Corporation (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL), however, saw slight decreases as both companies ended the session with a market cap of $2.98 trillion.
In a significant move, the European Central Bank (ECB) cut its key rate to 3.75%, citing a much-improved inflation outlook. However, the bank did not provide any indications of future rate paths. This follows the Bank of Canada's recent rate cut and signal of another potential cut in July.
On the bond markets, 10-year and 2-year rates were at 4.26% and 4.023% respectively.