Investing.com - Australian shares are set to open higher on Tuesday, mirroring Wall Street's gains where stocks neared record highs, despite a continued sell-off in Nvidia and other semiconductor stocks.
The benchmark S&P/ASX 200 Index fell 0.8% on Monday, but remains on track to register a modest monthly increase.
On Wall Street, the Dow Jones Industrial Average rallied 0.7%, driven by gains in the financial, real estate, and utilities sectors, even as the S&P 500 and NASDAQ Composite fell 0.3% and 1.1% respectively.
NVIDIA Corporation (NASDAQ:NVDA) dropped 6.7%, reducing its market value to $US2.91 trillion as more investors took profits following its remarkable surge since the start of the year. The stock has fallen 13% in three sessions, ending its brief stint as the world’s most valuable company.
Oil prices continued their recent upward trend, with Brent crude rising 1% to $US86.12, an over 8% increase this month.
Ahead in today's session, Collins Foods Ltd (ASX:CKF), the operator of KFC stores, is slated to report its full-year earnings.
On the bond markets, 10-year and 2-year rates were at 4.264% and 4.08%, respectively.