Investing.com - The Australian stock market is expected to tick higher on Wednesday, as US indices reset records overnight.
The ASX 200 Futures saw a minor overnight climb of 0.3%, while the S&P 500, NASDAQ Composite and Dow Jones Industrial Average each closed between 0.2% and 0.3% higher.
Investors will be closely monitoring the RBNZ interest rate decision as well as key earnings results from NVIDIA Corporation (NASDAQ:NVDA) later in the session.
In the commodities sector, oil prices have been showing signs of a mild downturn, floating near three-month lows, as primary market metrics suggest a potential softening. Brent crude oil settled under $US83 on Tuesday, signaling a wary market outlook.
Among cryptocurrencies, Ether held above $US3700 after a remarkable 14% jump in the previous trading session. Bitcoin remained close to $US69,650 after peaking over $US71,500 late the previous day in New York.
In business news, online travel company Webjet Ltd (ASX:WEB) has announced its intention to segregate its consumer and business divisions into two separate ASX-listed entities. The firm's bookings and profit margins have demonstrated a positive trajectory in the 2024 financial year.
Consumer lending entity Plenti Group Ltd (ASX:PLT) reported an encouraging 36% surge in net profit to $6.1 million, with revenue climbing 47% to $211 million for the fiscal year ending March 31.
DroneShield Ltd (ASX:DRO), a favoured small-cap market player, has announced the receipt of a repeat contract valued at $5.7 million from a US government client for its counter-drone solutions.
On the bond markets, Australia 10-Year rates were at 4.293% while 2-Year rates were at 3.987%.