ASX Preview: Australian Shares Poised for Higher Open as Wall Street Advances

MT Newswires Live

Jan 31

Australian shares are poised to open higher on Friday, tracking gains from Wall Street amid a spate of US corporate earnings reports.

The producer price index, as well as the housing and private-sector credit for December 2024 are due for release at 11:30 am Sydney time.

Overnight, the S&P 500 gained 0.5%, the Dow Jones Industrial Average rose 0.4%, and the Nasdaq Composite edged 0.3% higher. Investors are assessing a slew of earnings results, with Apple and Meta topping estimates.

In Australian corporate news, Resmed (ASX:RMD) reported Friday fiscal second-quarter earnings of $2.43 per diluted share on a non-GAAP basis, up from $1.88 per diluted share a year earlier.

Strike Energy's (ASX:STX) total production fell 11% to 2.13 petajoules of gas equivalent (PJe) during the second fiscal quarter ended Dec. 31, 2024, from 2.4 PJe in the previous quarter.

Australia's benchmark index rose 0.6%, or 46.70 points, Thursday to close at 8,493.70.

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