ASX è pronta per un inizio piatto, Wall Street rally sui prezzi del petrolio in calo; Amazon raggiunge una valutazione di $ 3 trilioni, Boeing salta

The Australian sharemarket edged closer to a record high on Monday as Wall Street surged toward its all-time peak, driven by falling oil prices and improved investor sentiment. The S&P 500 gained 1.5 per cent, bringing it within 0.1 per cent of its previous high set earlier this summer. The Dow Jones Industrial Average rose 1.3 per cent, while the Nasdaq composite climbed 2.1 per cent. These gains followed a volatile July marked by sharp fluctuations in oil prices due to tensions surrounding the war with Iran and broader economic concerns. Meanwhile, the ASX 200 index rose 0.5 per cent despite initial futures suggesting a slight decline at the opening. This upward movement came after U.S. President Donald Trump announced his decision to delay further military action against Iran at the request of regional allies. The rally on Wall Street was fueled by a 5 per cent drop in the price of a barrel of Brent crude to $83.52, alleviating fears of continued inflationary pressures. Over the past month, Brent crude had fluctuated dramatically between $72 and $102 amid uncertainty regarding the resumption of oil tanker traffic through the Persian Gulf following the conflict with Iran. Trump's decision to pause additional strikes eased concerns about potential disruptions to global oil supply, leading to a corresponding decrease in U.S. Treasury yields. The yield on the 10-year Treasury note fell to 4.68 per cent from 4.75 per cent on Friday, although it remained significantly higher than its pre-conflict level of 3.97 per cent. Higher interest rates pose a threat to equity markets by increasing borrowing costs for both consumers and businesses, potentially slowing economic activity. The average long-term U.S. mortgage rate had already reached its highest level in a year, adding pressure to the housing market. However, the decline in oil prices benefited sectors heavily reliant on energy inputs, such as airlines and cruise lines. United Airlines saw its shares rise 5.8 per cent, while American Airlines increased by 5 per cent. Norwegian Cruise Line Holdings posted a 6.6 per cent gain. Boeing also performed strongly, climbing 8 per cent after receiving regulatory approval for its new 737 MAX-7 aircraft, which includes enhanced safety features and pilot alerts. Technology stocks experienced notable gains, with Amazon reaching an intraday high and surpassing the $3 trillion market capitalization mark, becoming only the fifth company in history to achieve this milestone. The stock closed 4.6 per cent higher. Tyson Foods also showed strength, gaining 2.9 per cent after reporting better-than-expected profits for the spring quarter. CEO Donnie King highlighted ongoing momentum in the company's chicken division and prepared food segments, including popular brands like Jimmy Dean and Hillshire Farm. This performance aligned with a growing trend among major U.S. corporations delivering stronger-than-anticipated earnings, which is crucial for maintaining confidence in stock valuations. According to FactSet, companies listed in the S&P 500 are projected to report earnings per share for the spring quarter that are 47 per cent higher compared to the same period last year. More than half of these firms have already released their results, and if this trend continues, it would represent the most robust earnings growth since the spring of 2021, when the economy was recovering from the impacts of the COVID-19 pandemic. Additional positive signals emerged from a report indicating that U.S. manufacturing growth accelerated to its strongest pace since 2022, providing further support to the bullish outlook on the economy. Despite these encouraging developments, uncertainties persist in certain sectors, particularly in the computer chip industry. Stocks related to semiconductor manufacturers have experienced considerable volatility over recent weeks due to concerns about the sustainability of revenue growth driven by the artificial intelligence boom. Investors remain cautious about whether the anticipated profitability and productivity gains from AI advancements will materialize as expected. If AI fails to deliver the promised returns, major technology firms might reduce their investment in data centers and other infrastructure, which could impact future growth trajectories.