Jul 7, 2026 – 4.17amKey Posts33 mins ago — 4.15AMBefore the Bell: ASX to slip, techs rally in New York42 mins ago — 4.05AMMorgan Stanley forecasts rotation to hyperscalers48 mins ago — 4.00AMMicrosoft’s Xbox unit to slash 3200 jobs48 mins ago — 4.00AMBroadcom, Apple extend chip deal to 203148 mins ago — 4.00AMNvidia supplier Hon Hai reports sales surge48 mins ago — 4.00AMGood morningGo to latestPinned post – 4.15AMBefore the Bell: ASX to slip, techs rally in New YorkTimothy MooreAustralian shares are set to open lower despite across the board gains on Wall Street as dip buyers emerged for tech stocks.ASX 200 futures were down 12 points or 0.1 per cent to 8798 near 4am AEST. In New York, the S&P 500 was 0.7 per cent higher, paced by information tech and communication services.A more than 5 per cent advance in Tesla led six of the seven megacap techs higher. Microsoft lagged. The Philadelphia semiconductor index rebounded 2.9 per cent.AMD, Western Digital, CoreWeave and Tesla were among the Nasdaq 100’s biggest advances. SpaceX is poised to join that index on Tuesday (Wednesday). That inclusion will force funds like the QQQ exchange-traded fund, which mimic the index, to buy SpaceX themselves.Market highlightsASX 200 futures are pointing down 12 points or 0.1 per cent to 8798.All US prices near 2.10pm New York time.AUD +0.2% to US69.53¢Bitcoin +1.7% to $US63,651On Wall St: Dow +0.1% S&P +0.7% Nasdaq +1.1%VIX +0.11 to 15.92Gold -0.4% to $US4159.37 an ounceBrent oil -0.3% to $US71.92 a barrelIron ore +0.6% to $US98.40 a tonne10-year yield: US 4.48% Australia 4.78%Today’s agendaThere’s no local data on Tuesday’s calendar. Overseas, the US will release May trade data later today.Top storiesAustralia rebukes China as sub launches ballistic missile in Pacific | Chinese state media on Monday confirmed its navy successfully test-launched a strategic missile from a nuclear submarine.Gas producers in talks with buyers on options to head off reserve hit | Some producers are considering innovative options to try to head off the gas glut envisaged by the reservation scheme.Aussie super funds hit the jackpot in $2b UK biotech deal | Brandon Capital will receive more than $300 million from the sale of Myricx, which is developing cancer-killing “biological missiles”, to Swiss giant Novartis.Housing downturn to lift the ASX, but bank risks still loom | One upside from a property slump is a potential rally in the sharemarket, but recent tax changes and a heavy weighting of banks could bring that trend unstuck.Chanticleer: Gradually – then suddenly – Australians switch to EVs, hybrids | If this isn’t the trigger to get serious about a distance-based national road user charge, we’re not sure what is.Fetching latest articles