Positive market sentiment lifts ASX at open, investors still expect conflict resolution

CommSec’s James Gruber provided his analysis of the market’s early momentum, highlighting the ASX’s positive start driven by rising index futures and strong gains from Wall Street.

“The ASX will hopefully kick some goals too today with the index futures up 0.5 per cent … that was before the US and Iran fighting over the weekend,” Mr Gruber told Sky News Australia.

“The positive sentiment though, was because of Wall Street’s higher lead on Friday night.

“The S&P500 rose 0.4 per cent, and the Nasdaq was 0.3 per cent higher, and that was partly due to the blockbuster debut of SK Hynix, a South Korean memory chip maker.

“Commodities were mostly lower; gold was a little lower, oil was lower too as investors still expect a resolution to the Iran conflict.”

Presented by CommSec.