Good morning, and welcome to another exciting day of market action! The ASX 200 is set to open with a positive outlook, rising 43 points or 0.49%. The overnight session saw a mix of results, with the S&P 500 and Nasdaq recording back-to-back weekly gains, while the Russell 2000 took a hit. The major US benchmarks were mostly higher, with Tech, Defensives, and Materials leading the way. One of the standout stories was SK Hynix's record Nasdaq debut, which opened around 14% above its offer price after raising a staggering US$26.5 billion, the largest ever US listing by a foreign company. However, the market's attention quickly shifted to Iran's declaration of the Strait of Hormuz as closed over the weekend after a series of US strikes, reviving oil supply fears and causing Brent prices to surge by 4.9% to US$78.90 a barrel. Gold, on the other hand, took a hit, dropping 0.9% to US$4,083/oz. In other news, the global EV demand rose for the fourth month in a row, with Europe leading the charge, while fuel prices are squeezing consumers even as crude oil retreats. China, meanwhile, has dropped its five-year urban jobs target for the first time in decades, signalling rising uncertainty over AI-driven displacement. Lastly, Delta slipped despite beating earnings estimates and reaffirming its full-year profit forecast, with shares falling 1.8% due to fuel cost pressure and fare structure concerns. Overall, the market is looking positive, but there are some concerns that need to be watched. I'll be keeping a close eye on these developments and providing more insights as the day unfolds. Stay tuned for more updates!
