ASX today – The S&P/ASX 200 is expected to open steady on Friday after Wall Street advanced across the board, driven by a strong overnight result from AI company Nvidia. The move adds another data point for local traders weighing offshore technology momentum against domestic earnings season updates and interest-rate uncertainty.

Nvidia reported quarterly revenue of US$96.2 billion, beating expectations and forecasting even stronger sales ahead. The second-quarter results sent Nvidia shares up 8.7%.

On Wall Street, the Nasdaq Composite led gains, rising 1.5%. The S&P 500 increased 0.7%, while the Dow Jones Industrial Average rose 0.2%.

The ASX may be more subdued than Wall Street, with concerns lingering over potential interest rate increases and the release of final annual earnings reports. That combination can keep attention on how companies are translating higher costs, demand trends and capital spending into full-year results.

The S&P/ASX 200 closed lower on Thursday, falling 89.60 points, or 0.98%, to 9,038.20. The index was down 0.50% over the previous five days and sat 2.78% below its 52-week high.

Locally, private new capital expenditure (capex) fell 3.6% in the June quarter of 2026, according to figures released by the Australian Bureau of Statistics (ABS).

“June’s fall in investment was the result of a 53.0 per cent drop in spending on information media and telecommunications equipment, after record investment in server racks and processing equipment for data centres saw an increase of 199.6 per cent last quarter,” Tom Lay, ABS head of business statistics, said.

“Despite the quarterly fall, total capital expenditure remains 10.7 per cent higher than the same time last year.”

On the market news front, energy exploration and production company Echelon Resources (ASX: ECH) reported a strong result for the year ended 30 June 2026, with group net profit after tax (NPAT) rising 341% to $28.2 million, from $6.4 million in the prior year.

Air New Zealand (ASX: AIZ) reported a loss before taxation of $336 million for the 2026 financial year, compared with earnings before taxation of $164 million in the prior year. The result was slightly better than the guidance range provided to the market in May 2026. Net loss after taxation was $242 million.

Multidisciplinary construction and engineering services provider Civmec (ASX: CVL) reported FY26 revenue of $903 million and NPAT of $52 million.

West Cobar Metals (ASX: WC1) said it is ready to expand scandium drilling targets at Salazar, while Lodestar Minerals (ASX: LSR) said drilling results have strengthened the IOCG model at Three Saints.

In foreign exchange, the Australian dollar is buying US$0.719.

In commodities, iron ore was up 0.10% at $95.68 in Singapore, Brent crude rose 1.99% to $89.590 per barrel, gold was selling at $4,595.90, and US natural gas futures were up 0.99% to $2.9025 per gigajoule.

That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions.