Kalkine: Australian Market Set for Positive Start as Oracle-Led Tech Rally Energizes Wall Street

3 min read | June 13, 2025 11:52 AM AEST | By Team Kalkine Media

Google News:

Kalkine: Australian Market Set for Positive Start as Oracle-Led Tech Rally Energizes Wall Street — Image source: shutterstock

Recent News

Northern Star Resources (ASX:NST): The Gold Signal the Market Is Watch...

Pro Medicus (ASX:PME): Why Profitable Growth Is the Market’s New Test

Northern Star Resources (ASX:NST): Why Gold’s Pullback Is Raising Fres...

Commonwealth Bank (ASX:CBA): Why Bank Margins Are Under Pressure

Make Kalkine Media
My Trusted Source

Highlights

ASX set to open higher on global tech momentum

Oracle (NYSE:ORCL) leads surge with upbeat AI revenue forecast

Investors eye Australian travel data amid geopolitical tensions

Australian shares appear poised to open higher today, tracking overnight gains on Wall Street, where a strong performance by major tech stocks helped lift investor sentiment. ASX futures rose 46 points, or 0.53%, to 8,605 as of 7:30am AEST, signaling an optimistic start to the trading session.

Tech Giants Propel Wall Street

The US market saw a coordinated upswing across major indices. The Dow Jones Industrial Average rose 0.24%, the S&P 500 advanced 0.38%, and the tech-heavy Nasdaq climbed 0.24%. Central to the rally was Oracle (NYSE:ORCL), which jumped 13% after it revised its annual revenue growth guidance upward. The software company's confidence was underpinned by increased demand for artificial intelligence (AI)-driven cloud solutions.

The upbeat mood extended to other AI-focused giants, including Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), and Broadcom (NASDAQ:AVGO), each notching gains exceeding 1%. The rally reaffirmed strong investor interest in technology companies positioned to benefit from the expanding use of AI across industries.

Market Sentiment Mixed by Global Risks

Despite the buoyant tone in US tech stocks, broader market sentiment remains tempered by rising geopolitical tensions. The situation in the Middle East has intensified, with the US government urging its personnel to leave certain areas due to escalating conflict risks. The development prompted caution among global investors.

Meanwhile, the US dollar weakened to a three-year low following a policy signal from the White House indicating plans to introduce updated tariff terms to trading partners. This move comes as the end of a 90-day trade pause looms, injecting uncertainty into the global trade outlook.

Commodities and Currency Snapshot

In commodities, Brent crude oil rose 1.2% to US$70.19 per barrel, and US West Texas Intermediate (WTI) climbed 1% to US$68.86 per barrel. Spot gold remained steady at US$3,386 per ounce. Bitcoin edged up 0.2% to US$106,212.

The Australian dollar gained 0.44%, reaching 65.33 US cents, buoyed in part by the rally in commodities and positive risk sentiment.

What to Watch Next

At 11:30am AEST, attention will turn to local economic data, as the Australian Bureau of Statistics is set to release overseas arrivals and departures figures for April. Travel and tourism watchers will be looking closely at trends, particularly after May recorded a 4.6% rise in total arrivals compared to the same period last year.

The convergence of strong tech momentum, geopolitical caution, and upcoming local data sets the stage for a potentially active trading day across the ASX.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.