Gillian Bowen

Wall Street has its largest IPO of the year, and unsurprisingly, it's tied to AI.

Well, markets in the US are continuing to surge forward off the back of another rally in technology shares.

There's some fresh economic data out of the United States as well that investors have been assessing and developments out of the US-China summit.

But essentially, it's all about chips and the trend to gravitate to artificial intelligence-linked companies.

The million-dollar question, though, James, is how much longer does this go on?

Wow.

Okay.

So looking at what's on the cards for Australia today then, the Aussie share market snapped a four-session losing streak yesterday, that is Thursday.

It rose by a tenth of a percent to 8,641.

Financials drove the gains up 1%.

Our tech sector, however, was down more than 2%.

The ASX 200 looks set to open in positive territory this morning.

ASX futures were up 52 points or 0.6% shortly after 6am.

As we turn to oil and other commodities, I note there are some reports filtering through that some ships have been moving through the Strait of Hormuz.

So James, what's the impact on prices?

Okay, let's have a look at currencies.

They are lower against the US dollar this morning.

One Australian dollar is buying 72.19 US cents.

The euro is worth 1.1688 US dollars, while one US dollar is buying 158.38 Japanese yen.

Okay, it's time to get a little deeper into the results of Thursday's session on overseas markets.