Australian equities are poised to open higher on Thursday, tracking a rebound in global risk sentiment driven by a strong finish for US technology stocks.
The S&P 500 rallied approximately 1% in the session, helping to lift broader market confidence ahead of the Sydney open.
Meanwhile, SpaceX shares rebounded after briefly falling 20% below their IPO price, stabilizing investor sentiment in the space sector.
Investors are also digesting the milestone of Apple becoming the second company to reach a $5 trillion market capitalization, signaling sustained demand for large-cap tech despite broader economic uncertainties.
Energy markets provided additional tailwinds as oil prices plunged, reducing input cost pressures for transport and manufacturing sectors.
Meanwhile, SpaceX shares rebounded after briefly falling 20% below their IPO price, stabilizing investor sentiment in the space sector.
The combination of falling energy costs and stabilizing tech valuations has created a supportive backdrop for risk assets globally.