Live: ASX likely to open higher, AI-buying frenzy drives Dow to record high

live Markets live: ASX likely to open higher, AI-buying frenzy drives Dow Jones to record high The Australian share market is likely to have a cautious start to the new financial year. US tech stocks with any kind of connection to AI surged overnight, boosting Wall Street's industrial index, the Dow Jones, to a new record high for a second straight day. Follow live. Disclaimer: this blog is not intended as investment advice. Submit a comment or question Live updates Wed 1 Jul 2026 at 7:49am Market snapshot Prices current at around 7:30am AEST New: Filters Choose what information you see below by using filters Key Event Wed 1 Jul 2026 at 8:04am Australian property values post sharpest monthly fall since 2022, new Cotality data reveals The nation's housing market weakened further in June, with national home values falling 0.4%, the biggest monthly decline since December 2022. Sydney and Melbourne led the downturn while growth in Brisbane, Perth and Adelaide slowed, according to new data from Cotality. Many economists are expecting housing conditions to remain soft in the months ahead due to interest rates, weak sentiment and tax policy changes. For more, here's the story by Lin Lin: Key Event Wed 1 Jul 2026 at 7:49am ASX headed for slow start, while 'AI boom' drives Dow Jones to highest level ever Good morning, and welcome to the ABC's finance blog — and the new financial year! I'll be guiding you through the latest market action for the next few hours. And it looks like the local share market will have another quiet start to its day. ASX futures, which are a rough indicator of how the market may open, have risen by just 0.1%. So it suggests the market will open either flat, or slightly higher. The Australian dollar has recovered slightly to 69.2 US cents, but is still down 3.4% over the past month. AI frenzy drives Wall Street higher The 'AI trade', meanwhile, continued to push Wall Street's industrial stock index to new record highs. Once again, it seems technology stocks with any kind of connection to artificial intelligence rallied overnight, including Nvidia (2.6%), Apple (+2.7%), SpaceX (+4.1%), AMD (+7.7%), Sandisk (+10.9%) and Intel (+6%). So today investors were feeling incredibly bullish, and not at all bothered by concerns that many of these companies might be overspending on AI investments — which may take many years before there's a return on investment (if it even happens at all). Nevertheless, the Dow Jones Industrial Average rose 0.3% to 53,219 points, its highest-ever closing figure. The benchmark S&P 500 and tech-heavy Nasdaq Composite indexes gained 0.8% and 1.5% respectively. Anyway, please grab a coffee, tea or whatever you normally have in the morning, and I'll have more updates for you shortly! [Image text:] AS) STOCK RIn OFFER NELSON RESOURC O.OO 0.004 NETLINKZ 0.00 0.000 NEUREN PHARMA 16.98 17.34 NOREOLKMETALS 0 0 IT