The Australian share market is likely to start its day higher, following a rally across Nvidia and other major Wall Street tech stocks.
In what was an ominous start to corporate reporting season last month, the Australian share market shed more than $100 billion during a massive global sell-off that was sparked by concerns about a potential US recession.Is the market over-valued, and which stocks / sectors are likely to do well in the year ahead?For years, the maker of iPhones got a sweetheart tax arrangement from Ireland to pay less than 1 per cent tax on its billions of dollars in profits across the world.
Under the changes, the Australian Communications and Media Authority would have additional information-gathering, record-keeping, code registration and standard-making powers that would allow them to ensure social media platforms are meeting their obligations. Shares of Nvidia surged 8% after its chief executive Jensen Huang saying the company is struggling to keep up with demand for its artificial intelligence chips.