Australian shares are tipped to lose ground after posting a record daily close, while tech stocks lead the gains on Wall Street.The US has a choppy day of trading amid concerns about jobless claimsASX futures pointed to a drop on the markets down 0.3 per cent, after mining stocks propelled shares to a record daily close of 7386.4 onThe Dow Jones rose 29 points to 34,823, the benchmark S&P 500 was 0.3 per cent to close at 14,358, while the tech-heavy Nasdaq Composite rose to 4,637.
Twitter stocks jumped 4 per cent after the social media company posted a strong quarterly earnings report. Other US tech companies to perform well were Salesforce which gained 2.5 per cent, while Amazon and Facebook finished up 1.4 per cent. "The jobless claims data that came out this morning was soft and continues to be stubbornly elevated," investment analyst for Cornerstone Wealth, Sean Bandazian, said.
"The market is probably digesting some volatility from the last several days. We had a pretty sizable drawdown and then recovery making back 75 per cent of what we lost Friday and Monday."Oil was up 2 per cent to $USD71.7 a barrel.In Europe, the STOXX 600 index rose , along with Germany's DAX and Britain's FTSE .