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ASX Rises on Wall Street Optimism as Apple Reaches $5 Trillion

Published July 28, 2026 at 9:02 PM UTC

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Australian shares are expected to open higher, tracking gains on Wall Street where optimism about interest rate cuts and strong tech earnings lifted sentiment. The S&P/ASX 200 is poised to rise, breaking a three-day losing streak, as investors shake off worries about global demand. Meanwhile, oil prices extended their slide, falling more than 2% amid concerns about oversupply and slowing economic growth in major economies. In a milestone for corporate history, Apple became the first company to reach a $5 trillion market valuation, driven by its services business and expectations around artificial intelligence. The tech giant's shares climbed 1.5% in New York, pushing its market cap past the historic mark. For Australian investors, the lift in global markets provides a reprieve after a week of losses, though the drop in oil prices may weigh on energy stocks. The Reserve Bank's next rate decision and upcoming US jobs data will be key factors to watch in the coming days.