Wall Street rally fuels ASX jump as Nvidia stumbles in Chinese spy saga and oil slips

The ASX is poised to climb after a rally on Wall Street, with the Australian market reacting to overseas optimism.

At the same time, Nvidia’s shares have slipped following reports of a Chinese spy investigation, sending the tech‑stock into a brief tumble.

Oil prices have also moved lower, adding a modest retreat to the commodity side of the market.

Analysts note that the ASX’s expected bounce appears largely driven by the U.S. rally rather than any domestic catalyst, while the Nvidia dip and oil slide serve as reminders that market sentiment can shift quickly.

Investors are keeping a close eye on the mix of upbeat foreign cues and the lingering headwinds from the tech and commodity sectors, aware that today’s lift could be as fleeting as a coffee break.