Market Close 01 May 25: Tech stocks soar on US earnings reports

The Aussie market had a quiet start to May, trading in a tight range but holding above the key 8,100-point level. Tech stocks led gains, lifted by strong earnings from Microsoft and Meta, while data centre firms like HMC Capital and DigiCo surged on AI-related investment news. In contrast, energy and materials dragged due to falling oil prices and BHP’s decline. Looking ahead, investors are eyeing US earnings from Apple and Amazon, local retail sales, and producer price data.

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