AU Morning Wrap: ASX Rises Ahead of RBA Decision; Fortescue Falls Over 4%

The S&P 500 and Nasdaq resumed their rally to fresh all-time highs, buoyed by gains in tech giants $Apple(AAPL.US)$ and $Microsoft(MSFT.US)$.

The $S&P 500 Index(.SPX.US)$ rose to a new intra-day record of 5488.50, before paring gains to close at 5473.27, also an all-time high. The $Nasdaq Composite Index(.IXIC.US)$ rose to as high as 17935.99, before trimming the advance to 17,857. The indexes turned higher, wiping earlier declines, as investors gauge which equities can stay on an upward trajectory after climbing earlier this year.

The Australian sharemarket has opened with a 0.6% gain, or 42.4 points to 7742.7, following an extended rally in New York. The rise is led by real estate and consumer discretionary stocks, with the real estate sector being the best performer, up 1.3%. Notably, $Goodman Group(GMG.AU)$ rose 1.4%, $Scentre Group(SCG.AU)$ advanced 1.1%, and $Charter Hall Group(CHC.AU)$ added 1.8%.

According to Taylor Nugent, a senior economist at $National Australia Bank Ltd(NAB.AU)$, there is a projected "little change" to the post-meeting statement or the guidance from Governor Michele Bullock in the press-conference.

The $AUD/USD(AUDUSD.FX)$ is trading at US66.18¢, an increase of 0.06%.

As of latest data, $Bitcoin(BTC.CC)$ is priced at $66,523, down by 0.16% in the past 24 hours, while $Ethereum(ETH.CC)$ is priced at $3,510, down by 3.09% in the past 24 hours.

$Tamboran Resources Corp(TBN.AU)$, a natural gas exploration company, has announced its upcoming initial public offering (IPO) on the New York Stock Exchange (NYSE). The IPO is set to raise $US175.5 million ($265.3 million) through the sale of 6.5 million shares at a price range of $US24 to $US27 apiece. The company's move to go public is expected to drive growth and increase its market presence.

$Fortescue Ltd(FMG.AU)$, a major player in the iron ore industry, experienced a 4.5% drop in its share price after a $1.1 billion block trade took place on Monday after market close. The shares were offered to fund managers at a discounted price of $21.60 per share, which is 6% lower than Fortescue's last traded price.