The US services index climbed, with the price gauge reaching its highest level since 2023, signalling persistent inflation concerns. Traders have adjusted their expectations, no longer fully pricing in a US rate cut before July. Meanwhile, US job openings surged to a six-month high, reflecting a resilient labour market. Additionally, the technology sector lagged, with Nvidia dipping after reaching a record high, while Moderna's stock saw a significant rise due to new vaccine plans. Commodity markets also showed mixed signals; oil prices increased amid Western sanctions, but iron ore fell to a seven-week low, potentially impacting the Aussie market today. Despite these challenges, Aussie shares are on track for a fifth consecutive day of gains. Furthermore, the US dollar advanced to a six-month high, emphasising the strength of the US economy.

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