Wall Street climbed to record highs on renewed US-China trade optimism, with the S&P 500 on track for its first-ever close above 6,800 points. European markets also extended their winning streak, marking a third straight session of record finishes, while Argentine assets rallied following Javier Milei’s election victory. Elsewhere, Qualcomm shares surged after the company unveiled new AI chips aimed at competing with Nvidia. In commodities, copper reached a 17-month high on hopes of a trade deal, while gold slipped below $4,000 per ounce. Back home, Aussie shares are set to fall amid renewed interest rate jitters, after RBA Governor Michele Bullock warned that a 0.9% rise in core CPI would represent a material miss.

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