ASX to rise, S&P 500 resets record high, bitcoin tops $US113,000

News Snapshot:

Australian shares are set to open higher, with relatively modest gains in New York helping the S & P 500 reset its record high as it edged closer to the 6300-point level. In a social media post, President Donald Trump took credit for Nvidia’s push to a $US4 trillion market cap and pressed the Federal Reserve anew to “rapidly” lower interest rates. In contrast, Sevens Report author Tom Essaye said Trump’s current tariff negotiation strategy could result in the Fed “delaying” a rate cut past September. “There’s zero chance we’ll have tariff clarity by August 1, which makes a July...