Live: Google’s new AI model sends Nasdaq soaring, Andrew ‘Twiggy’ Forrest steps up clean energy campaign, ASX set to crash

Good morning is Friday December 8 and you are reading ABC’s business and markets blog.

I’m going to be honest with you, there’s a bit to digest overnight, but let’s start with Wall Street, where the Nasdaq rose overnight, thanks to Google’s parent company. Alphabet.

This is because the technology giant launched its new AI model called Geminiwhich sent its shares up about 6% and encouraged tech optimism on the Nasdaq.

However, AI is not the only reason for that positivity: it also has to do with a series of economic data released three days in a row showing a moderation in the US labor market.

This is reaching a crescendo that will occur overnight when the authorities US Government Payroll Data is published and is fueling that conversation around interest rates potentially at their peak and rate cuts could be on the horizon.

But if you think the positivity on Wall Street will be reflected in our local market, think again.

Right now, our futures point to a lower start to the day, but the day is just beginning.

Stay with us and we’ll see how it all plays out.