Australian shares expected to open lower as Wall Street hits records on Nvidia's $5 trillion valuation and Fed rate cut

Nvidia reached a $US5 trillion valuation, becoming the first company to do so on Wall Street, as US stocks climbed to new records. US markets saw gains with the S&P 500, Dow Jones, and Nasdaq all rising. The Federal Reserve announced an expected interest rate cut, with markets awaiting further commentary. The Australian sharemarket is expected to open lower. Stronger-than-expected earnings from companies like Caterpillar and Teradyne, driven by AI demand, boosted investor sentiment.