Good afternoon and welcome to Markets Desk, your midday read on what's moving and why.
Bitcoin is pressing hard against the eighty thousand dollar threshold, up roughly three percent on the session, as fresh inflows into spot bitcoin ETFs signal returning institutional appetite. The move reflects a broader lift in risk sentiment, and the pace of that rally is drawing serious attention from crypto desks.
That appetite for risk is showing up in equities as well, with Australia's S and P ASX two hundred pushing above the nine thousand one hundred fifty level in mid-session trade, extending Monday's gains. Sydney is taking its cues from a mixed Wall Street overnight but finding its own footing, with broad sector participation carrying the index higher through the afternoon.
Staying with the capital spending theme, hyperscalers are projected to pour seven hundred fifty billion dollars into artificial intelligence infrastructure this year alone, and the beneficiaries extend well beyond semiconductors. Cummins, the industrial engine maker, is drawing investor interest as a supplier of backup power systems for the data centers underpinning that buildout, a reminder that the AI trade runs deep into the old economy.
That's the tape. Markets Desk, signing off the floor.
