US markets logged their best session since May last year, with Nvidia surging after upbeat AI comments from CEO Jensen Huang. The rally was partly offset by Amazon, which slid the most since August after unveiling a US$200 billion spending plan, while a sharp plunge in Stellantis weighed on auto stocks more broadly. In commodities, oil prices climbed on concerns over a potential US–Iran conflict, while iron ore eased ahead of China’s Lunar New Year holiday. Back home, a rebound is expected in Aussie shares, supported by gains in base and precious metals.

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