ASX Market Open: Dead cat bounce or well-timed dip buying? Global traders think its the latter | Nov 11

Market Overview - Australian shares are expected to open with a moderate gain of up to 60 points, reflecting a +0.65% increase as part of a 'buy the dip' rally [1] - The U.S. tech sector showed significant strength, with the Nasdaq composite rising by +2.29% and the S&P 500 increasing by +1.5% [3] Company News - Commonwealth Bank (ASX:CBA) reported a slight increase in first-quarter profits, maintaining profit after tax at $2.6 billion, supported by resilient lending despite tech-related costs being a drag [4] - Activeport Group (ASX:ATV) announced the launch of its NNI Exchange in the Middle East, projecting to unlock $112 billion in the overseas AI market [4] - Pilbara Minerals (ASX:PLS) was a standout gainer, increasing by +9% [5] - Rox Resources (ASX:RXL) has commenced underground mining at its Youanmi Gold Project, marking a significant operational milestone [5] - Coles (ASX:COL) and TPG (ASX:TPG) are holding Annual General Meetings today, which may influence their stock performance [5] Commodity and Forex Update - The Australian dollar is trading at 65.3 U.S. cents [6] - Iron Ore prices increased by +0.9% to $102.15 per tonne, Brent Crude rose by +0.6% to $64.02 per barrel, and Gold is priced at $4,117 per ounce [6]