Highlights
Australian shares are expected to rise at the open.
The latest SPI futures indicate that the ASX 200 would open the day 29 points or 0.4% higher.
On Monday, the benchmark index surged 0.6% to 6,933.7 points.
Australian shares are expected to rise at the open on Tuesday after Wall Street rallied broadly in the overnight trade, on a rising risk-on sentiment triggered by hopes that the US Federal Reserve could pull brakes on its rate-hike policy.
The latest SPI futures indicate that the ASX 200 would open the day 29 points or 0.4% higher. On Monday, the benchmark index surged 0.6% to 6,933.7 points.
On Wall Street, the Dow Jones rose 1.31%, the S&P 500 gained 0.96%, and the NASDAQ ended 0.85% higher.
In Europe, the Stoxx 50 rose 0.6%, the FTSE fell 0.5%, the CAC was flat, and the DAX ended 0.6% higher.
MSCI's all-country world index gained 1.12%, and the broad pan-European STOXX 600 index closed up 0.33%.
Bond yields
US Treasury yields surged in choppy trading on Monday after a highly volatile week, as bond investors turned their focus to the all-important inflation data and the US mid-term elections.
- The yield on two-year notes rose 7.4 basis points at 4.726%.
- The 10-year yield was up 5.6 basis points to 4.214%.
Oil prices fall
Oil prices fell on concerns over weak Chinese demand.
- US crude fell 82 cents to settle at US$91.79 a barrel.
- Brent crude fell 65 cents to US$97.92 a barrel.
Gold prices rise
Gold prices steadied near a three-week peak hit on Friday, buoyed by a weaker dollar as investors awaited the CPI report that could influence the Fed's interest rate policy.
- US gold futures settled up 0.2% to US$1,680.50 an ounce.
Meanwhile, iron ore futures in Singapore retreated on Monday after a four-session rally, while the steelmaking ingredient's contracts on the Dalian Commodity Exchange stretched gains, even as China adhered to a strict COVID-containment approach.
Benchmark December iron ore on the Singapore Exchange was down 0.6% at US$85.40 a tonne, as of 0703 GMT, after a weekly rise of more than 8%. But the Dalian exchange's most-traded January iron ore ended 2.1% higher at 661.50 yuan (US$91.51) a tonne.