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Highlights
The Australian share market is poised to open higher on Wednesday.
On Wall Street, the Dow Jones rose 0.17%, the S&P 500 rose 0.87%, and the NASDAQ ended 1.45% higher.
The Australian share market is poised to open higher on Wednesday despite an overnight trade full of volatility on Wall Street. The global stocks traded on an uncertain note and the US dollar rebounded against the euro following reports that Russian missiles killed two people in Poland, triggering concerns the nine-month Ukraine war could escalate.
ASX futures were up 4 points or 0.06% to 7157 near 7.15 AM AEDT, offsetting similar earlier gains. On Tuesday, the benchmark ASX 200 index closed 4.7 points lower at 7,141.6 points.
On Wall Street, the Dow Jones rose 0.17%, the S&P 500 rose 0.87%, and the NASDAQ ended 1.45% higher.
In Europe, the Stoxx 50 rose 0.7%, the FTSE fell 0.2%, the CAC gained 0.5%, and the DAX ended 0.5% higher.
MSCI's gauge of stocks across the globe gained 1.19%, while its emerging markets index rose 2.20%.
Bond yields
US Treasury yields fell on Tuesday and hit session lows after data showed that producer prices rose less than expected in October, adding to expectations that inflation may have peaked.
The benchmark 10-year Treasury yield declined to a six-week low of 3.758% and was last down 7.1 basis points to 3.796%. The 10-year has fallen 30 basis points since Thursday.
Oil prices rise
Oil prices rose on Tuesday more than 1% after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure.
- Brent crude futures rose US$1.38, or 1.5%, to US$94.52 a barrel at 2:22 PM EST (1922 GMT).
- WTI crude rose US$1.60, or 1.9%, to US$87.47.
Gold prices inch higher
Gold prices edged up near their highest in three months reached earlier on Tuesday on some safe haven buying following news that two people were killed in eastern Poland near the Ukraine border.
- Spot gold surged 0.3% to US$1,776.64 per ounce by 2:08 PM ET (1908 GMT).
- US gold futures settled little changed at US$1,776.8.
