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Highlights
The Australian share market is set to surge on Thursday.
The latest SPI futures indicate that the ASX 200 would open 113 points or 1.75% higher.
On Wall Street, the Dow Jones surged 1.9%, the S&P 500 gained 2% and the NASDAQ ended 2.05% higher.
The Australian share market is set to surge on Thursday after Wall Street witnessed a big rebound in the overnight trade. The global sentiment rose marginally after the Bank of England (BoE) said it would step in to ease distressed bond markets.
The latest SPI futures indicate that the ASX 200 would open 113 points or 1.75% higher. On Wednesday, the benchmark index closed 0.5% lower at 6,462 points.
Meanwhile, Arena REIT, Centuria Industrial REIT, and Charter Hall Social Infrastructure REIT are set to go ex-dividend today. Link Administration Holdings too would trade ex-dividend for its special dividend.
On Wall Street, the Dow Jones surged 1.9%, the S&P 500 gained 2% and the NASDAQ ended 2.05% higher.
In Europe, the Stoxx 50 rose 0.2%, the FTSE surged 0.3%, the CAC gained 0.2%, and the DAX ended 0.4% higher.
Bond yields
In the past week, investors were concerned about soaring bond yields, as central bankers across the world raised interest rates to tackle inflation before it tips the global economy into recession. Earlier in Asia, the yield on benchmark US 10-year Treasuries briefly topped 4% to hit a 12-year high of 4.004%. The yield later fell 16.2 basis points to 3.801%.
The dollar index was last at 112.660 after hitting a fresh 20-year high of 114.78.
Oil prices rise
Oil prices rose on Wednesday after US fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand.
- WTI crude rose 4.5% to US$82.06 per barrel.
- Brent crude was at US$89.22, up 3.4% on the day.
Gold prices gain
Gold prices received a boost from softer US dollar.
- Spot gold gained 2% to US$1,660.79 an ounce.
- US gold futures rose 2.04% to US$1,659.70 an ounce.
Iron ore inches higher
Chinese rebar futures rose on signs of increased government support for the troubled property sector and stimulus measures to boost the struggling domestic economy.
Benchmark January iron ore on China's Dalian Commodity Exchange fell 0.5% to 711.50 yuan (US$98.43) a tonne.
