AUS
NZ
UK
CA
USA
IND
Highlights
The Australian shares are set to open over 1% higher on Wednesday.
The latest ASX Futures indicate that ASX 200 index would start the day 79 points or 1.2% higher.
On Wall Street, the Dow Jones surged 2.4%, the S&P 500 rose 2.75%, and the NASDAQ ended 3.1% higher.
The Australian shares are set to open over 1% higher on Wednesday morning after major Wall Street indices rallied over 2% in the overnight trade on account of strong corporate earnings.
The latest ASX Futures indicate that the benchmark ASX 200 index would start the day 79 points or 1.2% higher. On Tuesday, the ASX 200 closed 0.55% lower at 6,649.6 points.
Meanwhile, the market today would also closely watch a speech from Reserve Bank of Australia’s (RBA) Governor Philip Lowe.
On Wall Street, the Dow Jones surged 2.4%, the S&P 500 rose 2.75%, and the NASDAQ ended 3.1% higher.
The pan-European STOXX 600 index surged 1.38%. MSCI's gauge of stocks across the globe advanced 2.05%, scripting its biggest one-day percentage gain since 24 June 2022.
Bank of Japan, along with European Central Bank (ECB) is scheduled to meet on Thursday.
Bond yields
The US Treasury yields surged on Tuesday on account of upbeat market sentiment, with both 2 and 10-year bond yields hovering over 3% throughout the session.
- 2-year yield: US 3.23%, Australia 2.72%
- 10-year yield: US 3.02%, Australia 3.50%
The US dollar index declined 0.661%, while the euro was up 0.81% at US$1.0223.
Oil prices rise
Oil prices rose on Tuesday on tight supply conditions. Traders also weighed the possibility of looming recession having an impact on the demand.
- WTI crude ended up 1.58% at US$104.22 per barrel.
- Brent crude closed at US$107.35, up 1.02% on the day.
Gold prices remain flat
Gold prices almost remained flat as investors braced for cues on the pace of interest rate hikes from major central banks in July.
- US gold futures closed mostly unchanged at US$1,710.70.
Meanwhile, Chinese steel futures surged as the government came up with measures to deal with financial stress in the country’s property sector. But iron ore prices declined on weak demand.
Copper prices dipped on demand concerns in China and other parts of the world due to a growth slowdown in wake of rising inventories. However, a weakening dollar offered some support.
Benchmark copper on the London Metal Exchange (LME) was down 1.7% to US$7,298 a tonne at 1602 GMT, a fall of more than 30% since a record US$10,845 a tonne in March.
