Wall Street hits fresh record as Australian markets poised for rise
U.S. equities closed at new highs, prompting Australian futures to point toward a modest gain at the week’s start.
Wall Street’s benchmark S&P 500 climbed to a new peak, driven by robust corporate results and a softening outlook on Federal Reserve rate hikes. The Dow and Nasdaq also posted gains, with the latter up over 1%. In Europe, the DAX, FTSE and Eurostoxx all posted modest advances.
Australian markets responded positively, as the ASX 200 futures suggested a 0.4% rise, enough to challenge the previous record close. The Australian dollar appreciated to 70.67 US cents, while gold and oil prices edged higher amid lingering geopolitical uncertainty. Shares of Atlassian surged more than 35%, Microchip rose nearly 14%, and SpaceX jumped 15.8% after a lock-up restriction lifted. The week also features an RBA rate decision and earnings releases from major firms such as CBA, Telstra, Car Group and Westpac.
Why it matters
Global equity gains and commodity moves influence investor sentiment and Australian market outlook this week.
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