Shares are set to open higher; BHP review pending; Trump sees 60 to 100 per cent tariffs on Chinese imports; spot bullion climbs past peak. Follow updates here.
Australian shares are poised to rise at the open, tracking gains on Wall Street as traders firm their bets on a September interest rate pivot by the Federal Reserve. ASX futures rose 55 points or 0.7 per cent near 7am AEST. BHP is scheduled to release an operational review for the year ended June 30 at 8.30am AEST. In New York, the Dow rose 743 points or 1.9 per cent higher to a record closing high of 40,954.48. The S&P 500 rose 0.6 per cent to 5667.20.
66 an ounce, moving past the previous all-time peak set in May. “Today, we are witnessing the broadening of the US stock market rally that many have been waiting for, and for good reason,” Mohamed El-Erian said in a post on X. The yield on the US 10-year note slid 7 basis points to 4.16 per cent at 4.59pm. The probability of a rate cut at the Federal Reserve’s September 17-18 policy meeting reached 100 per cent, according to CME futures.
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