The Australian share market is expected to edge higher when trading begins, after Wall Street indices rose on positive economic data as investors await guidance on interest rate hikes from the US central bank.
abc.net.au/news/markets-wall-street-dow-jones-asx/101373884The Australian share market is expected to edge higher when trading begins after Wall Street indices rose on positive economic data as investors await guidance on interest rate hikes from the US central bank.The tech-heavy Nasdaq was the best performing US indexASX SPI 200 futures were up by 0.1 per cent to 6,980, by 6:55am AEST.On Thursday, the ASX 200 index lifted 0.
Mr Powell is expected to reiterate the US central bank's position on putting a lid on infiltration by aggressively hiking rates."We're in a period of time between the end of the second-quarter earnings season and meaningful additional data from the Federal Reserve," Bill Northey, senior investment director at US Bank Wealth Management said.The fed funds rate is now in a range of 2.25 per cent to 2.5 per cent. The terminal rate of 3.50 per cent to 3.
Nvidia jumped 4 per cent after the graphics chipmaker gave a weaker-than-expected quarterly forecast that many investors viewed as signalling the worst of a sales downturn may be over. All 11 S&P 500 sector indexes rose, led by materials up 2.2 per cent, followed by a 2 per cent gain in communication services.
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