Australian shares are poised to rise; US shares rally led by tech stocks; iron ore price rises back over $US150 a tonne. Follow the latest here.
Shares are tipped to open higher on Monday as iron ore’s surge above $US150 and tech’s best week since November 2020 on Wall Street provide relief from the uncertainty around soaring global inflation and war in Ukraine.P/ASX 200’s best week in more than a year last week with a gain of 3.3 per cent.
Jerome Powell speaks at a news conference after the US Fed hiked rates for the first time since December 2018.Strong commodity prices have fuelled the gains as iron ore extended its rally in 2022 to climb 3 per cent to $US151.35 a tonne on Friday,Benchmark Brent Crude oil futures closed up 1.2 per cent to $US107.
On Monday, US Federal Reserve Chairman Jerome Powell is scheduled to talk on monetary policy as inflation reaches 40-year high of 7.9 per cent in the US, with Reserve Bank Governor Philip Lowe scheduled to appear at a Walkley Awards event on Tuesday.
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