Australian shares are expected to start the day higher after Wall Street ended higher while oil continued to slide.
The Dow Jones index rose 0.2 per cent, to 31,038, the S&P 500 gained 0.4 per cent, to 3,845 and the Nasdaq Composite added 0.4 per cent, to 11,362ASX futures were up 37 points or 0.6 per cent to 6,530 at 6:51am AEST.Wall Street put a seesaw day behind it to close higher on Wednesday, as investors digested new clues on the US central bank's approach to rate policy and its inflation fight detailed in the minutes from the latest Federal Reserve meeting.
The minutes were a firm restatement of the Fed's intent to get prices under control to address stubborn inflation and concern about lost faith in the central bank's power. Prior to the minutes' publication, investors had been pricing in another 75-basis-point rate increase at the upcoming July 26-27 gathering, meaning the fact that both 50 basis points and 75 basis points remained on the table pointed toward the Fed acknowledging the impact of its rate rises on the economy.
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