Australian shares are poised to rise as US stocks surged, reflecting near record profits at four of America’s largest banks and a further cooling in core US consumer prices last month.
ASX futures were up 104 points or 1.3 per cent near 8am. Oil gained as the impact of new sanctions against Russia spread, US inventories tightened and news of the ceasefire deal between Israel and Hamas. Bitcoin briefly traded above $US100,000.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
