Australian shares are poised to rise as the US megacap techs powered higher and the Bank of Canada bolstered hopes for global rate cuts by cutting its key rate and signalling plans for another cut in July.
The S&P 500 rose 1.2 per cent to close at 5354.03, its 25th record closing higher in 2024. The Nasdaq Composite leapt 2 per cent to 17,187.91, also a closing record.
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Timothy Moore writes on monetary policy, equities, commodities and currencies. He is the overnight markets editor and writes Before the Bell. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
