Australian shares are poised to extend their rally after US equities reset records on hopes that Federal Reserve policymakers have strengthened the case for a soft landing. Techs surged as did bitcoin, and gold moved towards a record. The Australian dollar was trading above US68¢.
Both the S&P 500 and the Dow reset their respective record highs. The S&P 500 topped 5700 for the first time, and closed at 5713.64. The Dow topped 42,000 for the first time, closing at 42,025.19.
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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
