Australian shares are set to open higher, reflecting enduring optimism on Wall Street that helped lift both the S&P 500 and Nasdaq Composite to record highs.<\/p>\n
All three US benchmarks faded their morning highs in afternoon trade.<\/p>\n
A key reason for the latest move higher in US equities is a positive start to the June quarter reporting season. <\/p>\n
\u201cWe expect a more dovish tone from next week\u2019s [Federal Open Market Committee\u2019s] statement and [chairman Jerome] Powell\u2019s press conference,\u201d veteran market strategist Ed Yardeni said in a note.<\/p>\n
\u201cIf so, that would continue to fuel the bull market in stocks, especially since the Q2 earnings reporting season should continue to beat expectations. The blended (actual\/estimated) S&P 500 earnings per share growth rate edged up to 4.3 per cent year-over-year last week. It should be closer to 8.0 per cent when all the results are in.\u201c<\/p>\n
Market highlights<\/p>\n
ASX futures are pointing up 16 points or 0.2 per cent to 8664.
All US prices near 3.30pm New York time.<\/p>\n
AUD +0.3% to US65.25\u00a2Bitcoin -1% to $US117,333On Wall St: Dow +0.1% S&P +0.3% Nasdaq +0.5%VIX +0.16 to 16.57Gold +1.4% to $US3398.05 an ounceBrent oil -0.3% to $US69.05 a barrelIron ore +3.1% to $US103.90 a tonne10-year yield: US 4.37% Australia 4.32%Today\u2019s agenda<\/p>\n
The RBA will release the minutes from its latest meeting on Tuesday at 11.30am.<\/p>\n
NZ trade balance data will be released at 8.30am.<\/p>\n
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