Australian shares are set to rise for a third consecutive day after all three US benchmarks lifted from an uptick in retail sales – a key barometer for consumer confidence.
ASX 200 futures were 53 points, or 0.7 per cent, higher at 7909, edging the index closer to the 8000 mark.
US equities were buoyant after new data showed retail sales rose 0.2 per cent last month – a small rebound from January’s 1.2 per cent decline, which was the biggest drop since 2022. While missing economists’ forecast for a 0.6 per cent advance, February sales still brought some relief that consumer spending was not collapsing amid US President Donald Trump’s global trade war.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-s-and-p-500-extends-broad-rebound-20250318-p5lkam