Australian shares are set to open higher, tracking Wall Street’s recovery, which got a late boost from news that US President Donald Trump plans to meet Chinese counterpart Xi Jinping next week.
Gold bounced, oil surged, and bitcoin steadied near $US110,000. Tesla and Amazon paced all seven of the magnificent seven higher. Tesla closed up 2.3 per cent, reversing a more than 4 per cent early tumble.
The focus is shifting to the release late Friday of the US September consumer price index report. Given the US federal government shutdown, it is one of the few data prints leading into next week’s Federal Reserve policy meeting.
Source: https://www.afr.com/markets/equity-markets/asx-to-edge-higher-oil-leaps-on-us-sanctions-against-russia-20251024-p5n4wx