UPDATED: A dizzying relief rally for US equities is set to flood the Australian sharemarket after US President Donald Trump pulled back from his trade war with China.
ASX 200 futures are pointing up 1.2 per cent, or 97 points, to 8364, putting the bourse on track for its best day in almost three months.
US stocks celebrated the announcement on Monday that America and China had temporarily agreed to dramatically lower tariffs on each other for 90 days.
A surge in technology stocks lifted the Nasdaq Composite 4.4 per cent, while the Nasdaq 100 returned to a bull market – less than a month after it plunged 20 per cent from a previous record. At the close in New York, Amazon rose 8.1 per cent and Meta was up 7.9 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-wall-st-surges-in-trade-relief-rally-20250513-p5lyma