ASX to rise, Wall St rallies as oil drops

Australian shares are set to open higher, bolstered by gains in New York as oil briefly fell below $US110 a barrel after two senior Trump administration officials argued that Iran’s latest violations did not break the ceasefire.

ASX 200 futures were up 38 points or 0.4 per cent to 8719 near 6.10am AEST. The S&P 500 rose 0.8 per cent as materials and information tech paced all 11 industry sectors higher. The Nasdaq Composite gained 1.03 per cent, resetting its record high during the session.

Source: https://www.afr.com/markets/equity-markets/asx-to-rise-wall-st-rallies-and-oil-drops-as-ceasefire-holds-20260506-p5zu45