The Australian sharemarket is poised to edge higher at the open, tracking gains on Wall Street as oil and gold fell after concerns subsided that Israel’s war against Iran would escalate into a wider conflict.
ASX futures were up 5 points, or 0.1 per cent, at the close of New York trading after the S&P 500 climbed 0.9 per cent and the tech-heavy Nasdaq jumped 1.5 per cent.
Crude prices retreated more than 3 per cent with WTI settling below $US72 a barrel amid reports that Iran was seeking an end to hostilities with Israel after the attacks left crude production and exports unaffected.
The Wall Street Journal reported that Tehran was signalling it wants to de-escalate hostilities with Israel and was willing to resume nuclear talks with the US as long as Washington did not join the Israeli attacks.
Gold edged lower overnight, erasing gains made earlier in the day to trade close to $US3390 an ounce, about $US110 short of an all-time peak set in April.
Source: https://www.afr.com/markets/equity-markets/asx-to-edge-up-wall-street-recovers-as-oil-threat-recedes-20250616-p5m7ws