Australian shares are poised to open higher/ Wall Street advanced modestly as oil shed more than 5 per cent to fall below the $US88 a barrel mark after Iran and Oman pressed forward with a plan to reopen the Strait of Hormuz.
S&P/ASX 200 futures were up 29 points or 0.3 per cent to 9143. The S&P 500 was 0.3 per cent higher at the close in New York, led by a 1 per cent rise in the technology sector.
Oil tumbled overnight as Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the key waterway.
The easing oil prices helped the US 10-year note fall 7 basis points to 4.63 per cent.
Shares in Nvidia rose 2.2 per cent, snapping a seven-day losing streak. The company is set to report quarterly results after Wednesday’s market close (6am on Thursday AEST).
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-tech-paces-modest-wall-st-advance-20260826-p60rjl