ASX to rise, oil swings on hopes for peace deal

Australian shares are set to open higher as oil swung lower amid heightening speculation that the US and Iran are close to an agreement to end hostilities and reopen the Strait of Hormuz.

ASX 200 futures were up 35 points or 0.4 per cent to 8681. The S&P 500 closed 0.2 per cent higher, paced by utilities. The Dow Jones Industrial Average closed at an all-time high of 50,285.66, led by IBM, Cisco and Honeywell. Walmart slumped 7.3 per cent.

Source: https://www.afr.com/markets/equity-markets/asx-to-rise-oil-swings-lower-on-us-iran-peace-prospects-20260522-p5zznj