Overview
Australian shares are set to open higher, bolstered by further gains in New York where both the S&P 500 and the Nasdaq Composite each reset their record highs to start the week.
Energy shares paced the advance as President Donald Trump told reporters the Iran ceasefire was on “massive life support”. He also said Tehran’s proposal sent through on Sunday night was “a piece of garbage”.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-s-and-p-500-extends-its-run-as-oil-gushes-higher-anew-20260512-p5zvu2