ASX set to rise following Wall Street gains
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The news: The Australian sharemarket is poised to open higher early on the last trading day before Christmas.
The major US markets were all higher in late trading after economic data raised optimism that the Federal Reserve would ease monetary policy.
The numbers: ASX 200 futures were higher by 0.53% at 7520.
On Wall Street, the S&P 500 was up 43 points, or 0.92%, to 4,741 points.
The Dow Jones Industrial Average was higher by 280 points, or 0.76%, to 37,362.
The technology-based Nasdaq was higher by 168 points, or 1.14%, to 14,946.
The context: The markets were influenced by third-quarter US economic data that showed growth not as robust as originally stated.
Weekly unemployment claims data showed cracks appearing in the tight labour market. The US Federal Reserve considers this an obstacle to cooling inflation.
The source: Reuters
