Australian shares set to start higher as Middle East tensions ease
Make us a preferred source
Make us a preferred source on Google
The news: The Australian sharemarket is set to start higher despite a mixed result on Wall Street on Friday, with geopolitical tensions easing in the Middle East.
The numbers: The Dow Jones index ended 0.56% higher on Friday, but the broader S&P 500 lost 0.88% and the tech-heavy Nasdaq slid 2.05%. In the local market, ASX 200 futures were up 27 points or 0.36% at 7621 points at 7:00am AEST on Monday.
The context: Tensions in the Middle East appeared to plateau after Tehran downplayed Israel's retaliatory drone strike against Iran, a move that seemed geared toward averting regional escalation.
Earlier, shares on Wall Street closed lower amid that backdrop as well as uncertainties around central bank policy, resulting in the S&P 500 and the Dow registering their steepest weekly percentage losses since March 2023.
Investors will be eyeing earnings from major tech firms as well as US GDP figures this week. In the local market too, traders will be focused on March quarter inflation data on Wednesday that could determine the path for interest rate cuts by the RBA.
The source: Reuters
