Australian shares are expected to advance following US investors digesting disparate economic data and buying tech stocks hit during Tuesday’s selloff.
Australian shares are set to advance following US investors digesting disparate economic data and buying tech stocks that were hit during Tuesday’s selloff.The Australian dollar was up 1.7 per cent at US68.40¢.
Earlier, stocks vacillated after job openings data pointed to a resilient labour market, which remains a concern for the Fed.Gains in Apple and Tesla – after Tuesday’s slump on demand issues – buoyed both US equity benchmarks. Microsoft’s decline, meanwhile, weighed on the indexes. Treasuries pared earlier gains, with the 10-year rate around 3.71 per cent. The US dollar dropped.
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