Australian shares are set to advance. Quarterly mining production reports pending. Wall Street rises on techs. $A rebounds. Follow updates here.
Australian shares are set to open higher, bolstered by overseas gains with New York boosted by tech stocks. Both oil and gold eased on hopes that Israel’s response to the Hamas attacks will be more measured than previously expected. ASX futures were up 48 points or 0.7% to 7095 near 7am AEDT. NZ will release its latest quarterly CPI stats at 8.45am and the RBA will release minutes from its latest board meeting at 11.30am.
While that confidence level may have waned a bit this past week, many are still leaning more long than they would like to reduce the probability of missing out in a year in which narrow mega cap strength has driven benchmarks.” Still, Morgan Stanley is cautious on the outlook for equities and continues to advise on a defensive strategy.
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