The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Australian shares are set to open in the green, following a sixth straight night of gains on Wall Street.

The S&P and NASDAQ logged 14-month highs. The New York Stock Exchange also climbed more than one per cent.

All 11 US sectors advanced overnight, with communication and tech stocks winning the day. Tech giants Microsoft and Oracle both gained an uptick of more than three per cent. Apple increased just one per cent.

While US jobless claims surpassed expectations, sales unexpectedly rose in May, with data showing consumers increased spending on vehicles and building materials. The news could help stave off a recession in the near term.

Turning to foreign exchange, and the Australian dollar climbed to its highest point since February. One Aussie dollar is buying 69 US cents and 54 British pence.

The euro hit a 15-year peak against the Japanese yen and a five-week-high against the dollar. It comes as the European Central Bank lifted interest rates to a two-decade high of 3.5 per cent, with the bank warning of more hikes to come.  

Iron ore sailed up to an 11-week high of US$114.50 per tonne. China is still considering a stimulus package for its real estate sector, with the commodity considered a key material to the building and construction industry.

More From The Market Herald

This merger could shake up the Aussie vanadium sector – if shareholders approve

The ASX is set to see a new major Vanadium player on the bourse with a…

ASX December IPO roundup: 6 stocks to watch

After another slow year for IPOs in 2023, the ASX is set to see a flourish…

Shaping Australia’s tech-infused mining industry

According to the Minerals Council of Australia, the nation's mining sector has invested $30 billion in…
The Market Herald Video

TMH Market Close: ASX200 adds 0.3pc as energy sector leads gains

The ASX200 added 0.3 per cent today –  thanks largely to the energy sector which was…