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US stocks gain as fed hike concerns deflate, with ASX to follow

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Wall Street bounces back from losses induced by rate hike concerns, with the Australian share market set to follow.

Wall Street has bounced back from losses induced by rate hike concerns, with the Australian share market set to follow.The Dow rose 0.3 per cent overnight while the S&P 500 gained 0.4 per cent. The Nasdaq inched up marginally.Oil is wavering and is just over $US100 a barrel for brent. That's as the world mulls up what lockdowns in China and further reserve releases will do to global supply and demand.

Brent plunged more than 5 per cent yesterday, following the International Energy Agency's announcement that US allies will deploy 60 million barrels from stockpiles.Bitcoin is down 0.4 per cent to $US43,536.

 

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ASX to rise, US stocks mixed as rate bets cloud outlookAustralian shares are set to open modestly higher, reflecting a narrow trading range on Wall Street. $A slips, iron ore eases.
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