ASX LIVE: Australian shares to rise, Wall Street swings wildly on inflation data, interest rate bets

US stocks leapt higher in the first half hour of trading as investors welcomed cooling inflation; however, investors opted to sell the rally, the Dow briefly turned negative. The Dow was modestly positive in afternoon trade.

Oil rebounded above $US80 a barrel, while gold retook the $US1800 an ounce mark. The spot price of iron ore held above $US110 a tonne on Tuesday, even as COVID cases spiked in Beijing. ASX futures were up 14 points or 0.19 per cent to 7228 at 6.45am AEDT; they were modestly negative at 6am after having been more than 40 points higher at 5am.Tesla -3.7% Apple +0.5% Amazon +2.1% Alphabet +2.9%

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