Wall Street Rally Boosts Australian Stocks, Oil Prices Ease

Disclaimer: thisOn Wall Street: Dow up 1.6 per cent, S&P 500 up 1.2 per cent, Nasdaq up 1.2 per cent.Spot gold: Flat at $US1995.49 an ounceRBA warns of 'a regime shift characterized by structurally higher interest rate volatility'

"The post-GFC era of exceptionally low interest rate volatility gave rise to a new generation of investment business models and strategies. The deal requires 75 per cent support from the votes cast at a shareholder meeting, meaning AustralianSuper's holding could be enough to scupper the bid if not all shareholders vote.

"Given that AusSuper felt the need to go public it suggests that maybe they're not that close to a deal. It's hard to say definitively that the takeover won't happen as someone could still blink before the vote but it’s not a good sign." Poultry producer Inghams surged 9.2 per cent to $3.73 after the company said it expects $247 million in statutory earnings before interest, tax and amortisation in the first half of 2024.

All three major US stock indexes closed up more than 1 per cent, bouncing back from the previous week's sell-off. Analysts now expect, on aggregate, annual third-quarter S&P 500 earnings growth of 4.3 per cent, a marked improvement over the 1.6 per cent year-on-year growth seen at the beginning of October.

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