ASX to climb as Wall Street stocks, oil prices rise on outlook after aggressive Fed rate hike

Wall St indexes continued to climb after aggressive US Fed outlookAt 7:00 AEDT, ASX futures were up 31 points, or 0.4 per cent, to 7,248.Investors were reassured that Russia may, at least for now, have averted what would have been its first external bond default in a century.

"It's giving investors an increased level of cautious optimism, which is a change from the significant pessimism we've been experiencing since early January," Mr James said. Describing the Fed's plans as dovish, Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York also said the continuation of Russia-Ukraine peace talks helped the mood."There's a potential resolution for the conflict overseas, the positive effects of the Federal Reserve and stocks at a very fair entry point, providing an opportunity to add risk."

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