A rally on Wall Street has sent Australian stocks higher, while oil prices ease on lessening fears about the Israel-Gaza war disrupting supply from the region.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: Down 0.5 per cent to $US1995.85 an ounceThe Australian sharemarket has started the day higher, helped by energy and financial stocks.Poultry producer Inghams surged 9.2 per cent to $3.
The price of rentals has also dropped by 7.4 per cent, compared with a 14.6 per cent rise nationally.Wall Street rallied on Monday, kicking off what promises to be a hectic week that includes a heavy earnings docket, economic data and the Federal Reserve's two-day monetary policy meeting. "Today is an earnings rebound," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. "The market got oversold, and the reality is that earnings have been pretty good, the US economy continues to chug along, and is likely to do so in the fourth quarter and into the first part of next year."
Investors have shown "less pessimism," Pursche added. "First- and second-quarter calls had a more negative tone. There was anxiety over interest rates, Fed policy, the recession that never came."
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