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ASX to rise, Wall Street boosted by US-China trade optimism and strong earnings

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Australian shares are set to open higher after Wall Street is boosted by a stronger-than-expected profit reporting season.

Australian shares are set to open higher after Wall Street was boosted by optimism about upcoming US-China trade talks and a stronger-than-expected profit reporting season.AUD: 70.04 US cents, 56.3 British pence, 62.79 euro cents, 75.8 Japanese yen, $NZ1.04Europe: FTSE 100 +0.6pc at 7,557, DAX +1.6pc at 12,491, CAC +0.9pc at 5,618, Euro Stoxx 50 +1.2pc at 3,533

Expectations the Federal Reserve will cut interest rates at its policy-setting meeting next week have made investors more willing to buy stocks. Coca-Cola shares surged 6.1 per cent to a record high after the drink maker beat quarterly earnings expectations and raised its full-year organic revenue forecast.

White House economic adviser Larry Kudlow told reporters on Tuesday the in-person talks to resolve the US-China trade deal were a good sign.

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