Wall Street Rally Boosts Australian Stocks

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A rally on Wall Street is likely to send Australian stocks higher, while oil prices eased on the lessening of 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 ounceIs Australia's economy facing a Wile E Coyote moment?

All three major US stock indexes closed up more than 1 per cent, bouncing back from the previous week's sell-off. Third-quarter earnings season, firing on all cylinders, has reached its halfway point, with 251 of the companies in the S&P 500 having reported. Of those, 78 per cent have beaten Wall Street estimates, according to LSEG.

In the coming week, Caterpillar, Apple, Pfizer and Starbucks are among the higher-profile companies expected to post results.

 

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