ASX set to gain after Wall Street climbs for a second day in a row

Australian shares are expected to open higher after a strong day on Wall Street boosted by corporate earnings.European rallies also had a strong trading dayASX futures were up 1 per cent to 7,295 around 6.10am AEST.On Wall Street, all three indexes ended trading close to 1 per cent higher.

The bond market's 10-year Treasury yield is driving the equity markets, rising 8 basis points to 1.295 per cent on Wednesday after 5 month low on Monday.The spot price of iron ore fell 2.8 per cent to $US214.79 a tonne. Pharmaceutical company Johnson & Johnson forecast $USD2.5 billion in sales from its one-shot COVID-19vaccine this year, closing up a modest 0.6 per cent.

"But we're seeing strong earnings with generally positive guidance, and the feeling that can be managed.""Earlier in the week those stocks suffered because of renewed fears that travel will slow down and all related industries will suffer, but those fears have gone away," he said.

ASX gains serve only to gauge how much Corporate is screwing out of the Australian Taxpayers....

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Source: SkyNewsAust - 🏆 7. / 78 Read more »