Live updates: Australian share market to rise, Nasdaq hits record close after Powell reassures investors

A rally on Wall Street is likely to send Australian stocks higher, while investors await Wednesday's crucial US consumer inflation report.Disclaimer: thisThe plans to turn Australia into a renewable superpower

The government is budgeting $1.5 billion over seven years to support renewables and clean technology projects, a further $1.7 billion over a decade in the Future Made in Australia Innovation Fund, and $549 million over eight years to support domestic battery manufacturing, all managed by ARENA.

Investors were also encouraged by Powell's comment that he did not expect the central bank's next interest rate move to be a hike, despite a recent run of higher-than-expected inflation.

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