ASX set to follow Wall Street higher; Commodities rise

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Summary

  • SPI futures are up 0.6% and point to early gains for the ASX200 on Tuesday
  • US markets rose strongly overnight. Investors bought sectors hardest-hit by the coronavirus recession, most notable the financials and energy firms
  • Spot gold is up 1.1% to $US1881.77 an ounce, Brent crude rose 1.2% to $US42.43 a barrel, US oil lifted 0.8% to $US40.58 a barrel, and iron ore rose 0.8% to $US116.15 a tonne
  • Atlassian co-founder Scott Farquhar is backing Australian startup Airwallex in a $US40 millionĀ  fundraising which values the company at $US1.8 billion
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Good morning

Good morning, and welcome to Markets Live. Guiding you through today’s session is Alex Druce.

We’re set for early gains after a strong overnight session on Wall Street, where bargain hunters gave the downtrodden energy and financial sectors a bit of love.

Commodity prices edged higher overnight, with gains for gold, oil and iron ore.

This blog is not intended as financial advice

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