ASX to rise; Biden optimism drives Wall Street to new records

Summary

• ASX futures were up 0.7% at 6757.0,  hinting that the local market will build on yesterday’s 11-month high
• Wall Street surged to new peaks on the first day of Joe Biden’s presidency. The S&P 500 added 1.4%, the Dow rose 0.8%, and the Nasdaq 2%
• Iron ore slipped 0.4% to $US170.55 a tonne, but spot gold and oil were higher. The Aussie dollar jumped to an overnight high of 77.60 US cents and was last 77.47 US cents
• December employment figures are due at 11.30am AEDT. The market is expecting an extra 50,000 jobs and for the unemployment rate to fall from 6.8% to 6.7%