ASX to rise as Wall Street rallies; Silver surges

Summary

• ASX futures are up 52 points, or 0.8%, and hint that the local market will build on Monday’s 0.8% rise 
• Wall Street repaired some of last week’s damage with strong overnight gains. Big tech shares soared, while mining companies rose as the retail trading frenzy shifted to silver
• Oil prices jumped more than 2.5%, but Iron ore slipped 0.9% to $US157.07 a tonne. Gold’s gains were outpaced by silver, which briefly rose above $US30 an ounce for the first time since 2013
• The Reserve Bank of Australia will release its February policy decision at 2.30pm AEDT. The central bank is not expected to change settings.