Business
ASX set for gains as Wall Street rallies late – Sydney Morning Herald
Wall Street stocks rose in a late-day rally on encouraging employment statistics and an optimistic speech from President Joe Biden.
Wall Street stocks rose in a late-day rally on Thursday (US time) as investors bought stocks likely to do well in the recovery, while picking up beaten-down Apple and Tesla shares, in anticipation that the US economy grows at its fastest pace in decades this year.
President Joe Biden cited as economic progress Labor Department data that showed a declining number of Americans claimed unemployment insurance, news investors shrugged off earlier as Wall Street traded lower most of the session.
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