Business
ASX to rise, Wall Street bounces, oil drops – The Australian Financial Review
Australian shares are poised to open higher, lifted by a rebound in US stocks. Oil retreated as a key US pipeline restarted. Bitcoin plunged.
The S&P 500 gained 1.2 per cent to 4112.50; 10 of its 11 industry groups were higher, paced by industrials, financials and utilities. The Nasdaq rallied 0.7 per cent even though the NYSE Fang + Index slid 0.7 per cent.
After leaping the previous session, the VIX slumped 16 per cent.
An early in the day rally in tech stocks in New York was tempered amid heightening tensions between the US and China.
US Trade Representative Katherine Tai said that expired exclusions from Section 301 tariffs on Chinese…
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