Australian shares to recover, as Wall Street jumps on COVID-19 vaccine rollout and stimulus hope

Australian shares are expected to rebound from yesterday’s losses, as global markets staged an optimistic recovery amid COVID-19 vaccine rollouts in the United States.

ASX futures were up 41 points (+0.6pc) by 7:10am AEDT.

The Australian dollar had risen (+0.3pc) to 75.59 US cents, as the greenback hovered near a two-year low.

Overseas, investors watched closely as London and Brussels continued to debate a trade deal after months of inconclusive discussions, and the US Federal Reserve began its final policy meeting for 2020.

Wall Street’s benchmark index, the S&P 500, jumped (+1.3pc) to 3,693 points by 3:10pm (local time).

The Dow Jones index lifted (+1.2pc) to 30,212, while the tech-heavy Nasdaq rose (+1.1pc) to 12,574 points.