Yahoo Finance Welcome boost in store for the ASX after US-China tariff news
The Australian share market is set to follow Wall Street higher at the open following reports the next round of US tariffs on Chinese goods has been put on hold.
The SPI200 futures contract was up 14 points, or 0.24 per cent, to 5,761.0 at 0700 AEDT on Friday, pointing to a slight rise for the ASX, after a rally in the last hour of trade wiped out heavy afternoon losses on Thursday.
Also read: These are the happiest and unhappiest jobs in Australia
US stocks lifted sharply from an overnight lull after reports US Trade Representative Robert Lighthizer told industry executives additional tariffs on Chinese imports have been held off.
The US has already put 10 per cent tariffs on about $200 billion Chinese goods and President Donald Trump had threatened more to get China to the bargaining table.
Also read: Property spruiker fined record $18 million
In late trade, The Dow Jones Industrial Average was up 178.59 points, or 0.71 per cent, at 25,259.09, the S&P 500 was up 24.55 points, or 0.91 per cent, at 2,726.13 and the Nasdaq Composite was up 106.02 points, or 1.49 per cent, at 7,242.42.
Meanwhile, the Australian dollar has climbed to a near three-month high of 72.90 US cents, up from 72.74 US cents on Thursday.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
