ASX to rise, Wall St rallies as recession fears fade
Timothy MooreBefore the Bell editor
Updated
Australian shares are poised to rise, in line with a rally in New York, after the latest weekly jobless claims data helped further ease concerns about the US economy falling into recession. Gold and oil rallied, as did bitcoin.
At 4pm in New York, the S&P 500 was 2.3 per cent higher to 5319.31. That was the benchmark’s biggest rally since November 2022.
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