Australian Stock Market Set to Open with Significant Gains

Deep News05-19 07:20

Australian stocks are expected to rebound sharply from a weak start to the week, following U.S. President Trump's announcement that he would suspend plans for strikes against Iran at the request of Gulf state leaders. Ahead of Tuesday's trading session, local stock index futures rose 1.1%, indicating that the S&P/ASX 200 index is poised to recover from a nearly 1.5% drop that had pushed it to a seven-week low. The benchmark index has fallen more than 5% over the past month amid concerns about the potential economic impact of tensions with Iran. On Tuesday, the Reserve Bank of Australia will release the minutes from its latest interest rate meeting, offering investors potential insights into its forward-looking policy considerations. In the U.S., the Dow Jones Industrial Average gained 0.3%, while the S&P 500 and Nasdaq Composite declined 0.1% and 0.5%, respectively.

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