ASX to rise, US equities rally on rate cut bets
The probability of a 25 basis point rate cut at the Federal Reserve's mid-September policy meeting increased to more than 90 per cent according to the CME's FedWatch Tool.
'Stocks can continue to move higher, and it is going to take a much larger inflation number – or other shock to the market – for a correction to commence,' Northlight Asset Management's Chris Zaccarelli said.
Among the key results expected on Wednesday: AGL Energy, Commonwealth Bank, Treasury Wine Estates, Computershare, Evolution Mining, IAG and Arena Reit. Follow our reporting season coverage here.
Markets lift bets on September US rate cut, economists hedge: 22 views | The latest US CPI report failed to settle the debate over the impact of tariffs, and whether inflation is poised to gather momentum as the year progresses.
Market highlights
ASX 200 futures are pointing up 21 points or 0.2 per cent to 8859.
All US prices near 2.15pm New York time.
Today's agenda
The second-quarter wage price index will be released at 11.30am. NAB expects a 0.8 per cent quarter-over-quarter rise and a 3.3 per cent year-over-year advance.
Top stories
The policy panic that sent Albanese and Chalmers into private talks | The prime minister and treasurer claim to be on the same page about next week's economic roundtable, even if sometimes it appears otherwise.
| Carolyn McCann is either the hardest worker in lending and just gets things done, or a ruthless executive to be avoided. It depends on whom you ask.
Collapsed developer was warned Ray White loan made no sense | Other lenders to collapsed real estate firm FSM claim that the deal wiped them out for little reason, except that it helped the developer pay his own debt.
| The ASX 300 is now only slightly less expensive than it was back in 2021, when global rates were around zero and governments were spending their way out of the pandemic.
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