Australian shares are poised to rise after April’s US CPI data stoked hopes for a Fed rate cut pivot, propelling all three major US benchmarks to record closing highs and bond yields lower. Gold rallied. Bitcoin leapt, briefly trading above $US67,000.
At the close in New York, the Dow was 0.9 per cent higher, the S&P 500 was 1.2 per cent higher and the Nasdaq Composite advanced 1.4 per cent. The S&P 500 closed at 5308.15 after rising as high as 5311.76. The VIX slid towards its lowest since December.
