Australian shares are expected to extend gains on Wednesday, tracking a positive session on Wall Street overnight as investors anticipate further signs of trade negotiations in the United States.
As of 7 am AEST, ASX futures were up 28 points, or 0.3%.
Overnight, major U.S. equity benchmarks advanced. The Dow Jones Industrial Average rose 0.8%, the S&P 500 gained 0.6%, and the Nasdaq Composite also added 0.6%.
Investor sentiment improved following remarks from U.S. Treasury Secretary Scott Bessent, who signalled progress on trade agreements with countries including Japan and India.
The White House further supported market optimism by announcing that President Donald Trump would lift certain auto tariffs.
Domestically, the focus is on today’s consumer price index data. Annual trimmed-mean inflation is forecast to ease to 2.9%, placing it within the Reserve Bank of Australia’s target range of 2% to 3%.
On local bond markets, the 10-year yield dropped 0.7% to 4.136%, while the 2-year yield fell 0.6% to 3.256%.
