Shares in Australia are expected to open higher on Monday after stocks strengthened in the United Stocks on Friday.
The ASX 200 index should start about 0.2% above the previous finish, based on Australian Securities Exchange (ASX) futures trading, which quoted the March share price contract 16 points higher at 9,047 points.
Although Wall Street’s three benchmarks were boosted by the United States Supreme Court striking down most of President Donald Trump’s tariff measures, he has since bypassed the ruling by raising tariffs under a different law.
The Dow Jones Industrial Average rose 0.5%, the S&P 500 added 0.7%, and the Nasdaq Composite put on 0.9% on Friday (Saturday AEDT).
The Supreme Court ruled 6-3 against Trump's global tariffs, a decision which Trump called a “disgrace”, prompting him to impose a 10% tariff on all imports for 150 days under Section 122 of the Trade Act of 1974.
Horizon Investments head of research and quantitative strategies, Mike Dickson, said investors were relieved the new global tariff was not higher.
"Today is a removal of some uncertainty, and we're on to the next phase," Dickson was quoted in a Reuters story as saying.
The Australian market had finished slightly lower on Friday, with the ASX 200 ending 0.05% down at 9,081.4 points, with six of the 11 sectors losing ground as corporate reporting continued.
Companies reporting today include Reece (ASX: REH), Chorus Ltd (ASX: CNU), NIB Holdings (ASX: NHF), Perpetual (ASX: PPT) and Lendlease (ASX: LLC).
In fixed interest markets, Australian Government bond yields rose with two-year rates up 0.02% to 4.230% and 10 year rates off by 0.15% to 4.751%.
