ASX to rise, retailers lift Wall St

Australian shares are poised to rise, in line with gains on Wall Street on positive retailer earnings.On Wall St at 1.55pm: Dow +0.9% STesla -0.3% Apple -0.01% Amazon +1.8% Walmart +6.1%On bitstamp.net, bitcoin was 1 per cent lower to $US23,860 at 3.45am AEST.Advertisement

In its August monthly survey of global fund managers, the bank found “sentiment remains bearish, but no longer apocalyptically bearish as hopes rise that inflation and rates shocks end in coming quarters”. Target, which also warned on profit twice within the last few months, will report its second-quarter earnings on Wednesday.

The continent-wide STOXX 600 index inched up 0.2 per cent, hitting a fresh 10-week high after recouping much of its June losses this week. The British bank now sees Brent crude averaging $US103 this year and next, and US West Texas Intermediate to average $US99 for both years.China’s refinery processing and crude imports were unambiguously weak in July, but the world’s largest oil importer still added to stockpiles, maintaining a trend of building inventories.

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