ASX to rise; Wall St jumps, Wesfarmers’ profit slips

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The tech heavy Nasdaq jumped 1.67pc on as Wall Street closed higher ahead of a Jackson Hole speech by Fed chair Powell. Follow the latest here.

Australian shares are set to open slightly up as Wall Street continues to tread water despite better-than-expected joblessness figures and economic data.P 500 +0.6% Nasdaq +1.1%The local currency was +1% to 69.76 US centsThe yield on the US 10-year note declined seven basis points to 3.04%.

Overseas data: China Industrial Profits Jul; Euro zonepersonal income Jul, personal spending Jul; PCE Core Jul;AUD +1% to 69.76 US centsIn New York: BHP +2.3% Rio +0.9% Atlassian +1.8%Spot gold +0.4% to $US1,757.59 /oz at 1.44pm New York timeIron ore -0.2% to $US102.25 a tonne10-year yield: US 3.04% Australia 3.67% Germany 1.31%

 

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