Company Interview / the open: ASX to climb, S&P 500 eyes record

The local market is set for a strong opening with ASX futures up 0.6%. 

On Wall Street renewed expectations of rate cuts spurred investors, driving the S&P 500 and Nasdaq close to their record highs with a number of economic indicators supporting the case for the Federal Reserve to lower borrowing costs this year. 

The US dollar has fallen to a three-and-a-half-year low against the euro and sterling in a broad selloff as traders priced in the likelihood that the Federal Reserve will cut rates more than previously expected. The Australian dollar has risen to US65.5c.

 Oil prices have continued to rise with brent crude futures increasing 0.4% to $68 a barrel. Copper has jumped 2.8% to a month high, whilst iron ore rose 0.9% to $93 a tonne. Meanwhile, gold is little changed at $3330 an ounce.