Wall Street rally to propel ASX higher
Date
6/30/2016 6:36:52 AM
(MENAFN- ProactiveInvestors - Australia) By the close the Dow Jones had rallied 1.6% to 17,410
U.S. stocks surged higher on Tuesday, after calm returned to London markets post-Brexit and oil prices staged a late session rally.
By the close the Dow Jones had rallied 1.6% to 17,410.
The S & P 500 climbed 1.8% to 2036, its best percentage gain in three-months, while the NASDAQ leapt 2.1% to 4692.
That came despite the footprint of sportswear maker Nike (NYSE:NKE).
The shares of Nike fell 6.5% to $53.09 in after-hours trading late on Tuesday after the apparel maker said a key indicator of future sales missed Wall Street estimates in its last quarter.
The Oregon-based group said worldwide futures orders, or orders that retailers make for delivery over the next few months, rose by 11% on a year-on-year basis.
Oil & Gold
Investors raced back into the oil market overnight, with West Texas Intermediate climbing 3.3% to US$47.85 a barrel.
The gold bulls paused overnight, with bullion for August delivery easing 0.5% to US$1318 an ounce. <
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