Investing.com - The Australian stock market is set to experience an increase on Wednesday, building on the largest single-day surge the market has seen in the past three months.
ASX 200 Futures indicate a 1.2% rise, following a 1.4% leap in the local market on Tuesday. Meanwhile, Wall Street's performance was less impressive, with the S&P 500 only managing a 0.1% increase by the end of the trading day. The Dow Jones Industrial Average saw a marginal rise, while the NASDAQ Composite experienced a small decline.
In the New York market, Palantir Technologies Inc (NYSE:PLTR) shed 15% due to an outlook that fell short of expectations. Walt Disney Company (NYSE:DIS) shares also took a significant hit, with a 9.5% fall. Reddit Inc (NYSE:RDDT), on the other hand, saw a surge in after-hours trading.
In Australia, ANZ (ASX:ANZ) is maintaining its prediction for a November rate cut from the Reserve Bank, following the central bank's decision to keep rates steady on Tuesday.
Several companies will be in the spotlight on Wednesday. Arcadium Lithium PLC DRC (ASX:LTM), Goodman Group (ASX:GMG), and Virgin Money PLC (ASX:VUK) are all set to release earnings, while GPT Group (ASX:GPT) and Smartgroup Corporation Ltd (ASX:SIQ) will hold their Annual General Meetings. Additionally, Resmed Inc DRC (ASX:RMD) will trade ex-dividend.
On the bond markets, Australia 10-Year rates were at 4.297% while 2-year rates were at 4.004%.