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ASX 200 set for uptick amid Wall Street rally, RBA rate decision on tap

Published 18/06/2024, 08:31 am
© Reuters.

Investing.com - Australian shares are set to open higher on Tuesday, following an extended rally in New York where blue-chip tech stocks, Tesla Inc (NASDAQ:TSLA) and Apple Inc (NASDAQ:AAPL), made significant gains, while GameStop Corp (NYSE:GME) tumbled.

ASX 200 Futures suggest an increase of 0.1% at the opening bell, ahead of the Reserve Bank's closely watched interest rate decision at 2.30pm AEST.

On Wall Street, the S&P 500 saw a 0.8% rise, reaching 5473.23. The NASDAQ Composite, known for its tech-heavy composition, added 1% to 17,857.02. This was driven by a 5.3% rally in Tesla and a 2% gain in Apple.

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Locally, investors are keenly awaiting the RBA interest rate decision at 2.30pm AEST, followed by a press conference at 3.30pm. The central bank is widely expected to maintain the current rate.

In bond markets, the Australia 10-Year and 2-year yields were at 4.191% and 3.962%, respectively.

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