Investing.com - Australian shares are gearing up for a rise on Thursday, following a worldwide surge in equity markets.
In New York, leading tech companies NVIDIA Corporation (NASDAQ:NVDA), Apple Inc (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT) have driven gains, pushing the S&P 500 and NASDAQ Composite to all-time highs.
Wall Street ended on a high note, with the S&P 500 closing 1% higher at 5633.91. The Nasdaq Composite rose 1.2% to 18,647.58, while the Dow Jones Industrial Average increased by 1.1% to finish at 39,721.36.
European markets also experienced gains, with the FTSE 100 closing 0.7% higher. The benchmark indices in Germany and France each rose by 0.9%, while the Euro Stoxx 50 saw a 1.1% gain.
Federal Reserve Chairman Jerome Powell, testifying for a second day to Congress, reiterated that policymakers need more assurance that inflation will continue to moderate before considering interest rate cuts.
On the bond markets, Australia 10-Year and 2-year rates were at 4.381% and 4.219%, respectively.