Oil falls below $US100 after Trump downplays prospect of Iran strikes
Stocks soar as midterms reverberate across Wall Street
Australian shares are set to open higher on Thursday, following a rally on Wall Street after the Republican Party lost control of both houses of congress in midterm election.
S & P/ASX 200 futures were up 142 points, or 1.6 per cent, to 8998 near 4am (AEDT).
The Dow Jones soared by more than 1300 points, and the S & P 500 enjoyed its best day in months. Tech stocks rose, despite higher prospects for data centre regulation, but Tesla and SpaceX fell after Elon Musk’s unsuccessful election interventions.
Oil plunged again, falling more than 8 per cent after President Donald Trump said he did not plan to strike Iran again, and Vice-President JD Vance blamed the war for Republicans’ defeat.
Treasuries gained on expectations gridlock in Congress will stall big spending initiatives.
