Australian shares set to jump after Wall Street rally

Futures point to a strong open on the Australian Securities Exchange (ASX).

Developing

Australian shares look set to rise sharply when trading opens today. The Australian Financial Review reported that futures for the Australian Securities Exchange (ASX) were up 173 points. Futures are bets on where the market will go. They often hint at how shares will open. The move follows a big day on Wall Street in the United States. The Sydney Morning Herald reported that the Dow Jones index was up 1,524 points, or 2.9%, as of noon in New York. That was during trading, so the final figure may be different. The Herald also reported that oil prices slumped. Shares in Trump Media and Tesla fell, the Herald said. Both reports are from the same media group, Nine. Most working Australians have super invested in shares, so big moves matter. It is not yet known how the ASX will finish the day.