The news: Australian shares are set to edge higher at the open after Wall Street indices lifted during a half-day session on Friday, capping a week buoyed by growing expectations for a rate cut when US Federal Reserve policymakers meet next week.
The numbers: Updated at 7:30am AEDT:
The context: Wall Street’s three main indices all advanced on Friday, in a session that ended early due to the Thanksgiving weekend. The rally — which also saw bonds, Bitcoin and commodities climb — continued despite the halting of futures and options trading on the Chicago Mercantile Exchange, after a cooling issue impacted one of its data centres.
In the local market this week, investors will await Wednesday’s third-quarter GDP figures for clues to the Reserve Bank’s next rate call. Economists are expecting GDP growth of around 0.6% over the quarter and 2.1% over the year.
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