Global markets were collectively stronger overnight, although the gains were not of the magnitude seen on Friday night.
Gains in the US followed broad gains on European and Asian exchanges.
The Stoxx Europe 600 added 0.4%, closing at a more than four-month high. Asian markets were broadly higher, with Japan’s Nikkei Stock Average rising 2% and China’s Shanghai Composite climbing 1%.
In London the UK’s FTSE 100 put on 21 points (+0.4%) to settle at 5809, whilst the French CAC (+0.8%) and German DAX (+0.8%) were also stronger.
Stateside, the main indices were all stronger with the Dow Jones adding 21 points (+0.2%) to settle at 13118. The broader S&P added 0.2% as well, whilst the NASDAQ gained 0.7%.
The blue-chip benchmark rose on the week’s first trading session for the first time since the day after Memorial Day, snapping a nine-week string of Monday declines—the longest such streak since 1973.
Crude-oil futures rose 0.9% to $92.20 a barrel, while gold futures gained 0.4% to settle at $1612.90 an ounce.
The US dollar fell against most of its major counterparts amid a rise in risk appetite after German Chancellor Angela Merkel’s government backed the European Central Bank’s bond-buying plan to curb the area’s debt crisis.
Today’s session will bring us the latest RBA cash rate decision and rate statement, slated for release at 2:30pm, AEST.