ASX to open higher as oil jumps, Wall St rallies

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Technology and energy companies helped lead US stocks higher overnight, lifting the benchmark S&P 500 to a gain for the week and setting the Australian market up for a strong start. Crude oil jumped and bond yields rose.

Energy shares led the S&P 500 into positive territory for only the second time in eight trading sessions, with the benchmark index closing 0.9 per cent higher. The Dow Jones Industrial Average was up 237 points, or 0.7 per cent, to 34,814 and the tech heavy Nasdaq composite gained 0.8 per cent, rising for the first time in more than a week.

The gains were broad, with more than 80 per cent of stocks in the benchmark S&P 500 rising. The positive mood is expected to boost local investor sentiment when the ASX opens for trading. ASX futures were up 33 points, or 0.5 per cent, at 7420 as of 6:22am on Thursday morning.

US markets were higher overnight after a broad-based stock rally. Credit:AP

After surging 20 per cent to record highs through…

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