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The ASX200 could reach the 8000 level for the first time this week, inspired by expectations of a Federal Reserve rate cut in the United States later this year.
Futures are expected to rise 0.62 percent on Monday, influenced by strength on Wall Street, where stocks closed near record levels on Friday, driven by growing anticipation that the Fed will cut in September, given indications that inflation is easing.
The S&P 500 rose 0.5 percent on Friday, having previously touched an all-time high of the 5,655 level during the session. There was also a rise of 0.5 percent in the Nasdaq 100, rebounding from its worst day since April. The Dow Jones increased 247 points, which lifted it over the 40,000 mark for the second time, having previously reached the level on May 17.
Over at the ASX, there is a new company entering the market today: Piche Resources Ltd (ASX:PR2), which will be exploring for precious and critical metals as well as uranium in Australia and Argentina.
Meeka Metals Ltd (ASX:MEK) has announced that its processing capacity at the Murchison Gold Project has increased 30 percent with the purchase of a 750kW Ball Mill.
Westgold Resources Ltd (ASX:WGX) has welcomed a press release from Karora Resources Inc acknowledging a report recommending a potential merger between the two companies, released by proxy advisory firm Glass, Lewis & Co. LLC.
And Aussie Broadband Ltd (ASX:ABB) has launched a digital-first affordable sub-brand named Buddy Telco.
In Forex, one Australian dollar is buying 67.6 US cents.
Brent crude is up 0.23 percent to US$85.23 a barrel, iron ore is flat at $109.58 per tonne.
Gold is down 0.08 percent to $2,409 an ounce and natural gas has fallen 2.52 percent to $2.27 a gigajoule.
