The Australian sharemarket is set to make a strong comeback on Monday after Wall Street capped a wild week of trading with a broad rally, buoyed by the prospect that the US Federal Reserve could deliver an interest rate cut next month after all.
Futures for the S&P/ASX 200 Index point to a 92-point jump at the open, climbing 1.1 per cent, to 8519. That’s after almost $40 billion was erased from the benchmark on Friday after a stronger-than-expected US jobs report dampened rate cut hopes in America.
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