ASX Poised for Rebound as Wall Street Snaps Losing Streak

The Australian sharemarket is poised to open higher after Wall Street snapped a three-session losing streak. This comes despite oil prices remaining elevated due to ongoing military tensions between the US and Iran.

ASX 200 futures were 37 points, or 0.4%, higher at 8,978 at 6:41 am AEST, indicating a potential rebound in Australian shares.

The positive signal comes despite concerns over inflation, as economic growth was stronger than expected in the June quarter, leading to speculation that the Reserve Bank of Australia could raise interest rates again.