September 18, 2019 / 10:47 PM / a month ago

Australian shares to edge higher on Wall Street's modest post-Fed gains

    Sept 19 (Reuters) - Australian shares are set to open
slightly higher on Thursday, tracking modest Wall Street gains
after U.S. Federal Reserve Chair Jerome Powell allayed initial
market concerns about limits to future interest rate cuts.
    The Fed on Wednesday signaled a higher bar to further rate
cuts after easing its benchmark overnight lending rate by a
quarter of a percentage point. Powell, in a press conference
later, promised future cuts "if the economy does turn down".
            
    The local share price index futures          rose 0.1%, a
14.4-point premium to the underlying S&P/ASX 200 index        
close. The benchmark dipped 0.2% on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.1%
in early trade.
    

 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sam
Holmes)
  
 
 
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