Investing.com - The Australian stock market is set to rise at the opening bell, aiming for its fourth gain in the past five sessions. This comes after the market was shaken last week due to inflation data that surpassed expectations.
Wall Street experienced a boost as impressive corporate earnings and reassuring remarks from US Federal Reserve Chairman Jerome Powell pleased investors after stating that further interest rate hikes are unlikely. All three major indices ended on a high note, with the tech-centric Nasdaq Index seeing a 1.5% increase.
Tech giant Apple Inc (NASDAQ:AAPL) announced a record buyback after the closing bell, revealing an all-time high for its services business sales for the March quarter. This news caused the company's stock to surge by 8% in after-hours markets.
Block Inc (NYSE:SQ), the parent company of Afterpay, also witnessed an increase in after-hours markets following its report of sales and user growth exceeding expectations. Block is also the innovative force behind the Square and Cash App payment systems.
US treasury yields continued to gradually ease following the Federal Reserve's meeting. Gold remained steady, while the Australian dollar saw a 0.6% increase, reaching $US65.7¢.
Among local companies, Macquarie Group Ltd (ASX:MQG) is slated to report earnings later in the session, while TPG Telecom Ltd (ASX:TPG) is scheduled for its annual general meeting.