Australia

The local share market is due to open higher after US stocks notched solid gains, recouping some of the market’s losses from a day earlier.
At 8.30am (AEST), the Australian share price futures index was up 11 points, 0.2 per cent, at 6110 points.
In the US, technology and health care companies drove much of the rebound overnight, outweighing losses in utilities and real estate investment trusts.
The S&P 500 index rose 0.4 per cent to 2722.46, the Dow Jones industrial average gained or 0.3 per cent to 24,768.93 and the Nasdaq composite added 0.6 per cent, to 7398.30.
The Australian share market yesterday closed higher as energy companies were boosted by higher oil prices.
The benchmark S&P/ASX200 index was up 9.2 points, or 0.2 per cent, at 6107 points, while the broader All Ordinaries index was up 9.4 points, or 0.2 per cent, at 6208.1 points.
Out today: ABS labour force data for April. The market is forecasting the unemployment rate to remain at 5.5 per cent and expects 20,000 jobs to be added in the month.
Optus and DuluxGroup will release their full-year and half-year results, respectively, while Adelaide Brighton is due to host its AGM.

Asia

Hong Kong stocks remained flat as renewed fears over North Korea and surging US bond yields dampened sentiment in Asian markets.
Pyongyang abruptly called off talks with Seoul, jeopardising hopes of a US-North Korean summit. The cancellation could rekindle tension on the Korean peninsula even as investors worry about China-US trade tensions and the sustainability of global economic growth.
The Hang Seng index ended 0.1 per cent down at 31,110.20, while the China Enterprises Index was unchanged at 12,440.12 points.

Europe

Strong results from leading software company Micro Focus and a rally among mining stocks drove Britain’s FTSE 100 higher, while Crest Nicholson and mid-cap pub companies suffered sharp losses.
The FTSE 100 was up 0.2 per cent at at 7734.20 points by the close on Wednesday, flirting with the record high reached in mid-January.
Micro Focus rose 6.2 per cent to a two-month high after the software company won a new $40 million licensing deal earlier than expected, saying it would bolster first-half revenue.
The share price reached levels last seen in mid-March when a profit warning dented the stock.
Several mid-cap stocks registered sharp falls after results.
Home builder Crest Nicholson sank 12.8 per cent to the bottom of the FTSE 250 after saying rising construction costs were hurting the pricing of its homes, forcing it to cut its full-year operating margin forecast.

North America

US stocks notched solid gains recouping some of the market’s losses from a day earlier.
Technology and health care companies drove much of the rebound on Wednesday. Small-company stocks fared better than the rest of the market.
Macy’s led a rally among retailers after reporting surprisingly strong results, adding to the strong wave of corporate earnings in recent weeks.The company's shares led all stocks in the S&P 500, vaulting 10.8 per cent to $33.17.
Investors will get to pore over more results from retailers on Thursday, including Walmart, J.C. Penney and Nordstrom.
The Nasdaq composite added 46.67 points, or 0.6 per cent, to 7398.30.
The stock indexes wavered little from their upward trajectory on Wednesday as investors appeared to shake off concerns about the prior day’s spike in bond yields.
The market also failed to react much to a Commerce Department report early on Wednesday that showed US residential construction fell 3.7 per cent in April following a steep drop in apartment construction.

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Lex Hall is a Morningstar content editor, based in Sydney.

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