Australian stocks are on a tear

Australia’s Jason Day watches his tee shot on the eighth hole during the first round of the US Open. Ezra Shaw/Getty Images

The Australia market has surged higher this morning, quickly recovering Thursday’s 1.26% loss, on the back of a stronger Wall Street.

All ten sectors were higher, led by the banks and the big miners.

Westpac was up 1.17% to $32.86 and the NAB 1.15% to $33.51.

BHP added 1.43% to $28.37 and Rio Tinto 1.4% to $55.72. Among energy stocks, Woodside Petroleum was up 1.56% to $35.90.

On Wall St, the S&P 500 closed 1% higher with investors encouraged that the Fed will take its time in raising rates.

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