Australian stocks are rallying


The Australian market rallied in early trade.

Investors followed Wall Street where the S&P 500 closed 1.8% higher overnight.

A short time ago the ASX was up 1%.

All ten sectors were higher, adding to Monday’s 1.95% to rise.

The major banks and the big miners led the market. BHP was up 2.38% to $24.06 and the Commonwealth was higher by almost 2% to $75.83.

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