Australian stocks are soaring

Daniel Heffernan of Heidelberg United celebrates with his teammates after scoring the first goal during the FFA Cup Round between Heidelberg United and Sydney United in Melbourne. Scott Barbour/Getty Images

Australian stocks flew at the start of trade.

Overnight on Wall Street the S&P 500 closed up a massive 3.9%, the best one day rise since November 2011. The market was buoyed by news that the Fed isn’t that keen on raising interest rates in the short term.

On the local market, all sectors went into the green, adding to yesterday’s 0.69% rise and Tuesday’s 2.72% gain after Monday‚Äôs massive 4.09% loss.

Financial stocks soared with all the major banks higher, led by the ANZ, up 2.49% at $28.77.

Resources stocks gained ground with Woodside Petroleum up more than 4% to $32.25.

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