The ASX 200 is anticipated to rally today on debt ceiling relief, rebounding from a 125-point (-1.71%) fall last week. All three major US indices gained +1% last week, with the Nasdaq leading the way, gaining 2.51% fuelled by AI hype, supported by favourable forecasts from Nvidia. This week, the trading week in the US will be shorter due to the Memorial Day Holiday on Monday. US jobs data out this week, non-farm payrolls and unemployment data on Friday, both of which are pivotal indicators used by the Fed to make decisions regarding interest rates.

TODAY'S HEADLINES

• ASX poised for debt ceiling relief rally.
• McCarthy, Biden predict Congress will pass debt ceiling deal.
• Russia unleashes largest drone attack on Ukrainian capital ahead of Kyiv Day.
• Texas Senate to deliberate on impeached AG Ken Paxton.
• Oman's Sultan in Iran for talks on diplomatic, security issues.
• China's home-grown C919 completes first commercial flight.
• ISS backs Toyota shareholder proposal on climate disclosure.

Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.

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