ASX to rise, Dow leads in New York, iron ore retreats

News Snapshot:

On Wall Street, industrials paced eight of the 11 S & P 500 industry sectors higher. Communication services led the three decliners. US consumers’ short-term inflation expectations fell for a third consecutive month in June, to the lowest level in more than two years, according to a Federal Reserve Bank of New York survey. Median one-year-ahead inflation expectations declined by 0.3 percentage point to 3.8 per cent, the lowest reading since April 2021. The year-ahead inflation expectations peaked at 6.8 per cent in June last year. The outlook for inflation three years ahead and five years ahead both came in...