ASX to open higher, US stocks lift on EU-US trade talk hopes

News Snapshot:

Australian shares are set to open higher, tracking gains in Europe and the US on hopes that the EU and the US are on a path towards resolving US President Donald Trump’s trade demands. In a social media post, Trump said he was encouraged to hear that EU negotiators were accelerating talks with their US counterparts. Separately, Wall Street’s mood was lifted by a Conference Board report showing renewed optimism among US consumers. All 11 of the S & P 500 industry groups were higher in early afternoon trade. The board’s Consumer Confidence Index increased by 12.3 points in May...