ASX to rise, S&P 500 reaches for record

News Snapshot:

Australian shares are set to open higher, with US equities advancing on hopes for a positive outcome from US-China trade talks in London and the S & P 500 moving closer to resetting its record high. The Trump administration is signalling that it’s ready to ease some restrictions on sales of semiconductors to China in exchange for China easing limits on rare earth shipments. “Fear, capitulation and offsides positioning have driven the 20 per cent-plus rebound in the S & P 500 and Nasdaq Composite,” Morgan Stanley Wealth Management’s Lisa Shalett said in a note. “While ‘peak pessimism’ may be...