US Close 5 June 19: ASX 200 set for gains after Wall St surges on Fed comments

 US sharemarkets surged on Tuesday after US Federal Reserve Chair Jerome Powell said the central bank will "act as appropriate to sustain the [US] expansion", signalling an openness to cut US interest rates. Shares of banks Goldman Sachs (+3.5%) and JPMorgan Chase (+3.0%) lifted. Investors also reacted positively after Mexico's Foreign Minister Marcelo Ebrard said that he hopes to reach a trade and immigration deal with the US. Shares of automakers Ford (+3.2%) and General Motors (+6.0%) both lifted. Apple shares rose by 3.5%. The Dow Jones index rose by 512 points or 2.1%. The S&P500 index also rose by 2.1% and the Nasdaq rose by 194 points or 2.7%.

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