RBA Interest Rate Decision Looms; US-Iran Ceasefire Boosts Global Markets

The Reserve Bank board will deliver its June interest rate decision at 2:30pm AEST this afternoon.

That will be followed by a press conference from RBA governor Michele Bullock at 3:30pm.

We will have full coverage, market reaction and analysis here on the blog, so stick with us.

Good morning and welcome to another day on markets — and happy RBA day to all those who celebrate/observe/mourn interest rate movements (or lack there of).

As the Australian and Asian sessions indicated yesterday, the announcement of a ceasefire agreement between the US and Iran buoyed stocks, with the positive sentiment extending into Wall Street trade.

The Dow Jones Industrial Average climbed 468 points or 0.9% to a record close. The tech-heavy Nasdaq surged 3.1%, while the broader S & P 500 index added 1.7%.

Helping the Nasdaq was a huge rally for SpaceX shares, up 19.6% on what was their second day of trade.

Yesterday, it was revealed Australian billionaire Gina Rinehart's Hancock Prospecting had taken a reported $1.4 billion stake in SpaceX at IPO.

Despite the boost from overseas, ASX futures indicate the local index could retrace some of yesterday's jump at the open, with SPI 200 futures down 1.1%, but let's see.

And of course, the Reserve Bank interest rate setting-board members will be back at the table today, with a decision due at 2:30pm AEST. No change expected this meeting.

Stay with us through the day.