Australian shares soared to an 11-year high on Monday, as investors welcomed the surprise re-election of the Coalition, adding an extra $32.8 billion to the ASX market index value.
US markets initially dropped sharply following the planned increase in US tariffs on $200 billion worth of Chinese goods by 25%, with China vowing to retaliate.
The US unemployment rate has dropped to 3.6 percent, the lowest in nearly half a century. However, wage inflation/gains remain remarkably subdued.
For the week ahead, investor attention will likely remain focussed on US corporate earnings season, but the key event to watch will be Thursday morning's US Federal Reserve policy announcement.
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