Australian stocks are set to open more than half a percent higher today, as Wall Street extended its gains, influenced by the strength of tech and semiconductor stock and economic data which showed US inflation to be easing, prompting further expectations of a rate cut from the Federal Reserve. The S&P 500 increased by 0.7%, the Nasdaq rose 1%, and the Dow Jones added 235 points. The August Producer Price Index (PPI) was the most significant piece of data released overnight, and it showed that US inflation was softening, with wholesale prices increasing 0.2% month-over-month, a reading which w…
