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Big gains in the US lay the foundation

A BIG jump in US stocks overnight on the back of strong retail sales data and buoyant news from the world’s largest economy’s central bank on an improved economic outlook has set the scene for the local market.

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Locally, at 7.59am (AEDT) the early indicator, the SPI Futures Index was up 43 points to 4293. With Wall Street gaining more than 1% on news retail sales had jumped 1.1% in February and the US central...

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