Live: Wall Street rises despite hot inflation likely to trigger a Fed rate hike this week

Good morning and welcome to our live coverage of the markets on ABC. Wall Street experienced a surprising rise despite unexpectedly high US inflation data, which could lead to the Federal Reserve raising interest rates this week. The main equity indices on Wall Street all gained around 1% on Friday, after three days of losses. Meanwhile, the ASX 200 futures pointed to a 0.2% increase for today, indicating the market's attempt to halt its recent decline over the past five days.

With limited new data available, today's market activity appears relatively subdued. However, the Reserve Bank of Australia's Assistant Governor and Chief Economist, Sarah Hunter, will be engaged in a fireside chat later today. Given that no new information has surfaced since her previous discussion last week, further surprising revelations are unlikely. As such, investors should maintain a cautious approach and remain focused on potential market movements.

While there are no immediate catalysts to drive substantial market changes, it is never too early to start reporting on the day's financial developments. Stay tuned for our live blog, which will provide continuous updates and insights into the latest market trends throughout the day. Remember, this coverage is intended for informational purposes only and should not be considered as investment advice.