04 Apr 2024 09:15:241 View2215 GMT

Australia's S&P/ASX 200 is on track to open higher after the chair of the U.S. Federal Reserve reassured markets that the central bank still expects to be able to cut interest rates this year.

ASX futures are up by 0.3%, suggesting that the benchmark index could snap a two-day losing streak and head back toward the record closing high hit at the end of last week.

U.S. equities were mixed.

The S&P 500 rose 0.1%, the Nasdaq Composite gained 0.2%, and the Dow Jones Industrial Average slipped 0.1%.

Ahead of the ASX open, insurer Suncorp said it had agreed to sell its New Zealand life-insurance unit to for NZ$410 million. (stuart.condie@wsj.com)

(END) Dow Jones Newswires