ASX set for strong gains after Wall Street rallies; Boeing weighs on Dow

The Australian sharemarket is set to jump higher at the open after Wall Street’s Nasdaq index soared more than 2 per cent overnight as a fall in bond yields helped lift megacap stocks. A slump in Boeing shares limited gains on the Dow Industrials. ASX futures were up 75 points, or 1 per cent, at 7507 as of 7:47am AEDT following the strong gains in New York. The S&P 500 rose 1.3 per cent to 4760.19 and the Nasdaq Composite rallied 2.2 per cent in late trading, while the Dow Jones Industrial Average added 0.6 per cent. The Australian dollar traded unchanged at 67.16 US cents. Australia’s S&P/ASX 200 lost 0.5 per cent to 7451.5 on…