ASX boosted by financials and technology stocks as investors prepare for more US interest rate rises

The Australian share market has risen for the fifth time in six trading sessions as investors pulled out of bonds and back into shares amid expectations of rapid rises in US interest rates. Key points: The Dow Jones index rose 0.7pc, to 34,807, the S&P 500 rose 1.1pc, to 4,512, and the Nasdaq rose 2pc, to 14,109 The FTSE 100 index rose 0.5pc, to 7,477, the DAX rose 1pc, to 14,473, and the CAC 40 rose 1pc, to 6,659 The All Ordinaries index climbed 0.6 pc to 7,665, while the ASX 200 index put on 0.5pc to 7,378 The All Ordinaries index climbed 0.6 per cent to 7,665, while the ASX 200 index put on 0.5 per cent to 7,378, reaching a fresh two-month high during the session. The Australian dollar rose to a five month high of 74.76 US cents in morning trade, after rising by 1 per cent overnight on the prospect of high commodity prices continuing. Federal Reserve official James Bullard told Bloomberg TV overnight that the US central bank should raise its benchmark interest rate to 3 per cent this year. The Dow Jones index rose 0.7 per cent, to close at 34,807, the S&P 500 increased 1.1 per cent, to 4,512, and the Nasdaq put on nearly 2 per cent, to 14,109.