Live: ASX set to surge after Wall Street rallies

Good morning and happy Thursday to our readers across Australia. As ABC Australia's business reporter, I'm here to guide you through the day's financial landscape. Today's outlook is decidedly positive for the Australian share market, with futures pointing to a significant surge at the open. This optimism is largely fueled by a strong performance on Wall Street overnight, indicating a robust global sentiment among investors.

We're also keeping a close eye on international markets, particularly the price of oil, which has seen a notable drop of over 5%. This volatility is a clear reflection of the persistent uncertainty surrounding the conflict in the Middle East, a factor that continues to influence global energy prices and broader economic stability. For Australian businesses and consumers, fluctuations in oil prices have direct implications for transport costs and inflation.

Domestically, the focus will soon shift to the release of the April jobs figures at 11:30 am AEST. Following a steady unemployment rate of 4.3% in March, today's data will provide crucial insights into the health of the Australian labor market and its potential impact on economic policy. As always, this live blog will provide real-time updates and analysis, helping you navigate the day's financial news and market movements.