OPEC+ extended supply cuts, influencing oil gains. Chevron faced potential LNG strikes in Australia. Cryptocurrency volumes dipped, and Platinum Asset Management reported significant fund outflows in August.
Equities were mixed overnight with the market being weighed down by tech stocks, as investors continued to worry about interest rates remaining higher for longer.
Australian shares declined amid strong GDP growth. Energy stocks benefited from high oil prices, while coal miners gained from NSW royalty hikes.
ASX prepares for a dip, mirroring New York’s tech-led downturn. Inflation worries rise as RBA Governor Lowe gears up for a pivotal speech in Sydney.
Australian shares declined amid strong GDP growth. Energy stocks benefited from high oil prices, while coal miners gained from NSW royalty hikes.
Equities were weighed down by rising Treasury yields, but a rally in energy stocks kept a lid on losses as oil prices climbed after major oil producers agreed to extend their oil production cuts.
Australian stocks dip, led by energy and materials. RBA holds rates, China’s service sector slows, and Qantas rises with CEO Joyce’s early departure. Market remains volatile.
Equities ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month
The ASX closed higher in low volume trade with focus turning to a Reserve Bank of Australia meeting on Tuesday and a US holiday tonight
Equities ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month
Amidst global market fluctuations, the ASX showcased resilience with standout performances from Cochlear and CSL, while economic data hinted at Australia’s evolving financial landscape.
Amid Albanese’s coal mine approvals, Fortescue faces leadership shifts with Debelle’s exit, highlighting a day of significant economic and environmental decisions in Australia.
