The Australian sharemarket extended its gains at midday as the quarterly inflation gauge met expectations, indicating that rising inflation had returned to predictable territory. The S&P/ASX 200 Index climbed 1.5%, or 119.2 points, to 8072.4
Stocks headed lower led by tech amid cautious trading as the Fed kicked off its two-day meeting and investors awaited further earnings from big tech.
What’s Affecting Markets Today Fortescue sinks on $1.9B Block Trade JPMorgan sought buyers for $1.9 billion of discounted Fortescue stock
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Equities closed slightly higher as investors kept their powder dry ahead of tech earnings and the Federal Reserve meeting due this week
The Australian sharemarket experienced broad gains, driven by a positive rebound on Wall Street following inflation data, suggesting the US Federal Reserve may lower interest rates. The S&P/ASX 200 Index rose by 0.8%
Equities closed the week higher as investors flocked back to tech megacaps that had triggered broad sell-offs earlier in the week, and inflation data boosted optimism that the Federal Reserve will soon commence cutting interest rates.
The Australian sharemarket advanced at midday, recovering some earlier losses. The S&P/ASX 200 Index rose 0.9%, or 69.4 points, to 7930.6, with nine of the 11 sectors trading in the green. The Australian dollar steadied at US65.5¢ after a week of selling.
This week, Wall Street experienced a sustained decline in tech stocks, marking a tumultuous period for the sector globally.
Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower
Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
