Stocks managed to snap a four-week losing streak with a slight gain on Friday after a volatile week, marked by trade policy uncertainty and a Federal Reserve policy update.
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“Bulls vs Bears,” provides a comprehensive overview of current market trends, economic developments.
The Australian sharemarket is poised to record its strongest weekly gain of the year, with supermarket stocks lifting the ASX on Friday despite persistent global economic uncertainty.
By mid afternoon, the S&P/ASX 200 rose 0.5% or 36.9 points to 7955.8, with the All Ordinaries up 0.4%. Gains across seven of 11 sectors helped the market move higher.
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Equities gave back the rate cut optimism that followed the Federal Reserve meeting and an their unchanged outlook on two rate cuts this year run out of steam
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The Australian sharemarket was poised for its strongest session in six weeks, driven by gains in banks, technology, and consumer stocks following a Wall Street rally. The S&P/ASX 200 climbed 1.2% to 7920.7, with the All Ordinaries also up 1.2%.
Stocks surged higher overnight as the Federal Reserve’s left rates unchanged but maintained the outlook for 2 more cuts this year
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The ASX retreated on Wednesday, snapping a three-day rally as risk-off sentiment returned to global markets. The S&P/ASX 200 declined 0.2% to 7,846.6 points, mirroring Wall Street’s tech-led sell-off. The All Ordinaries also fell 0.2%, despite eight of eleven sectors trading higher.
Stocks slumped again overnight ahead of the Federal Reserve’s two-day meeting, and Nvidia’s annual conference.
