Author name: Jonathan Tacadena

The jobless rate edged up to 4.2% in July, slightly higher by 0.1%. Despite adding 58,200 jobs, largely due to mass immigration, market sentiment was mixed.

Australian shares edged higher in early afternoon trade, with the S&P/ASX 200 Index up 0.3% or 21.5 points to 7835.2, extending gains for a fifth consecutive day. Real estate and mining sectors led the advance, while healthcare lagged, falling 2.6%. CSL shares dropped 4%, despite projecting double-digit earnings growth, marking one of its largest daily declines this year. Seek was the biggest laggard, plunging nearly 10% after weaker regional job ads impacted earnings.

The Australian sharemarket advanced Monday, marking its second consecutive day of gains, driven by strong earnings from JB Hi-Fi amidst a busy week of corporate results. The S&P/ASX 200 Index rose 38.7 points, or 0.5%, to 7816.4, following a Wall Street rebound as global markets stabilize after last week’s significant downturn.

The Australian sharemarket retreated on Thursday afternoon, with the S&P/ASX 200 Index declining 0.3% or 23.4 points to 7676.4. A sell-off in mining and property stocks, alongside a broader market pullback, weighed on the index. The materials sector dropped 1.5%, with BHP Group down 1.9%, Rio Tinto losing 1.8%, and Fortescue Metals falling 0.8% as Singapore iron ore futures slid 1.7% to $US99.2 per tonne. Property stocks were also hit, down 2.3%, as Goodman Group fell 2.5% and Scentre Group lost 1.5%. Mirvac shares plunged 9.5% after forecasting lower FY2025 earnings.

Australian shares rose in early afternoon trading, buoyed by positive sentiment from Wall Street and Asia as investors reassess market and interest rate outlooks. The S&P/ASX 200 gained 0.6%, or 42.9 points, to 7723.5, reversing a 0.3% loss at the open. This follows a 0.4% rebound in the previous session after Monday’s sharp sell-off.

The Australian sharemarket maintained its gains despite the Reserve Bank holding the cash rate steady at 4.35%, citing persistent inflation concerns. The S&P/ASX 200 Index was up 0.8%, trading at 7,708.7 points in late trading, with six of 11 sectors in positive territory.

The Australian sharemarket is experiencing its steepest sell-off in two years, driven by escalating U.S. recession concerns. The S&P/ASX 200 index has dropped 2.7%, or 220 points, to 7722, extending Friday’s 2.1% decline. This 5% two-day loss marks the worst single-day drop since June 2022, when U.S. inflation surged to a 40-year high, unsettling global markets.

Australian shares experienced their largest one-day drop in 16 months, with the S&P/ASX 200 plummeting 2.1% or 171.1 points to 7943.60, following a sharp decline on Wall Street amid concerns that the Federal Reserve may be behind on cutting interest rates. This fall comes after the index reached a record high of 8114.7 just a day earlier. Despite the drop, the index remains on track for a 0.3% weekly gain, following a 4.2% rise last month.