Author name: Kai Chen

Jerome Powell’s words echo across global markets, with ASX sectors reacting to potential future rate adjustments.

Jerome Powell’s words echo across global markets, with ASX sectors reacting to potential future rate adjustments.

ASX sees a glimmer of recovery, echoing Wall Street’s optimism. Mining giants like Rio Tinto and Fortescue light up the market with notable gains. vestors hold their breath, awaiting insights from the Federal Reserve policy statement.

The RBA’s anticipated stance on interest rates remained a focal point for investors and market strategies.

The ASX sees banking and energy sectors falter under the weight of global conflicts, while gold miners and tech stocks offer a refuge for investors.

Today’s market saw a surge of energy, with Contact Energy Ltd and Champion Iron Ltd powering through, boasting gains of 7.09% and 6.78%, respectively. Investors felt the warmth as these companies illuminated the path towards substantial market profits.

Azure Minerals shimmered in the market spotlight with a 43% surge, courtesy of a lucrative buyout by Sociedad Química y Minera. The lithium sector radiates vibrancy, reflecting the material’s pivotal role in steering the world towards a greener future.

Australia’s Q3 CPI outperforms expectations, rising 1.2%, fueling discussions around economic strategies and potential shifts in the Reserve Bank’s interest rate policies.

Energy stocks in the ASX find momentum, fueled by escalating oil prices amidst Middle East tensions, marking a bright spot in a wavering market.