ASX 200 blasted 70 points higher to 7041 (+1.0%) as bond yield fell hard on safe-haven buying of bonds. Talk of rate cuts as Israel/Hamas conflict the focus. Gold miners are better but not spectacular, with NST up 1.5% and EVN up 0.3%. Lithium plays bouncing hard as a short squeeze takes hold. PLS up 6.2%, and IGO up 3.5%.
2.30pm Updates Gold miners going well. I am not convinced the rally will last given…
US equities rallied Friday, led by gains in mega-cap tech stocks after non-farm payrolls rose the most in eight months, signalling a tight labour market. The Dow Jones rose 288 points (+0.87%) in a choppy day of trade. Up 438 at best. Down 273 at worst. The S&P 500 and NASDAQ registered their largest daily gain since late August, up 1.18% and 1.6%.
The ASX 200 gave back most of its gains to end up only 16 points to 6970 (0.2%). After a strong start, caution prevailed, US futures pointed to a negative open and confidence was sapped.
The Dow Jones rose 288 points (+0.87%) in a choppy day of trade on Friday night. Up…
DIARY NEXT WEEK Inflation data will be the main release next week. US core and headline…
The equity market wobbled as expected on thye strong jobs numebr before it all turned around. The Dow closed up 288 (it was up 438 and it was down 273). SPI Futures up 58. If Wall Street had dropped 288 and the SPI futures were down 58 in response to the jobs number, you would have said, “Yep, that’s right”.
The Dow Jones Industrial Average lost 9.98 points, or 0.03%, to close at 33,119.57. The S&P 500 dipped 0.13% at 4,258.19, and the Nasdaq Composite traded down 0.12% to end at 13,219.83.
Energy is this week’s biggest loser, followed by the beaten-down utilities sector. Both sectors are down 5.9% and 4%, respectively.
Weekly Jobless Claims came in at 207,000 for the week ending Sept. 30, up just 2,000 from the prior week’s numbers. Economists had forecasted 210,000.
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ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again.