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ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the…
U.S. stocks closed higher on Wednesday.
The Dow Jones Industrial Average added 127.17 points, or 0.4%, to close at 33,129.55. The S&P 500 gained 0.81% at 4,263.75. The Nasdaq Composite rose 1.35% at 13,236.01.
Tesla up 5.9% and Amazon, Google, and Microsoft all up around 2%. Growth in US services sector slowed along with US private payrolls increasing less than expected. Equity markets viewed these results as reducing the chance of a Fed rate rise however all eyes remain on the key US jobs number expected Friday night (our time).
ASX 200 was up but has faded. A bit of Bond market relief kicked off by a 5% fall in the oil price has helped but not much.
ASX 200 shrugged off early indifference to push off the 6900 level to close at 6925, up 35 points (+0.5%). Banks and industrials leading the bounce from oversold levels.
The US and Australian markets all oversold on a daily (short-term) basis. A host of sectors oversold now – Telecoms, IT, Small Ords, Healthcare, Infrastructure REITS. 140 oversold ETFs. Gold ETFS oversold. Uranium ETFs topping out. Oil price topping out. Aussie dollar ETF on a 52 week low.
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