Markets

The Australian sharemarket ended Monday's session almost unchanged, with the S&P/ASX 200 closing marginally higher by 0.07 per cent at 7675.8 points, driven by late-session recovery but still witnessing losses in the real estate sector due to caution surrounding the Reserve Bank of Australia's upcoming decisions.

The Reserve Bank of Australia commenced its two-day meeting, expected to maintain current interest rates, although markets are pricing in a potential rate cut in September despite signals from RBA governor Michele Bullock and her predecessor, Philip Lowe, suggesting the possibility of further rate increases.

Australian shares declined by 1.1% early in the trading session, mirroring losses in New York, as concerns over US inflation data suggested a cautious approach by the Federal Reserve towards rate cuts.

On Thursday, the Australian sharemarket slightly declined by 0.2 percent, driven primarily by a downturn in the financial sector, particularly among the major banks, offsetting gains in the mining sector sparked by a rally in copper prices following potential production cuts by Chinese smelters.

Australian shares opened lower with a 0.2% decline in the S&P/ASX 200, attributed to a 1.1% drop in financials, driven by downgrades from Macquarie on the big four banks, while the materials sector rose by 1.5% due to rebounds in iron ore miners Rio Tinto, BHP, and Fortescue, following three-month lows earlier this week.

Shares rose by 0.2 percent as investors monitored US inflation, interpreting it as not hindering the Federal Reserve's potential interest rate cut by mid-2024.

The S&P/ASX 200 opened with a 0.2% increase, driven by gains in retail and healthcare sectors despite declines in energy and resources.

Australian shares started trading slightly higher on Tuesday, driven by gains in banking stocks following modest movements in New York, with investors eyeing the US February CPI report for insights into future Federal Reserve interest rate decisions.

The Australian sharemarket experienced its most significant sell-off in over a year, with the S&P/ASX 200 Index tumbling 1.8% from a record high, led by declines in the materials and energy sectors alongside profit-taking in banks.

The Australian sharemarket experienced a decline at the opening, influenced by a pause in the bull market on Wall Street the previous Friday. Particularly, the materials, healthcare and energy sectors performed poorly, each dropping over 1%. BHP, a major index constituent, experienced a percentage loss. CSL, a blood plasma collector, also saw a decline of 1.8%.

The S&P/ASX 200 reached a record high of 7802 points fueled by a surge in stocks related to artificial intelligence, echoing the trend that propelled the S&P 500 and Nasdaq to all-time highs on Wall Street.

On Thursday, Commonwealth Bank shares surged to a record high of $119.37, alongside National Australia Bank and Westpac reaching notable highs, propelling the S&P/ASX 200 index to a second consecutive day of gains, reaching 7763.7 points, with financials climbing by 0.6 percent while the resources sector dipped by 0.92 percent due to major companies going ex-dividend.

Australian shares rose by 0.2% in early trading, buoyed by the tech sector's gains following a positive trend on Wall Street, sparked by US Fed Chair Jerome Powell's indication of an expected pivot to rate cuts in 2024. At 11:30, the S&P/ASX 200 is 0.26 per cent higher at 7,753.5.

On Wednesday, the Australian sharemarket saw a modest increase driven by gains in the financials and real estate sectors, with the S&P/ASX 200 Index rising by 0.1% to 7733.5 while the Australian dollar remained steady just below US65¢.

Australia's gross domestic product expanded by 0.2 per cent in the fourth quarter, missing forecasts, prompting speculation that the Reserve Bank of Australia may consider adjusting interest rates despite maintaining them at 4.35 per cent in recent meetings.

Australian shares experienced a slight decline on Tuesday, marking the second consecutive session of losses, although gains in healthcare and gold stocks partially offset broader market declines.

Bitcoin has reached a two-year high, nearing its all-time peak of $68,999.99, following a 50% surge this year, fueled by the approval of spot bitcoin exchange-traded funds by US regulators.

The ASX declined in its first session of the week, with the S&P/ASX 200 closing 0.1% lower amid concerns over upcoming GDP figures, particularly after a larger-than-expected decline in inventories, while real estate stocks rose 1.3% and gold stocks rallied on increased gold prices.

04 March 2024 – Australian real estate and tech stocks are the best performing after the tech-heavy Nasdaq Composite and S&P 500 closed at record highs on Friday 16,274.94 and 5137.08, respectively. Fresh US manufacturing data on Friday added to hopes the Federal Reserve will begin cutting rates in the first half of this year.

01 March 2024 – At the open, Australian shares, led by gains in the technology and resources sectors, reached a record high of 7733.2 points, rising by 0.2 per cent, with optimism fueled by expectations of central bank rate cuts in 2024. At 11:30am, the S&P/ASX 200 is 0.03 per cent higher at 7,700.80.

In January, retail sales increased by 1.1%, falling short of the expected 1.5% growth, indicating volatility in spending patterns. Despite a rise to $35.7 billion in sales, the year-on-year increase was only 1.1%, reflecting weak performance relative to the country's rapid population expansion.

On Wednesday, the ASX experienced a slight decline, ending a four-day winning streak, with the ASX 200 falling by 0.03%, attributed to disappointing earnings reports from major companies.

Australia's Consumer Price Index grew by 3.4% in January, falling below analysts' expectations of a 3.6% increase, holding steady from December's level.

On Tuesday, the S&P/ASX 200 Index closed slightly higher by 0.1%, with consumer staples leading the gains due to Coles' strong earnings report, which saw its shares rise by 5.5%.

Stocks dipped shortly after the market opened, mirroring the downturn on Wall Street. Declines were led by property and mining sectors, outweighing the gains seen in consumer-related stocks amidst a flurry of corporate earnings reports.