Markets

On Monday, the Australian sharemarket experienced a slight increase, with the S&P/ASX 200 rising by 0.12% to reach 7,652.80 at the close of trading.

Australian stocks are experiencing an upswing this Monday, buoyed by the same positive sentiment that propelled Wall Street to a new record last Friday, leveraging the momentum from Nvidia's historic rally.

The S&P/ASX 200 increased by 0.4% on Friday at 11:30am, primarily driven by a notable 2.2% increase in the technology sector, reflecting a broader global market uptrend fueled by growing demand for artificial intelligence products. Wall Street witnessed record highs as both the S&P 500 and Nasdaq Index reached new peaks.

The Australian sharemarket declined as Woolworths' announcement of declining sales volume led to a 0.7% drop in the S&P/ASX 200 index, with consumer staples suffering the most.

In the fourth quarter, Australia's Wage Price Index increased by 0.9 percent, aligning with analysts' consensus expectations. This growth, rising from 1.3 percent in the previous quarter, highlights a key factor influencing inflation and monetary policy decisions by the Reserve Bank of Australia, particularly as it forecasts further increases in wage growth.

Australian shares declined, tracking losses in Asian markets despite a larger-than-anticipated interest rate cut in China, driven by BHP's lowest half-year profit in eight years.

Australian stocks declined as mining and energy sectors retreated, prompted by a significant overnight decline in iron ore prices and BHP reporting its weakest half-year profit in eight years.

The S&P 500 index experienced a 0.5% decline on Friday following the release of a US producer price index report indicating a rise in prices, particularly attributed to increased service costs, retracting from its previous record high.

Australian shares surged 0.5% by 11:30am, driven by gains in mining stocks due to rising commodity prices and a weakening US dollar, with the S&P 500 Index reaching a record high on Wall Street.

The technology sector saw a notable surge in stock prices following the announcement of a $9.1 billion takeover bid for Altium, propelling the benchmark S&P/ASX 200 Index to a 0.8% increase, with technology shares specifically soaring by 6.8%.

In January, Australian employment saw a modest increase of 500 jobs, while the unemployment rate rose to 4.1 percent from the previous 3.9 percent, contrary to the consensus expectation of 30,000 jobs created and a 4 percent unemployment rate.

The Australian sharemarket saw a 0.7 per cent decline, with the S&P/ASX 200 index dropping 55.9 points at closing, primarily due to dashed hopes of an immediate rate cut by central banks triggered by a hotter-than-expected United States CPI result.

The Australian sharemarket saw a 0.7 per cent decline, with the S&P/ASX 200 index dropping 55.9 points at closing, primarily due to dashed hopes of an immediate rate cut by central banks triggered by a hotter-than-expected United States CPI result.

The Australian sharemarket declined sharply as global markets reacted negatively to a higher-than-anticipated US Consumer Price Index, leading to fears of delayed Federal Reserve rate cuts.

Australian shares experienced a second consecutive decline, driven by CSL's disappointing outlook, while investors awaited US inflation data for insights into potential Federal Reserve interest rate adjustments.

The Westpac Melbourne Institute Consumer Sentiment Index increased by 6.2% to reach 86 in February, marking its highest level since June 2022, signaling a shift towards optimism among Australian consumers amidst moderating inflation, evolving interest rate expectations, and anticipated income tax reductions later in the year, as indicated by Matthew Hassan, a senior economist at Westpac.

On Monday, the ASX experienced a decline primarily driven by a few large-cap stocks, notably CSL and Woodside, amidst traders' contemplation of the market's future amid an impending week of crucial company earnings reports.

Despite a record rally in US markets on Friday, the sharemarket experienced a decline, with the S&P/ASX 200 slipping by 0.27 per cent at 7,623.90 at 11:30am. This decline is primarily attributed to healthcare giant CSL, dropping 5.2 per cent due to abandoning plans for a drug seeking regulatory approval following weak trial results.

Michele Bullock suggests that the Reserve Bank of Australia can lower interest rates even before inflation reaches the 2.5 percent target, emphasising the importance of confidence in reaching the target when adjusting monetary policy to avoid abrupt changes.

On Thursday, the benchmark S&P/ASX 200 rose 0.3% to 7638.4 points, with the utilities sector up 1%, led by AGL Energy's 10.3% surge after reporting a profit of $576 million for the six months to December.

The S&P/ASX 200 rose by 0.4% by almost midday, with gains from Cochlear and AGL being counteracted by a decline in REA Group.

On Wednesday, Australian shares rebounded, with the S&P/ASX 200 closing 0.5% higher at 7615 and the All Ordinaries also rising by the same percentage.

Australian shares, particularly miners, are rebounding today, with the S&P/ASX 200 is 0.63 per cent higher at 7,629.60, retracing losses from the past two days.

The Australian sharemarket declined as the Reserve Bank of Australia (RBA) left the cash rate unchanged and hinted at potential interest rate hikes due to high inflation, leading to a decrease in bond futures' expectations for rate cuts.

Australian shares declined as a response to Wall Street losses and rising bond yields following Federal Reserve Chairman Jerome Powell's statements that a rate cut is not imminent and expectations for multiple cuts through 2024 were too high.

Shares declined broadly, particularly impacting miners and energy sectors, as investors took profits following a recent record high.