Closing Bell

The jobless rate edged up to 4.2% in July, slightly higher by 0.1%. Despite adding 58,200 jobs, largely due to mass immigration, market sentiment was mixed.

Australian shares edged higher in early afternoon trade, with the S&P/ASX 200 Index up 0.3% or 21.5 points to 7835.2, extending gains for a fifth consecutive day. Real estate and mining sectors led the advance, while healthcare lagged, falling 2.6%. CSL shares dropped 4%, despite projecting double-digit earnings growth, marking one of its largest daily declines this year. Seek was the biggest laggard, plunging nearly 10% after weaker regional job ads impacted earnings.

The Australian sharemarket advanced Monday, marking its second consecutive day of gains, driven by strong earnings from JB Hi-Fi amidst a busy week of corporate results. The S&P/ASX 200 Index rose 38.7 points, or 0.5%, to 7816.4, following a Wall Street rebound as global markets stabilize after last week’s significant downturn.

The Australian sharemarket retreated on Thursday afternoon, with the S&P/ASX 200 Index declining 0.3% or 23.4 points to 7676.4. A sell-off in mining and property stocks, alongside a broader market pullback, weighed on the index. The materials sector dropped 1.5%, with BHP Group down 1.9%, Rio Tinto losing 1.8%, and Fortescue Metals falling 0.8% as Singapore iron ore futures slid 1.7% to $US99.2 per tonne. Property stocks were also hit, down 2.3%, as Goodman Group fell 2.5% and Scentre Group lost 1.5%. Mirvac shares plunged 9.5% after forecasting lower FY2025 earnings.

Australian shares rose in early afternoon trading, buoyed by positive sentiment from Wall Street and Asia as investors reassess market and interest rate outlooks. The S&P/ASX 200 gained 0.6%, or 42.9 points, to 7723.5, reversing a 0.3% loss at the open. This follows a 0.4% rebound in the previous session after Monday’s sharp sell-off.

The Australian sharemarket maintained its gains despite the Reserve Bank holding the cash rate steady at 4.35%, citing persistent inflation concerns. The S&P/ASX 200 Index was up 0.8%, trading at 7,708.7 points in late trading, with six of 11 sectors in positive territory.

The Australian sharemarket is experiencing its steepest sell-off in two years, driven by escalating U.S. recession concerns. The S&P/ASX 200 index has dropped 2.7%, or 220 points, to 7722, extending Friday’s 2.1% decline. This 5% two-day loss marks the worst single-day drop since June 2022, when U.S. inflation surged to a 40-year high, unsettling global markets.

Australian shares experienced their largest one-day drop in 16 months, with the S&P/ASX 200 plummeting 2.1% or 171.1 points to 7943.60, following a sharp decline on Wall Street amid concerns that the Federal Reserve may be behind on cutting interest rates. This fall comes after the index reached a record high of 8114.7 just a day earlier. Despite the drop, the index remains on track for a 0.3% weekly gain, following a 4.2% rise last month.

The Australian sharemarket has reached a record high, surpassing 8100 points, driven by rate optimism and rising oil prices. The S&P/ASX 200 increased by 34 points, or 0.4%, to 8126.7, building on gains from the previous day following lower core inflation figures that eased rate concerns.

The Australian sharemarket extended its gains at midday as the quarterly inflation gauge met expectations, indicating that rising inflation had returned to predictable territory. The S&P/ASX 200 Index climbed 1.5%, or 119.2 points, to 8072.4

What’s Affecting Markets Today Fortescue sinks on $1.9B Block Trade JPMorgan sought buyers for $1.9 billion of discounted Fortescue stock