Australian shares to open lower. US equities close modestly lower. Gold slips, oil edges up, iron ore rises. Bitcoin steady. Follow updates here.
The Dow Jones Industrial Average eclipsed 40,000 for the first time amid a surge in confidence that the bull market is poised to get a boost from a pivot to rate cuts by the Federal Reserve. At the close, the Dow was 0.1 per cent lower to 39,869.38. It earlier rose as high as 40,051.05. Australian shares closed just 0.2 per cent shy of a record closing high on Thursday after jobs data stoked bets the Reserve Bank’s next interest rate move is likely to be a cut.
We still expect more deceleration ahead, especially in the second half of 2024, and we maintain our call for a first cut in September this year”. Jeremy Schwartz, chief investment officer at Wisdom Tree Funds, said he doesn’t rule out a July cut. Stocks in focus BSP Financial Group and Reef Casino Trust both host annual general meetings. Chanticleer: Why bad news has the ASX bulls running Bad news from the job market turned a good day on the ASX into a great one.
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