The Australian sharemarket is set to trend higher this morning, following gains on Wall Street after the Federal Reserve’s decision to keep interest rates unchanged in the world’s largest economy.
The Australian sharemarket is set to trend higher, following gains on Wall Street after the Federal Reserve’s decision to keep interest rates steady in the world’s largest economy.
The language marked an upgrade to the “solid pace” of activity the Fed saw at its September meeting, and followed on recent data that showed US gross domestic product grew at a 4.9 per cent annual rate in the third quarter. The yield on the 10-year Treasury dropped to 4.79 per cent from 4.92 per cent late on Tuesday. Last month, it topped 5 per cent to reach its highest level since 2007, up from less than 3.50 per cent during the Northern Hemisphere spring.High yields knock down prices for stocks and other investments while making borrowing more expensive for nearly everyone. That slows the economy and puts pressure on the entire financial system.
A third report, meanwhile, said US manufacturing contracted by more last month than economists had forecast. Manufacturing has been one of the US economy’s hardest-hit areas. Estee Lauder pointed to slower growth in China, among other factors, when it cut some of its financial forecasts for its fiscal year. The company also reported weaker revenue for the latest quarter than expected, and its stock tumbled 16.9 per cent.that the company plans to file for bankruptcy.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX set to rise, tracking Wall Street after Fed holds rates steadyThe Australian sharemarket is set to trend higher this morning, following gains on Wall Street after the Federal Reserve’s decision to keep interest rates unchanged in the world’s largest economy.
Read more »
ASX set to rise, tracking Wall Street after Fed holds rates steadyThe Australian sharemarket is set to trend higher this morning, following gains on Wall Street after the Federal Reserve’s decision to keep interest rates unchanged in the world’s largest economy.
Read more »
Before the Bell: ASX futures higher, Wall Street advances before Fed decisionAustralian shares are set to open up, in line with New York. US 10-yr yield drops on refunding tweak. Fed statement at 5am AEDT.
Read more »
ASX to open stronger as Wall Street gains ahead of Fed decisionThe Australian sharemarket is set to rise after US stocks gained ground overnight as investors await the outcome of the Federal Reserve’s monetary policy meeting this week.
Read more »
ASX to open stronger as Wall Street gains ahead of Fed decisionThe Australian sharemarket is set to rise after US stocks gained ground overnight as investors await the outcome of the Federal Reserve’s monetary policy meeting this week.
Read more »
Before the Bell: ASX to rise, Wall St edges up with Fed in focusAustralian shares are set to open higher. US stocks advanced modestly. Nvidia pares early drop. $A stumbles. Bitcoin holds above $US34,000.
Read more »