A rally on Wall Street overnight is likely to send Australian stocks higher. Hotter-than-expected economic data in the US eased worries about a recession without raising fears of a Federal Reserve rate hike next week. Follow the latest updates in our live blog.
Hello, Sam Yang here to take you through markets this Friday.And it looks like the ASX will follow, with futures uprose more than expected in August on higher gasoline prices, while initial claims for state unemployment benefits climbed to a seasonally adjusted 220,000 for the week ended September 9 from 217,000 the week before.for final demand rose 0.7 per cent last month, against expectations of a 0.4 per cent increase. On an annual basis, they increased 1.
"Today's economic data confirms the path toward a soft landing, but without being so hot that the Fed thinks they might need to do a couple more rate hikes," said Ross Mayfield, Investment Strategy Analyst at Baird. "All together, it's pretty bullish."to their biggest one-day percentage gain in six months, after the European Central Bank -- suggested it was at the end of its monetary policy tightening cycle.rose 1.
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