Thanks afternoon crew. Been a good week for the trading account despite a few hiccups along the way. Bring on Monday. Have a great weekend, all.
End-of-day summary:
The share market suffered a third straight weekly decline despite a Friday rebound after US stocks scaled fresh heights.
The ASX 200 trimmed its loss for the week to 91 points or 1% with a final-session bounce of 28 points or 0.32%.
Seven of eleven sectors rallied, led by healthcare providers and tech companies. Telcos and consumer staples were the biggest sector drags, joined late in the session by energy and materials.
September has so far maintained its reputation as the toughest month of the year for Australian equities. The ASX 200 has dropped almost 200 points since the start of the month. Some of the weakness can be explained by dividend payouts following the end of the full-year reporting season. Another possible factor behind the domestic market's recent underperformance relative to several overseas markets is the cloudier rates outlook here.
Wall Street's major stock benchmarks all closed at records overnight, a day after the Federal Reserve lowered its benchmark rate and indicated up to two more cuts this year. The S&P 500 firmed 0.48%.
