Thanks afternoon crew.
End-of-day summary:
The share market logged its longest losing run of the year as the odds on a rate cut this year drifted out in line with the deteriorating outlook in the US.
The ASX 200 dropped in the closing auction to a loss of seven points or 0.09%. Today's decline was the index's fifth in a row and extended a run that has knocked more than 240 points off the index in a week.
Utilities, gold miners and small caps advanced. Energy producers, bulk metal miners and healthcare providers continued to lose altitude.
The odds on a rate cut this year dimmed after Federal Reserve Chair Jerome Powell said failure to make progress on inflation meant a delay to interest rate cuts in the US. Movements in Australian interbank cash rate futures since Monday imply the market no longer expects any cuts this year, according to Market Index markets commentator Carl Capolingua. The implied yield curve now implies the first cut may not come until next February.
US stocks finished mixed but broadly lower overnight following Powell's comments. The S&P 500 eased 0.21% as US treasury yields hit five-month highs.
- Forums
- ASX - Day Trading
- Day traders' after-market lounge April 17
Day traders' after-market lounge April 17
-
- There are more pages in this discussion • 32 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online