Thanks afternoon crew.
End-of-day summary:
The share market carved out its third gain in four sessions, lifted by positive leads from Wall Street and Federal Budget spending initiatives and tax cuts.
Critical mineral miners, retailers and property stocks were among the day's winners as the ASX 200 rallied 27 points or 0.35%. Last night's budget included measures aimed at easing cost-of-living pressures and supporting critical minerals and hydrogen.
The odds on another rate hike shrank after data this morning showed wages growth slowed more than expected last quarter. The Wage Price Index increased by 0.8% in the first three months, down from 0.9% growth at the end of last year and below consensus.
Wall Street paved the way to today's gains after the Federal Reserve reassured investors that April wholesale inflation data had not changed expectations that the next move in interest rates will be a cut. The S&P 500 rose 0.48%.
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Thanks afternoon crew. End-of-day summary: The share market...
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