A mixed US employment report and steep fall for market darling Nvidia dragged US stocks lower on Friday, with Australian shares set to follow.
Follow the day's financial news and insights from our specialist business reporters on our live blog.Hopefully you had a move restful weekend than hosting a four-year-old's birthday party! Traders on Wall Street certainly didn't take a break at the end of last week, with the latest jobs numbers driving some whipsaw market action.
"A mixed US employment report and steep fall for market darling Nvidia dragged US stocks lower on Friday, with Australian shares set to follow," noted NAB's Ray Attrill.It was worth about $US230 a share just one year ago, and about half that in October 2022."The algo-driven spike in front-end Treasury yields and in the USD on thewas immediately faded and then more than reversed on inspection of the detail," noted Attrill.jump in the unemployment rate to 3.9% from 3.
The downturn on Wall Street, combined with some relative outperformance by Australian stocks against their US counterparts last week, means that theMeet the teenager going toe-to-toe with pollies to pass a controversial law. Will she succeed?
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