Australian Market Poised For Gains After Wall Street Record Highs

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Australia Share Market,Wall Street,Interest Rates

The Australian share market is anticipated to open higher following record highs achieved by Wall Street overnight. Domestically, the release of the monthly consumer price index later today will be closely scrutinized after the Reserve Bank of Australia's decision to maintain interest rates. Meanwhile, Macquarie Bank has faced a record fine of $4.9 million for failing to prevent suspicious orders on the electricity futures market.

Locally, the monthly consumer price index out later this morning will be closely watched after the Reserve Bank of Australia's decision to keep interest rates on hold.

The Markets Disciplinary Panel issued the fine following an ASIC investigation, which found on 50 occasions, from January to September 2022, Macquarie breached market integrity rules by permitting three of its clients to place suspicious orders. MDP found Macquarie should have suspected each of the 50 orders were submitted with the intention of creating a false or misleading appearance in the market.

Ian Verrender has you covered with this quick summary below, featuring mining stocks, the Australian dollar and the People's Bank of China.ended at record numbers despite a report showing the US consumer confidence level declined in September, according to the Conference Board.and came as a surprise to many economists who had expected the level to rise.

 

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