Australian stocks has turned flat in afternoon trade, while RBA governor Michele Bullock will deliver her first prepared speech tonightDisclaimer: thisOn Wall Street: Dow down 0.6 per cent, S&P 500 down 0.2 per cent, Nasdaq up 0.3 per centIron ore: Up 0.3 per cent to $US112.95 a tonneThe Australian sharemarket has turned flat after gains from the early session.
Among individual stocks, shares of Zip advanced more than 11 per cent after the buy-now-pay-later firm returned to profitability in the first quarter of fiscal 2024, earlier than previously projected. The Australian share market is off to a better-than-expected start this morning, helped by financial and mining stocks.Healthcare, utilities and industrials were the only sectors that were in the red.has modelled three scenarios and the likely impacts on markets.
The S&P 500 ended modestly lower, while a host of interest-rate-sensitive momentum stocks, many of which are slated to post third-quarter results this week, buoyed the tech-laded Nasdaq Composite Index to a higher close."The story continues to be about interest rates, and to some extent switching from 'higher for longer' to 'how much higher for how much longer?'" said Oliver Pursche, senior vice-president at Wealthspire Advisors in New York.
"With nearly a third of the S&P reporting this week, investors are hoping these 'magnificent seven' companies will end up surprising to the upside," said Sam Stovall, chief investment strategist of CFRA Research in New York. Rapid advances in AI are prompting governments globally to scramble in a race to develop laws governing the use of the technology.
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