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Australian Stocks May Extend Longest Winning Streak Since 2015

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Australian Stocks,Longest Winning Streak,Federal Reserve

(Bloomberg) -- Australian stocks are on their longest winning streak in almost nine years, and the rally appears poised to continue as the benchmark flirts...

-- Australian stocks are on their longest winning streak in almost nine years, and the rally appears poised to continue as the benchmark flirts with fresh record high levels.The S&P/ASX 200 Index has clocked nine-straight days of gains, their best stretch since December 2015. A rise in futures points to a further advance Thursday, after increasing signs that the Federal Reserve will cut interest rates next month lifted shares on Wall Street.

Better-than-expected reports from local banks and tech firms coupled with a modest recovery in mining stocks have supported the Australian benchmark. Earnings reports from BHP Group Ltd. and Fortescue Ltd. next week are among key points to watch, along with whether the decline in iron ore will continue.Former NL MVP and 6-time All-Star Joey Votto announces his retirement from baseball

Australia said it will jointly manufacture long-range Naval Strike Missiles and Joint Strike Missiles with Norway's Kongsberg Defence in the city of Newcastle on Australia's eastern coast, the only site outside of Norway. Defence Industry Minister Pat Conroy said the Australian government will contribute A$850 million to establish a manufacturing facility with Kongsberg at the Newcastle Airport precinct later this year.DJT has acted as a proxy for Trump's election chances.

 

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