The Australian share market has rallied in its best day since April 6 after the US Federal Reserve began purchasing corporate bonds, sending a flood of cash into global markets.jumped three per cent in the first eight minutes of trade and trended higher throughout the day only to fade slightly in the final minutes, closing up 222.5 points, or 3.89 per cent, to 5,942.3.The ASX 200 rallied strongly all day, finishing up nearly 4 per cent.
Australian payrolls began to gradually pick up in May after record falls seen the previous month, though jobs were still down sharply compared to before coronavirus lockdowns shut much of the economy. The Australian Bureau of Statistics reported payroll jobs rose 0.4 per cent in the final week of May, compared to the previous week, and were up 1 per cent for the whole month.
Jobs were still 7.5 per cent lower than in mid-March, but that compared to a drop of 8.9 per cent in mid-April which was the peak of the decline.
Wow must be because of the booming economy!! 🤣 fakestockmarket