AU Morning Wrap: ASX Soars After US CPI Slows; Real Estate, Tech Stocks Rally

The $S&P 500 Index (.SPX.US)$ jumped 1.9%, bringing its November gains to 7.2%. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ added 2.4%, pushing its advance this month to almost 10%. A jump in shares of Home Depot and Goldman Sachs helped send the $Dow Jones Industrial Average (.DJI.US)$ up 490 points, or 1.4%, Tuesday, and 5.4% for the month. The S&P 500 and Nasdaq recorded their biggest one-day jumps since April.

$S&P/ASX 200 (.XJO.AU)$ is 113 points, or 1.6 per cent, higher at 7119.8. The All Ordinaries is also 1.6 per cent higher.

$Life360 Inc (360.AU)$: Family tracking platform Life360 is the best performing on the benchmark, up 9 per cent to $9.15. The company reported $78.6 million in revenue in its third quarter, up 38 per cent compared to last year’s same period.

$Seek Ltd (SEK.AU)$: Seek is up 5.9 per cent to $9.13 after holding firm on its fiscal 2024 outlook as the job listing website begins its annual general meeting today.

$Allkem Ltd (AKE.AU)$: Australia's foreign investment regulator has approved the proposed $16 billion merger between mining groups Allkem and Livent. Allkem is up 6 per cent to $9.14.

$Nufarm Ltd (NUF.AU)$: Farm chemicals and seeds group Nufarm has risen 6.7 per cent to $4.75 after posing better-than-expected profit and revenue figures in its full-year report.

$Aristocrat Leisure Ltd (ALL.AU)$: Poker machine giant Aristocrat Leisure has posted a net profit after tax of $1.2 billion as growth in North America offset challenging market conditions in Australia and New Zealand. Shares have slipped 0.6 per cent to $39.64.

$VGI Partners Ltd (VGI.AU)$: Meanwhile, founder Rob Luciano has resigned from the listed hedge fund VGI Partners, which was merged with Phil King's Regal Funds Management last year.

Trading Ex-div: $Plato Income Maximiser Ltd (PL8.AU)$, $Dicker Data Ltd (DDR.AU)$

Dividends Paid: $Waypoint REIT Ltd (WPR.AU)$, $Autosports Group Ltd (ASG.AU)$