AU Morning Wrap: Banks, Real Estate Rebounds, Uranium Stocks Rally
G'day, mooers! Check out the latest news on today's stock market!
• Dow industrials notch eighth record close of the year
• ASX gains, banks rebound
• Stocks to watch: Boss Energy, Pinnacle
- Moomoo News AU
• Dow industrials notch eighth record close of the year
• ASX gains, banks rebound
• Stocks to watch: Boss Energy, Pinnacle
- Moomoo News AU
Wall Street Summary
Stocks rose Thursday, bouncing back from a sharp selloff in the prior session sparked by a shift in interest-rate expectations.
The $S&P 500 Index(.SPX.US$ rebounded 1.2%. The $Dow Jones Industrial Average(.DJI.US$ gained about 370 points, or 1%, fully recovering from Wednesday's decline. That marked a new all-time high for the Dow, its eighth record close of 2024. The $Nasdaq Composite Index(.IXIC.US$ climbed 1.3%. Eight out of 11 sectors of the S&P 500 rose at least 1%.
AU Market Watch
$S&P/ASX 200(.XJO.AU$ added 0.5 per cent at the open on Friday, with financials including the banks recovering 0.7 per cent as investors watch for signs of contagion around bad debt exposure to US commercial property.
The best performing sector is real estate, which is up 1.9 per cent.
Stocks to Watch
$Boss Energy Ltd(BOE.AU$, $Paladin Energy Ltd(PDN.AU$ soared on a new uranium price rally, the spot price neared 16-year highs again at $US106.25 per pound after Kazakh giant Kazamprotom warned again about production challenges in 2024.
$Pinnacle Minerals Ltd(PIM.AU$, the asset manager, jumped 5 per cent after it revealed affiliates' funds under management topped $100 billion in December and reported a flat half-year profit.
Dividends Paid: None
Economic Calendar (AEDT):
11:30 am: Australian Home Loans (Dec)
11:30 am: Australian Producer Price Index (Q4)
12:30 am: US Unemployment Rate (Jan)
Source: Dow Jones Newswires, AFR
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