ASX 200 climbs to record high, amid positive leads from Wall Street after big tech reports and RBA rate cut hopes
The sharemarket has jumped to a record high of 8515.7 points, amid positive leads from Wall Street after big tech reports and Reserve Bank rate cut hopes. DeepSeek will not derail Microsoft’s $US80bn AI investment this year. Zip and MinRes drop.
The ASX 200 continues to gain ground, up 0.8 per cent to a record 8,515.7 points, on US tech and Reserve Bank rate cut hopes.
The consumer discretionary index is the biggest gainer, followed by health care and telecommunication services. However, energy, property and mining stocks are down.
US policymakers voted unanimously to keep the Fed’s benchmark lending rate at between 4.25 percent and 4.50 percent, the Fed announced in a statement.
The decision marked a pause following three consecutive rate reductions, which lowered the Fed’s key lending rate by a full percentage point.
Fed chair Jerome Powell says it will ‘wait and see’ what Trump’s policies are.
Locally, hopes are rising that the Reserve Bank will start cutting rates as inflation drops.
The Australian dollar is trading around US62.37c, up slightly.
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Originally published as ASX 200 climbs to record high, amid positive leads from Wall Street after big tech reports and RBA rate cut hopes
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