Live: ASX 200 ends at a five-month high, Xero rebounds, WiseTech surges
Russian crims responsible for Medibank hack: AFP. Cryptocurrency FTX Australia in administration.
Welcome to the Trading Day blog for Friday, November 11. The ASX ends at a five-month high. Russian crims responsible for Medibank hack: AFP. Cryptocurrency FTX Australia in administration. Global economy 'on the verge of a downturn'. Telstra, Optus and TPG slapped with $33.5m in fines.
The ASX 200 ends 2.8 per cent up at 7158.0 - a five-month high.
On Wall Street, the S&P 500 soared 5.5 per cent, the most since April 2020, the technology-focused Nasdaq Composite Index surged 7.4 per cent, its best gain since March 2020, and the Dow Jones Industrial Average closed 3.7 per cent stronger, the highest since May 2020.
US government bond yields marked their steepest one-day declines in more than a decade. US 10-year yields fell to 3.82 per cent and two-year bond yields were also lower at 4.33 per cent.
Global oil prices rose with the Brent crude price surging 1.1 per cent to $US93.67 per barrel and the US Nymex up 0.7 per cent to $US86.47 per barrel.
The gold futures price jumped 2.3 per cent to $US1753.70 an ounce with iron ore futures up 0.8 per cent to $US88.19 per tonne.
The Aussie dollar climbed to US66.25c at the US close.
ASX soars to record high on tech, 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.
ASX rises as CPI undershoots forecasts
Underlying inflation hits lowest number since early 2021. Rate cut expectations brought forward. Aussie shares a sea of green after US rebound. Sigma in trading halt pending shareholder meetings over Chemist Warehouse merger.