Trading Day: S&P/ASX 200 jumps to pre-pandemic high

The ASX 200 surged to a pre-pandemic high closing up 42.1 points, or 0.6 per cent, at 6928 after hitting a 13-month high of 6933.9 intraday.

Australian stocks surged on Tuesday but looked set for a weaker Wednesday. Picture: Jeremy Piper

Welcome to the Trading Day blog for Wednesday, April 7.  Australia's sharemarket surged to a pre-pandemic high after big gains on Wall Street over the Easter long weekend and favourable moves in bond and commodity markets overnight. The S&P/ASX 200 closed up 42.1 points, or 0.6 per cent, at 6928 after hitting a 13-month high of 6933.9 intraday.

The IMF raised its economic outlooks and US jobs data underscored brighter prospects for the world’s biggest economy. On Wall Street, the Dow shed 0.3 per cent, the  S&P 500 declined 0.1 per cent and the Nasdaq slipped 0.1 per cent.