The ASX has opened stronger, after US stocks rallied close to their records as head of the Federal Reserve Jerome Powell said rate cuts were coming soon.
The Australian sharemarket has opened stronger, after US stocks rallied on Friday after the head of the Federal Reserve said long-expected interest rates cuts were coming soon to help the economy.
Online retailer Kogan was up at 6.7 per cent at the open, after announcing it would pay its first final dividend in several years, of 7.5¢. The company only started paying dividends again in the first half of last year, after a three-year pause during the pandemic.Endeavour Group was the biggest loser of the large caps, down 4 per cent, despite the Dan Murphy’s and BWS owner reporting record sales of $12.3 billion, an increase of 3.
Rio Tinto was tracking down slightly in opening trading, while BHP and Fortescue both grew 1.1 per cent. The big four banks all grew at the open, led by Westpac . The Dow Jones rose 462 points, or 1.1 per cent, to close above the 41,000 level for the first time since it set its own record in July, while the Nasdaq composite jumped 1.5 per cent.Bloomberg
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