Despite traders pushing out their bets of when easing will start, Wall Street ended higher. The Australian market is poised to rise 0.5 per cent on Monday.
Already a subscriber?A rapid rise in the number of jobs in the United States has reinforced expectations that rate cuts will be delayed, creating uncertainty over whether the Reserve Bank will finally begin lowering the cash rate in September.
Waitress Rachel Gurcik in Philadelphia. The March jobs report released at the weekend showed a big increase in positions.The robust jobs figure – and the best labour participation figures since November – pushed Wall Street higher on Friday, with the S&P/500 finishing 1 per cent higher. “The US sharemarket is still taking a bit of a Goldilocks interpretation. The economy’s still strong. And it’s not necessarily resulting in higher inflation so the Fed will still be able to cut, just maybe not as much as they expected,” he added.
Traders are also looking ahead to the release of US inflation figures on Wednesday. The Federal Open Market Committee’s March minutes are due on Thursday.National Australia Bank said US inflation data was expected to show a 0.3 per cent rise in March. Westpac’s economists are also forecasting a 0.3 per cent rise.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 LIVE: ASX to edge higher, RBA decision awaitedShares are set for a modest opening gain; techs pace Wall Street advance; Reserve Bank cash rate decision this afternoon; Kathmandu parent blames weak consumer sentiment for declining sales. Follow updates here.
Read more »
ASX 200 LIVE: ASX to slip, Wall St edges lowerAustralian shares are set to follow New York with a modest opening loss. Citi sees ‘profit-taking’ risk for ASX 200. Bitcoin rallies. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, Wall Street rallies broadly ahead of Federal Reserve policy statementAustralian shares are set to open higher after all three US benchmarks advanced. Nvidia erases early losses. Bitcoin slumps. Follow updates here.
Read more »
ASX 200 LIVE: Banks, miners push ASX to record high; Wall St gainsShares hit record high, gold, lithium, iron ore miners gain. Citi warns on Ramsay’s French hospitals. Dow Jones nears 40,000 points. Retail sales ahead. Follow here.
Read more »
Live updates: Banks and energy drag ASX lower, despite Wall St's fresh records overnightThe Australian share market is trading lower on Friday, even as Wall Street's main indices set fresh records, and Reddit debuted on the market with a massive share price jump. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
ASX set to dip despite Wall Street rise; Reddit soars, Apple fallsThe ASX is set for a negative start to the session despite US stocks extending their push to record highs on Wall Street.
Read more »