The reality that central banks may be unable to curb inflation and avoid recession struck home last week as nervous investors sent stock markets into a downward spiral.
The reality that central banks may be unable to curb inflation and avoid recession struck home last week as nervous investors sent stock markets into a downward spiral.
The market ended on a whimper last week, dropping 0.72% on Friday to 7301.5, but there was a burst of excitement mid-week as investors, hoping the inflation beast has been defeated, took heart from data released in Australia, the UK, and the US.
The market is set to move higher today and by week-end deliver a two-month rally following a positive lead from Europe as it digested positive sentiment from the US Federal Reserve on the slowing pace of inflation.
Heading towards the holiday season the question is can the Australian bourse end the year in positive territory?
US elections, takeovers, cyber security, and bitcoin dominated the news this week as the bulls stuck a tentative toe into the market.
Overnight European share markets opened down, still spooked by what the Fed will do next to defeat inflation as American spending remains sticky and employment numbers defy predictions of a looming recession.
The breach follows the recent Optus data breach, the largest in Australia’s history, and data hacks have also been reported by online wine seller Vinomofo and Woolworths’ MyDeal website.