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ASX 200 rebounds on global optimism and strong corporate earnings
The ASX 200 rose 95 points (1.13%) to 8512, driven by optimism from Wall Street and strong corporate earnings, including a 6.15% gain for News Corp after its quarterly report. The financial sector rebounded, while the energy sector struggled, with Beach Energy down 3.63% despite a 20% earnings surge. The index remains in a bullish trend, supported above 8380-8360.
ASX 200 stabilizes as tariff delays provide temporary relief to investors
The ASX 200 rose 16 points (0.19%) to 8395, stabilizing after the US postponed tariffs on Mexico and Canada. Investors are keenly awaiting a US-China trade deal, which could further boost the index. Key sectors like banking and mining saw gains, while consumer discretionary stocks faced a pullback.
retail data hints at potential interest rate cuts in australia
November's retail trade data in Australia showed a 0.8% month-on-month increase, below the expected 1.0%, raising the likelihood of a February interest rate cut to around 75%. The Black Friday sales boosted retail activity, but analysts warn of challenging conditions ahead, particularly for companies like Myer and Lovisa, which are facing stagnant household activity and cost pressures.
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