Shares tracked Wall Street higher on Wednesday after US inflation data stirred a mixed reaction in markets and failed to burst optimism that the US Federal Reserve will move to cut interest rates by the middle of 2024. On the day, the S&P/ASX 200 added 0.2 per cent or 16.9 points to 7729.4 points for the second straight day of gains as it finished 1.5 per cent shy of last Friday’s record closing high of 7847 points.
So, I think in terms of market reaction the bond market got it right, shares not so right. The Fed is meeting next week to issue projections and I doubt they will accelerate the forecast rate of cuts, if anything they might decrease it a little.” Stock specific news The best-performing stock on the S&P/ASX 200 was lithium hopeful Liontown Resources. Its shares advanced 6.1 per cent to $1.
Source: Loan Digest (loandigest.net)
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