ASX lifts after Fed rates news

Australia n shares notched a tepid bounce on Thursday following some dovish rhetoric from the US Fed and positive sentiment around half-year results from NAB.

Federal Reserve Bank Chair Jerome Powell announces interest rates will remain unchanged during a news conference at the bank's William McChesney Martin building on May 1, 2024 in Washington, DC. Picture: Chip Somodevilla / Getty Images via AFP) “They are trading up about 0.5 per cent and then the ASX200 has followed the lead of those futures markets and that has absolutely given the ASX200 a bit of relief today.”Discretionary, energy, utilities, telecommunications and staples all ended in the red, with staples recording a sharp 2.46 per cent fall.

But positive sentiment towards NAB’s half-year results, which showed a $3.49bn profit, lifted the big banks.

Pexa Group Commonwealth Bank Of Australia Dominic Barton North America Brisbane Rates Guidance Quarter Results Equity Futures Supermarket Behemoth Jerome Powell Half-Year Results Interest Rates Iron Ore Giant Tony Sycamore Rate Hike Northern America Futures Markets Glen Campbell Woolworths Limited Brad Banducci William Mcchesney Martin Positive Sentiment Newswire-News Anglo American Plc Retail Giant Net Interest Margin United States Of America Digital Property Exchange Energy Giants Agence France Presse Oceania America Rate Cuts Tepid Bounce Disappointing Trading Update Getty Images Inc. Australia And New Zealand Business Loans Duncan Evans Rio Tinto Limited & Plc Hotter Inflation Data United States Federal Reserve System Market Wrap Sky News Business Reporter Edward Boyd News Conference Australia Market Analyst Queensland

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