Winding up a whiplash week 😵
In a mirror image of recent days, the market opened at the highs then erased all gains by early afternoon. Then in a familiar pattern this week, the afternoon session unearthed the buyers. The energy sector added over 2% after crickets from OPEC+ sparked a higher oil price. Materials added nearly 1% thanks to BHP and Rio defying a dip in iron ore futures. Blue-chip banks also made the grade, financials up 0.8%. Markets didn’t like CSL denying acquisition rumours, down over 2%, while a decent sell order from an ex-Chairman sent TPG shares tumbling. Aussie goldies opened down 2% as gold continued to struggle, but die-hard bugs erased half the losses by the close. All in all, the ASX200 closed around 20 points higher or +0.3%. Will non-farm payrolls matter for markets tonight? Yes, it will - keep a sharp eye out for wage inflation. Oh, and after all that noise - the ASX200 is all-but unchanged over the week!
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