It can be said that the investors, in the present scenario, are carefully tracking any sort of macro news as the equity markets are very sensitive to these types of news. The positive news generally helps the broader equity markets and, thus, the markets witnesses a rise. It can be assumed that the fears of global economic slowdown have reduced in the mind of global market participants after encouraging manufacturing numbers witnessed in the United States and China. It is also important to note that the market players need to closely track the news related to the trade battle between the US and China as the markets are also sensitive to the geopolitical worries. Yesterday (i.e. April 1, 2019), Dow Jones Industrial Average closed the session in green as ended at 26,258.42 which implies a rise of 329.74 points or 1.27% on an intraday basis. Also, on the same day, S&P 500 Index ended at 2,867.19 which reflects a rise of 32.79 points or 1.16%.
Reserve Bank of Australia Kept Cash Rate Unchanged: What You Should Know
Today (i.e. April 2, 2019), the Reserve Bank of Australia (or RBA) had made an announcement that they have kept the cash rate same at 1.50%. As per the statement by Mr. Philip Lowe, outlook with respect to global economy happens to be reasonable even though there has been a slowdown in growth and also there had been a rise in the downside risks. He also threw light on China and stated that the officials have announced certain steps so that the financing conditions can be eased. However, Mr. Lowe had stated that the labour market in Australia is robust and there was a substantial rise in the employment. The unemployment rate, as per the recent statement by Mr. Lowe, stood at 4.9%. The statement also stated that the robust labour market had resulted in the wages growth.
Australian Markets Closed in Green: S&P/ASX200 Was Up 0.4%
Today (i.e. April 2, 2019), the Australian markets closed the session in green as S&P/ASX200 got ended at 6242.4 which reflects the rise of 25.4 points or 0.4% on an intraday basis. The health of the broader Australian economy as well as that of global economy influences the Australian equity markets. Coming to the performance of stocks, Syrah Resources Limited (ASX: SYR) and Eclipx Group Limited (ASX: ECX) have closed today’s session in green as their prices have witnessed the rise of 8.911% and 6.04%, respectively on an intraday basis.
On the other hand, the stocks like Charter Hall Retail REIT (ASX: CQR) and Adelaide Brighton Limited (ASX: ABC) had wrapped up the session in red as their prices fell by 3.011% and 2.863%, respectively. Coming to some of the crucial news, Cycliq Group Ltd (ASX: CYQ) came forward and provided updates on debt restructuring exercise. Read the full news here. Also, Credit Corp Group Limited (ASX: CCP) made an announcement about the completion of fully underwritten institutional placement and also updated on the share purchase plan. Read the full news here.
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