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- ASX 200 benchmark index was strong today (11 August 2022), up 56.10 points at 10:40 AM AEST
- In last five trading days, the index has gained 1.06%.
- The market has been taking cues from the Wall Street that ended on a positive note on Wednesday.
The S&P/ASX200 opened higher and was 56.10 points or 0.80% up to 7,048.80 points at 10:40 AM AEST on Thursday (11 August). The Australian stock market has been tracking the Wall Street that registered gains on Wednesday as inflation in the US slowed more than expected in the month of July thereby increasing the likelihood of Federal Reserve becoming less aggressive on interest rate hikes.
Key pointers from Market Open
Global equity Indices
Wall Street witnessed bullish sentiments during Wednesday trading session. Considered as a measure for inflation, the headline US Consumer Price Index, rose 8.5% for July and was flat for June month against the expected 8.7% and 0.2% respectively. Also, core inflation witnessed a smaller-than-expected rise.
The Federal Reserve will be looking at the report along with the other significant economic data before the September meeting. It is considered now that the Fed might go a little slow on raising the interest rates in September.
Meanwhile, the S&P 500 went up 2.13% to close at 4,210.24; the Nasdaq Composite gained 2.89% to end at 12,854.81; the Dow Jones Industrial Average gained 1.63% to 33,309.51.
As of 10 August, 20:26 PM AEST, Crude Oil WTI was quoted at US$91.41/bbl while Brent was at US$96.98/bbl.
Gold was at US$1,805.75 an ounce as of 10 August, 20:27 PM AEST.
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