An already verdant May for Wall Street finished with another push higher as stocks rallied after a report showed inflation is at least not worsening.
Australian stocks ended the week on a high note,ending a three-day sell-off fuelled by higher-than-expected inflation data for April.
The Australian sharemarket fell for a third consecutive trading session to a one-month low,as investors sold off equities amid concerns persistently high inflation would prompt the Reserve Bank to keep interest rates high for longer.
The Australian sharemarket has extended its losses after the release of the latest inflation data.
Boss Energy shares shed 10.9 per cent of their value after revealing that three executives had sold more than $26 million worth of their shareholdings in the company.
The US and three other countries are halving the time for settling deals from two days to one. That will increase costs,and make it harder for international investors to buy into the world’s largest economy.
The case involves the intriguing background and wealth of Guo Wengui,a billionaire who amassed a strong following criticising the Chinese government.
The Australian sharemarket rebounded on Monday to recover almost all its losses from Friday,when investors sold equities amid fears US interest rates would remain higher for longer.
Australian Craig Wright has long claimed to be Satoshi Nakamoto,the mysterious creator of bitcoin. But the courts disagree.
Australian shares hit a 10-day low on Friday after investor confidence was rocked by falling commodity prices and a broad equities sell-off on Wall Street,prompted by economic data suggesting US interest rates may remain high.
The Australian sharemarket pared back its early sharp losses,but mining heavyweights dragged the local bourse into negative territory.