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ASX futures predict the local share market will climb +0.4% on the Thursday session as Wall Street’s ability to shrug off any and all doubts about a Fed cut in December takes hold – despite the Fed having no economic data to rely on.
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This also comes after Australian inflation was revealed to have climbed to 3.8% on Wednesday, but perhaps surprisingly, the market didn’t care about that. After the month we’ve had, though, it might have been too little too late to do any further damage.
What could do damage are reports that the RBA may need to hike rates again in the coming months.
Looking at commodities:
Looking around the local market, Reece Ltd has launched a $35M share buy-back; Lottery Corp has a new CEO, and Wisetech has appointed a new director.
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