The ASX200 has been up 0.3% at 8,220 points after hitting an new all time high of 8,246 in intra-day trade.
The Aussie bourse followed US Indices higher, after the S&P 500 broke through 5,700 points, the Dow topped 42,000 for the first time and the Nasdaq jumped 2.5%.
Gold has approached record levels and the oil price spiked around 1% on increased expectations the US rate reduction will spur economic activity and drive demand for energy.
All Australian sectors are green, and IT has been leading the charge, up 1.25%, followed closely by Discretionary 0.9% and Energy 0.67%. Financials has been the poorest performing sector, and is trading flat.
Company News
Harvey Norman (ASX:HVN) has been up more than 1.4% on news it’s defending a second class action with the same claims as the first. The company is alleged to have sold warranties identical to free protections provided under Australian Consumer Law. Investors shrugged off the news and sent the stock higher.
Harvey Norman has been trading at $4.95.
Sandfire (ASX:SFR) has been down 0.8% after posting evidence of extended mineralisation at its Portugese Sesmarias Prospect. The latest drill hit comes in at a 41.2m intersection at 1.6% copper, 3.4% zinc and trace amounts of silver from a 377m depth.
Sandfire has been $9.08.
Shares in department stores owner Myer (ASX:MYR) has been down 7.7% per cent after it reported a full year profit slide and cut dividends.
NPAT fell to $52.6 million from $71.1 million in FY23 and around half of the decline was attributed to the underperformance of brands sass and bide, Marcs and David Lawrence.
Myer has been trading at 81 cents.