Australian shares reach another milestone on dovish Fed

(Image: Getty)

Fri, 02 Aug 2024

By Derek RoseThe Australian share market pushed further into record territory after Fed chairman Jerome Powell gave his strongest indication the US central bank will cut interest rates next month.The benchmark S&P/ASX200 index traded above 8,100 for the first time on Thursday, finishing up 22.4 points, or 0.28%, to 8,114.7, while the broader All Ordinaries gained 23.4 points, or 0.28%, to 8,343.8.The gains followed dovish comments by Powell as the Fed's rate-setting committee kept US interest rates on hold, as was widely expected. ...

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