Wall Street ended the week with record highs for the S&P 500 and Nasdaq Composite. The S&P 500 rose 0.25% to 6,090.27, while the Nasdaq climbed 0.81% to 19,859.77, driven by gains in Tesla, Meta, and Amazon. The Dow Jones Industrial Average moved in the opposite direction, falling 0.28% to 44,642.52. The S&P 500 and Nasdaq secured their third straight week of gains, up 0.96% and 3.34% respectively, while the Dow fell 0.6% for the week.
The broader market was optimistic after the release of US jobs data, which showed nonfarm payrolls grew by 227,000 in November, above the 214,000 forecast. However, the unemployment rate rose to 4.2%, as expected.
Market expectations for a Federal Reserve rate cut later this month increased.
Turning to Australia, ANZ has announced that Nuno Matos will succeed Shayne Elliott as CEO on 3 July. Matos, a former HSBC executive, brings more than 30 years of experience in retail, commercial and wholesale banking.
One Australian dollar is buying 63.95 US cents, 60.58 euros and 95.83 Japanese yen.
The Australian sharemarket is expected to open lower today, with futures indicating a 25-point decline. This follows four record closes over the last fortnight.
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap, Marketech.
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