Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down -0.29% to 6977.10.
The S&P/ASX 200 (INDEXASX: XJO) closed 19.2 points, or 0.3%, higher at 6,997 and the broader All Ordinaries (INDEXASX: XAO) index was 0.2% higher, up 17.2 points at 7,192.3.
The Australian sharemarket rebounded from 11-month lows on Thursday, notching a small gain as markets braced for the official US jobs data on Friday night Australian time.
The Australia share market retreated to a six-month low on Tuesday, as global markets felt the pressure from surging bond yields – despite, in Australia’s case, the Reserve Bank leaving the official cash rate on hold at 4.1 per cent, for a fifth straight month.
The local share market started the week lower, ahead of the US Federal Reserve’s two-day policy meeting, which begins on Tuesday.
A post-result bounce in the Commonwealth Bank of Australia (ASX: CBA) share price helped lift the Australian share market on Wednesday.
S&P/ASX 200 (ASX:XJO) managed a 0.2% gain on Friday, overcoming weakness in healthcare. Karoon Energy Ltd (ASX:KAR) share price rose 4.2%.
The Australian share market or S&P/ASX 200 (INDEXASX: XJO) is expected to open higher on Tuesday, according to SPI 200 futures contracts in Sydney.
The S&P/ASX200 (INDEXASX: XJO) rose 0.3% on Wednesday as the Megaport Ltd (ASX: MP1) share price dived and Pilbara Minerals Ltd (ASX:PLS) share price rises.
