ASX edges higher after the broad rally on Wall Street – U.S. jobs number next

December 3, 2021 - 2 months ago
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The Australian share market edged higher in the Friday session after a broad rally on Wall Street on Thursday helped lift investors’ confidence while waiting for the U.S. jobs report (Non-Farm Payrolls).

At the closing bell, the benchmark S&P/ASX 200 index rose +16.0 points, or +0.22%, to 7,241.2, while the All Ordinaries added +7.5 points, or +0.10%, to 7,543.6, while our local currency, the Australian dollar, is currently buying US$0.7055.

Friday’s forecast predicts hiring in the U.S. accelerated in November for the second month in a row.

With much volatility expected the forecast states that 553,000 jobs were added in November, up from 531,000 in October.

The energy sector was among the top performers, while the financial sector was on firm ground, with all “Fab Four” major banks up between +0.7% and +1.3%, respectively.

TPG Telecom dropped -8.6%, to $6.05 on reports that its founder, David Teoh, was looking to sell a significant stake in a block trade arranged by Macquarie’s equities desk.

Stocks in e-commerce retailer Kogan slipped -4.2% to $7.71.

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