US stocks end a winning week, S&P 500 nears record due to Fed rate cut hopes and strong US company profits; Australian market set to dip.
US stocks ended another winning week on Friday, while the Australian sharemarket is set to dip at the open, with futures indicating a loss of 15 points or 0.2%. The S&P 500 has climbed back within 0.6% of its record, driven by hopes of interest rate cuts from the Federal Reserve and strong profit reports from major US companies. The Australian federal budget will be delivered on Tuesday.
May 12, 2024
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