Have you been following the cricket?
Well…Australia is facing South Africa today in the semi-finals.
India has made it to the finals, after a decisive win over NZ last night.
It’s all down to the last two games now!
The Australian sharemarket fell on Thursday, shrugging off an extended rally on Wall Street and a stronger-than-expected labour force report which showed the economy created 55,000 new jobs last month.
The benchmark S&P/ASX 200 index fell 0.7 per cent, or 47.5 points, to 7058.4 at the closing down, with eight out of the 11 sectors in the red.
The energy sector was the worst performing, tracking the fall in the oil price following an official report that showed swelling US crude inventories. Santos dropped 1.9 per cent to $7.06, Woodside slid 0.8 per cent to $32.1 and Beach fell 4.1 per cent to $1.52.
The increase in employment in October followed an upward revision of 8000 new positions created in September, the data showed. The jobless rate still inched higher to 3.7 per cent from 3.6 per cent.
The $A was holding steady after the report’s release at US65.09¢ after flying to a three-month-high overnight of US65.41¢.
On Wall Street overnight the S&P 500 topped 4500 as investors waded through economic reports for clues on the outlook for the Fed’s next steps.
Retail sales slowed in October and prior months were revised higher – suggesting some US resiliency, while prices paid to US producers unexpectedly declined by the most since April 2020.
Dalian iron ore futures fell more than 2 per cent on Thursday as Chinese authorities intervened to control soaring prices and fresh weak property data fuelled concerns about demand from a key steel-consuming sector.