PEAK ASSET: ARVO WRAP 2 November: US Fed call sparks ASX rally | Tech, banks and real estate jump; Origin sinks 6pc | James Bay Minerals discovers second pegmatite field at Aero Property |

It’s been a busy couple of weeks here @PeakHQ with our spotlight conference and then a roadshow across 4 cities with our portfolio company ASX:1AD.

Biotech has been one of our highest performing sectors and we’re certainly seeing more activity in the space.

Have you invested in any?

Let us know your favourites!

Across Markets…

The ASX’s rate-sensitive sectors rallied on Thursday, after the US Federal Reserve once again left rates on hold, causing traders to up bets that rates had peaked in the US.

The S&P/ASX 200 closed 62.4 points, or 0.9 per cent, higher at 6899.7.

In a press conference after the Fed’s decision on Wednesday, chairman Jerome Powell said slowing down was giving the central bank a better sense of how much more was needed to bring inflation to target.

“It’s fair to say that the question we’re asking is ‘should we hike more?’” Mr Powell said.

However, the Fed chairman’s still-hawkish comments failed to temper the market’s reaction. US equity markets rallied and bond yields eased following the Fed’s decision.

Seema Shah, chief global strategist at Principal Asset Management, said while the Fed may be weighing up an additional hike, they were clearly nearing the end of their tightening cycle.

“Although the FOMC may not be talking about it today, within a few months, the question will no longer be, will they hike again, but when will they cut,” she said.

On the benchmark, tech stocks were the best performing, up 3.8 per cent, following a fourth straight session of gains on the Nasdaq, overnight.

Mortgage rate exposed sectors also rallied. Real estate stocks jumped 2.4 per cent and financials gained 1.4 per cent.

ANZ gained 2 per cent to $25.37, Westpac jumped 2.1 per cent to $21.17, NAB rallied 1.5 per cent to $28.57, CBA added 1.6 per cent to $98.43.

Utilities were the worst performing, down 3.8 per cent. The sector was weighed by Origin Energy, which dropped 6.6 per cent to $8.47 after major shareholder AustralianSuper rejected a sweetened takeover offer from Brookfield and EIG.

Source: AFR