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Morning Report 07 Oct 24: Dow Jones jumps 300 points to a record close on Friday
Manage episode 443894358 series 3531694
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The Dow Jones closed at a record high on Friday and the NASDAQ rose over 1% following a stronger-than-expected jobs report. This report has lowered expectations for rate cuts and pushed the US dollar to a seven-week high. US bank stocks also hit record highs ahead of their earnings reports later this week, while US bond yields saw their largest increase since April. Meanwhile, Rio Tinto is in talks to acquire lithium miner Arcadium. Closer to home, Aussie shares are expected to open higher, supported by rising oil prices.
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