Australian shares edge higher in muted start. Pilbara shares shopped. Tesla slumps. Oil tempers its rally as fighting in Lebanon escalates. Follow updates here.
Australian shares have inched tentatively higher this morning as traders weigh the risks of escalating tensions in the Middle East, which gripped markets in the previous session. The S&P/ASX 200 is 15.8 points, or 0.1 per cent, higher at 8207 points. That’s after the index closed largely unchanged in yesterday’s session as a sharp rally in energy due to heightened fears of a broader war in the Middle East helped offset losses in risk-on technology and consumer shares.
On Wall Street, as traders were similarly hesitant, awaiting September jobs data, scheduled for release on Friday, to see whether the data may alter bets on the pace of rate cuts. The Dow Jones, S&P 500 and Nasdaq all edged less than 0.1 per cent higher. Stocks in focus The Australian Financial Review’s Street Talk column can reveal that Morgan Stanley and Bank of America’s equities desks were shopping a block trade in the $9.
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