Wall Street has dropped as economic data comes out showing the US economy grew at the fastest pace in nearly two years. But that hasn't put off Australian investors, with the ASX 200 rising on lithium, mining and a supermarket chain's good fortune.
All Ords: +0.3% to 7,022 pointsS&P 500: -1.2% to 4,137 pointsSpot gold: flat to $US1,985/ounceUS 10-year bond: -0.1ps to 4.85%Aussie stocks are rising this morning, despite a downer on Wall Street overnight and fears there that rates will rise again.
We've got early gains mostly in the mining space, including lithium. That's after news today that billionaire Gina Rineheart is investing more in this critical mineral. On the flipside, we have Harvey Norman down, after its latest results showed sales are significantly off. No, Harvey, No!Dairy farmers stop striking while bus drivers refuse faresFirst, in regional Australia, dairy farmers have stopped what their union says is their industry's largest strike.
Over in the Gold Coast, about 300 bus drivers are joining their colleagues in Logan and the Sunshine Coast in another form of industrial action.That's as they push for greater investment in bus services in Queensland.Not much. It rose modestly overnight and is now back around 63 US cents.Market pricing for an interest rate hike on Melbourne Cup Day has pulled back a bit after the RBA indicated it wasn't that shocked by the latest inflation data.
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