Markets Live: ASX pops, Wesfarmers falls
![More records were smashed on Wall St after solid results from key industrial firms Caterpillar and 3M.](http://web.archive.org./web/20171025000039im_/https://www.fairfaxstatic.com.au/content/dam/images/g/y/2/t/v/p/image.related.landscape.120x80.gz7k6j.png/1508888741101.jpg)
Shares are higher with banks and miners driving the gains ahead of CPI data, while Wesfarmers is lower after revealing slower sales growth at Coles.
Shares are higher with banks and miners driving the gains ahead of CPI data, while Wesfarmers is lower after revealing slower sales growth at Coles.
The Australian market looks set to open higher again this morning, thanks to solid gains on Wall Street overnight.
A rotation out of tech stocks has pre-empted US earnings season, and while some analysts are lowering estimates, fund managers are still bullish.
The Australian sharemarket consolidated around the 5-1/2-month high it hit late last week as a two-week run of gains runs out of puff.
Rather than celebrating the ASX's recent solid year-long run, strategists are questioning whether it will continue - and what to do if things turn sour.
The board of troubled ASX-listed biotechnology group Sirtex found it "very difficult" to let go of its former chief executive, Gilman Wong, according to outgoing chairman Richard Hill.
Saudi billionaire Prince Alwaleed bin Talal is joining the long line of sceptics saying bitcoin is a bubble as the digital currency continues to set record highs.
Local stocks are expected to open modestly lower, with little inspiration from overseas markets.
Shares stumbled to snap an eight-day winning streak despite as banks dragged on the bourse ahead of their profit reports.
The Bitcoin market cap has topped $128b for the first time, so why are institutional investors still wary of crypto-investments?
As workers struggle with the uneven fruits of globalisation and automation, investors are backing the next wave of transformative technology.
After piling on more than 250 points and $100 billion in a little over two weeks, the ASX 200 index threatens once more to break above 6000.
New Zealand's dollar dropped the most in a month after the opposition Labour Party won the support of smaller players to form a new government.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7777 | 0.7775 | 0.0000steady | 0.00% steady |
AUD/EUR | 0.6613 | 0.661 | 0.0000steady | 0.00% steady |
Updated: October 25, 2017 - 10:50AM |
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