ASX hits record high as Fed gets ‘all clear’ to cut rates
Joanne Tran and Joshua Peach
The Australian sharemarket closed the final session of the week at a record high after a long-awaited sign of disinflation in the US had traders locking in a rate cut from the Federal Reserve as early as September.
The S&P/ASX 200 jumped 69.7 points to close at a record 7959.3 points, topping the previous intraday high set in April.
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