Market wraps 4th March 2020
Market Update - Jessica Amir
In breaking news, the Australian economy grew more than expected in Q4 up 0.5%, more than the 0.3% on the cards – also rising 2.2% year on year. That slightly lifted the market but the ASX200 is tracking 1% lower around noon.
US stocks moved back into the red, when the Fed Reserve made an emergency 0.5% rate cut to 1.25%. It was not expected, which is why their market fell about 3%. And now, US President Trump is also calling for rates to be cut again to make US exports cheaper.
All eyes on goldminers, banks & Nextdc (ASX:NXT).