US Market Trends

This article highlights the key developments influencing market movements and investor sentiment in both Australia and the US. The key takeaways from the last 24 hours ASX dips as banks and supermarkets decline The Australian share market experienced a slight decline on Tuesday as major banks and supermarket giants faced a sell-off, which outweighed gains in the mining sector. The benchmark S&P/ASX 200 Index (ASX: XJO) dropped by 0.1 per cent, or 10.9 points, closing at 8142, while the All Ordinaries (ASX: XAO) finished flat. Investors were largely unaffected by the Reserve Bank of Australia’s decision to maintain the cash rate at 4.35 per cent, with Governor Michele Bullock signalling that no rate cuts would occur in the near future. The big four banks—Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Limited (ASX: NAB), Australia and New Zealand Banking Group Limited (ASX: ANZ), and Westpac Banking Corporation (ASX: WBC)—all ended the session in the red as investors moved funds from financials [...]