Market Close 10 Dec 24: RBA rate cut around the corner?

Join Steve and Laura as they unpack the day’s market movements, starting with a modest 0.3% dip on the ASX amidst a tug-of-war between sectors. Mining stocks surged 3% on optimism over potential Chinese stimulus, while tech and financials dragged the market down. The Reserve Bank of Australia held rates steady at 4.35% but hinted at possible cuts in early 2025, sending the Aussie dollar tumbling. Investors are now eyeing upcoming inflation and jobs data for clues on future rate moves. Meanwhile, stock-specific news saw Perpetual plummet due to unexpected tax liabilities, while Treasury Wine Estates soared 4% following a strategic Chinese acquisition. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.