Market Close 14 Nov 24: Bitcoin jumps to new record high

The Australian market ended a three-day losing streak with a slight lift, supported by steady inflation and employment data that matched expectations. While U.S. inflation data hinted at another rate cut next month, the Australian market remains cautious, expecting no cut until early next year. Sectors showed mixed performance: tech led gains, while materials, weighed down by a strong U.S. dollar and China's economic concerns, struggled, especially in mining stocks. Notably, Bitcoin soared to new highs, driven by increased U.S. interest in crypto policy, and several ASX stocks reached record levels. Looking ahead, markets are focused on upcoming economic releases from China, which could influence material stocks tomorrow.   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.