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Switzer Daily
10 May 2021
Share markets mostly rose over the last
week helped by good earnings, dovish central banks and expectations that the
softer-than-expected US jobs report for April will help keep the Fed
accommodative. For the week US shares rose 1.2% to a new record high (but with
the tech heavy Nasdaq losing 1.5%). Helped by the positive global lead and a
dovish RBA, the Australian share market also rose 0.8% making a new recovery
high with very strong gains in materials, energy and financial stocks. While
the ASX200 has worked off technically overbought conditions after its
early April surge, it’s now just 1.1% below its all-time high from February