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S&P/ASX 200 hits record high as strong demand dynamics push oil price above US$70 per barrel


13:03 Thu 03 Jun 2021
S&P/ASX 200 hits record high as strong demand dynamics push oil price above US$70 per barrel
Gold prices rose 0.4% to US$1,906.80 per ounce on Wednesday, hovering below a near five-month peak achieved in the previous session.
Global investors are awaiting U.S. payrolls data due on Friday to gauge cues on future monetary policy.
S&P/ASX 200 (INDEXASX:XJO) has hit another record high earlier today, with the index lifting 0.9% to 7281.8.
The Big 4 banks were the largest contributors to the market’s gains as Commonwealth Bank (ASX:CBA) hit a fresh record high of $101.85 this morning.
Energy stocks are also continuing to gain, with the sector lifting by 2.84% following a 1.4% rise in brent crude oil price to US$71.25 a barrel. ....

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S&P/ASX 200 falls 1.11% after highest ever close of 7172.8 on Monday


S&P/ASX 200 falls 1.11% after highest ever close of 7172.8 on Monday
Gold was trading at US$1,836.89 per ounce, near its three-month high as last week’s miss on the U.S. jobs growth numbers weighed on the dollar.
US nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April.
S&P/ASX 200 (INDEXASX:XJO) has slipped 1.11% to 7,093.5 with most sectors in negative territory ahead of tonight’s Federal Budget.
This follows a gain of 1.3% on Monday with the index reaching its highest ever close of 7172.8 points.
The price of iron ore has hit a record high for a second day, gaining 7.9% to US$229.55 per tonne. ....

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