the COB - 09.07.24

Consumer sentiment may have slipped, but investor sentiment bounced back today, taking the S&P/ASX200 0.84% higher to 7,828.30 and crossing above its 20-day moving average.
The broad based rally saw all sectors finish in the green, led by the telcos, with Telstra shares rising 2.18% after revealing it's increasing its mobile plans by up to $4 a month.
The financials performed strongly with CBA shares rising 1.75%. This came as Westpac's monthly read on consumer sentiment fell 1.1% with fears of persistent inflation and further interest rate rises weighing on households. And the NAB business survey showed business conditions weakened further in June.
Insignia Financial was the best performing stock, up 13.64%, on reports that it's a private equity takeover target.
Bapcor revealed it had rejected a $1.83 billion buyout offer from Bain Capital, while reconfirming its profit guidance and appointing a new CEO.
Gold producer Capricorn Metals was the worst performer, falling 2.69%, as the gold price came off along with a broader slump in commodity prices. Despite that, Rio Tinto and BHP shares rebounded.
Tonight, global investors will be listening for clues from Fed Chair Jerome Powell on monetary policy, as he testifies before the US Senate banking committee.
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[@vastcore]

Thanks for the insight

[@WishBlessing]

Thanks