The economy appears to be at a turning point as Reserve Bank Governor Philip Lowe hints at another rate cut next week.
market wrap
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The China trade war, Saudi oil crisis and low interest rates have all heightened global uncertainty. You would think this is a recipe for poor-performing markets, but the All Ordinaries Index and other world markets have continued to show resilience.
The much-anticipated reporting season is critical to understanding the direction of the market over the next 12 months, and could not have come at a more interesting time with the Australian market recently making a new all-time high.
While miners led the corporate reporting season, which is currently underway in Australia, what can we expect across the broader market?
This week the ASX 200 rose strongly reaching its highest level since December 2007 and just a few per cent away from achieving the elusive new all-time high.
The market rose more than 2% on Monday following the surprising election result, as short-sellers scrambled to cover positions, with banks some of the big winners.
Lendlease rose 10.6% on whispers of a potential takeover by a major Japanese company, while the US-China trade war escalation has seen Evolution Mining shares rise more than 9% in the past week.
