AUSTRALIAN STOCKS RALLY: Here's what you need to know

Asutraliu’s Josh Hazlewood celebrates after getting the wicket of Ahmad Shahzad during the 2015 ICC Cricket World Cup match with Pakistan at Adelaide Oval. Morne de Klerk/Getty Images

The Australian market ran stronger in late trade, pushing the week’s gains to 2.7% and the ASX 200 index to within one session, or 24.5 points, of hitting 6000.

Here’s the scoreboard:

  • S&P ASX 200: 5,975.50 +24.69 (+0.41%)
  • All Ordinaries: 5,936.30 +23.84 (+0.40%)
  • AUD/USD: 0.7681 +0.0031 (+0.41%)

Wall Street closed down overnight with the S&P 500 weaker by 0.5%.

On the local market, stocks went nowhere for most of the day, rising in late afternoon trade to add to the 1.86% surge on Thursday. Eight out of ten sectors were higher.

Westpac was flat at $39.73 after rising 2.66% yesterday. The Commonwealth increased 0.74% to $96.32 and Macquarie Group was up 1.58% to $77.90.

Among energy producers Woodside Petroleum was up 1.76% to $35.93 and Caltex 1.26% to $37.78. Origin Energy was down 0.34% to $11.56.

Information Technology stocks rallied by 1.14% with Computershare up 1.52% to $13.35.

The top stories on Friday:

1. The RBA is running out of room to make a difference in the economy, RBA Governor Glenn Stevens said at the American Chamber of Commerce.

2. The Aussie dollar got destroyed overnight. It went back to 0.7620, below where it was when the Fed made its announcement yesterday morning, but gained a little back in Asian trade.

3. APN News and Media shares jumped today when they came out of a trading halt as 30% of the media group’s shares changed hand. APN’s shares closed up more than 5% to $1.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at