AUSTRALIAN STOCKS RECOVER: Here's What You Need To Know

Photo: Stephen Morton/Getty Images.

After US markets staged a huge rally overnight, Australian stocks followed suit, finishing the week up.

The Dow and the Nasdaq were up 1.8% while the S&P 500 was up 1.7%.

Friday was a big day, with the market up more than 1.5% to end the week in positive territory after a volatile week.

Here’s the scoreboard.

  • S&P ASX 200: 5,465.60 +84.15 (+1.56%)
  • All Ordinaries: 5,440.10 +80.69 (+1.51%)
  • AUD/USD: 0.8139 +0.0017 (+0.22%)

On the ASX, all the major banks were trading up, as were the major miners.

All the market’s industry sectors were up, including energy, which was crushed earlier this week on the back of falling oil prices.

Here are the top business stories today.

  1. Popular Sydney Vietnamese restaurant MissChu is up for sale after being placed into voluntary administration with $4 million in debt.
  2. Australian retail data missed expectations today, clocking just 0.1% growth for November. The market was expecting 0.2%. All the details are here.
  3. TV show ad man Todd Sampson is joining the Qantas board.

Here’s the chart.

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