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

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Australian stocks climbed for the first time this week, following a strong lead overnight from global stock markets.

Today’s scoreboard:

ASX 200: 5,670.40 +6.12 (+0.11%)
All Ordinaries: 5,731.50 +5.98 (+0.10%)
AUD/USD: 0.7820 -0.0029 (-0.37%)

In a relatively quiet day’s trade, the local market gained some early momentum before running out of steam later in the session.

The ASX200 financials index rose by 0.44%, with three of the big four banks closing higher while ANZ dipped slightly. Macquarie bank rose by 2.24% on the session.

Resources weighed on the index, with Fortescue down more than 3% while BHP and Rio both finished more than 1% lower.

Among other notable movers, billionaire Solomon Lew’s Premier Investments climbed by more than 3%, and Bluescope Steel was also more than 3% higher.

Top stories:

1. Job vacancies at a record: It’s a good time to be looking for a job in Australia — the number of jobs available in the three months to August was the highest level on record.

2. AI takes over the world of finance: A $96 billion hedge fund uses algorithms based on artificial intelligence to make trends, and the model works surprisingly well.

3. Bitcoin may split again: Bitcoin has been on another charge this week, amid reports that the currency may split again following the creation of Bitcoin Cash in August.

4. The Amazon effect: The Amazon juggernaut continues, as the company has just rolled out a suite of ambitious new products.

5. Aussie dollar still sliding: The Aussie dollar dipped again overnight and continued to fall in Asian trade, largely due to renewed strength in the US dollar.

6. Crypto trader making six figures: A 29-year old high school dropout in the UK is making hundreds of thousands of dollars trading cryptocurrencies.

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