STOCKS RALLY: Here's what you need to know

Australia’s Wade Ormsby during the first round of the Shenzhen International at Genzon Golf Club today in China. Stuart Franklin/Getty Images

The Australian market rose for the first time this week, supported by a jump in oil prices rallying local energy producers.

Here’s the scoreboard:

  • S&P ASX 200: 5,947.50 +39.08 (+0.66%)
  • All Ordinaries: 5,917.60 +40.27 (+0.69%)
  • AUD/USD: 0.7748 +0.0069 (+0.89%)

In the US, the S&P 500 index closed 0.5% higher.

On the local market, eight out of ten sectors closed higher. Energy stocks were up 1.5% across the board. Santos was up 2.2% to $7.93 and Origin Energy 2.34% to $12.68.

Banks were higher, led by Westpac at 39.28, up 0.9%. The Bank of Queensland, trading ex-dividend, lost 2.1% to close at $13.68.

The top stories Tuesday:

1. A record employment report. There have never been more Australian’s working than now. And the Aussie dollar loves the massive rise in jobs.

2. Iron ore blues. According to Fortescue analysis, the company’s breakeven price is $US39 a tonne, based on the Australian dollar at 77 cents US. The company’s March quarter production report sent Fortescue’s shares up 5% to $1.95.

3. Cashing out. Nine Entertainment is selling its live events and ticketing business Nine Live to Affinity Equity Partners for $640 million. Nine closed up 3.72% to $2.23.

4. Profit outlook. Woodside Petroleum is planning on low oil prices continuing for years to come. Its shares closed up just 0.2% to $35.48 in a strong market for energy stocks.

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