australian market wrap

A disappointing result given our proximity to the all-time high. Just the gold, energy, and staples sectors ended in the black today.

All the important stuff that happened on the Australian stock market today, all in one place.

Energy and resources stocks relinquished some of their respective gains from earlier in the week, property stocks logged solid gains.

Markets love lower rates, and the Fed's messaging following Wednesday's FOMC meeting is screaming three cuts before the end of the year.

The S&P/ASX 200 reached its zenith of 7738 just 26 minutes into trading today, and then it was a general trickle lower until the close.

Iron ore miners helped the index to a modest but welcome gain. A rally in the iron price back above US$100/t was the catalyst.

There were some promising moves in base metals, lithium and uranium stocks which benefited from modest rallies their underlying commodities.

It was a tough end to a tough week for Aussie stocks as the S&P/ASX 200 dropped another 43 points. The weekly loss was over 170. Ouch!

The ASX was helped by a long overdue rally in major mining stocks, while a triple downgrade on the Big 4 banks by Macquarie hit hard.

Apart from the modest gain, you could say it was a stalemate on the Australian stock market today.