Episode Details

Boom! What risk event at Jackson Hole later tonight?! The benchmark behaved like Powell will announce he’s cutting rates, adding 0.8% to close at 7104.1, almost exactly where it started the week. Across the sectors, only telecommunications finished lower – the one fly in an otherwise perfect ointment. The gains were evenly distributed elsewhere with financials, materials, energy, staples, healthcare and real estate climbing between 0.7% to 1.3%. Mirroring what’s been seen the entire week, top and bottom performers were dominated by reporting season. Bega Cheese delivered a tasty treat, surging 11.8% to sit atop the score board. Jumbo Interactive went off, rising 2.3%. Wesfarmers trailed in the distance but still added 1.1%. Viva Energy and Qantas were helped by broker upgrades, climbing 7.2% and 5.5% respectively, while Fortescue rallied 4.4% thanks to gains in iron ore futures and a positive resource update. Not everyone enjoyed such a buoyant Friday, however. PolyNovo was battered and bruised, tumbling 17.5%. It scrapped the bottom of the barrel. Westgold Resources was tarnished, slumping 17.1%. Smartgroup Corporation hit a pothole, losing 11%. Who knows what we’ll be walking into on Monday. Over to you, Jay. 

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