Australian Equities Set for Modest Weekly Rise

Australian shares rose 32 points, or 0.4%, to 9,070 in early Friday trade, snapping two sessions of losses and tracking Wall Street’s overnight rebound ahead of Fed Chair Kevin Warsh’s debut Jackson Hole speech later today. Investors are keen for signals on the rate path, though Warsh has deliberately avoided offering guidance, stressing the Fed’s commitment to price stability. Locally, household spending climbed more than expected in July, marking a third monthly rise. However, gains were limited by caution ahead of next week’s July PMI releases in Australia and top trading partner China, alongside domestic Q2 GDP and July trade data. Tech, commercial services, and healthcare led advances, offset by weakness in industries and retail trade. The four big banks added between 0.4% and 1.0%, while standout movers included Xero Ltd. (8.1%), Pro Medicus (3.8%), and REA Group (2.6%). For the week, the market is on track for a modest 0.2% gain so far, reversing falls in the prior two periods.






