The ASX 200 is off to races on Monday. Here’s why
==========

The ASX 200 is up 0.6% at 7,673.8 points, marking the third consecutive day of gains. The rally is driven by poorer-than-expected economic news out of the US, indicating potential interest rate cuts. US markets soared after the Bureau of Labor Statistics reported that the US added 175,000 jobs in April, below consensus estimates. The US unemployment rate of 3.9% also topped consensus forecasts. Experts believe the slowdown in jobs growth increases the odds of a 2024 interest rate cut from the Federal Reserve. The ASX 200 investors are also watching the upcoming RBA interest rate decision.

#Asx200 #StockMarket #InterestRates

https://www.fool.com.au/2024/05/06/the-asx-200-is-off-to-races-on-monday-heres-why/