Evening Wrap: ASX 200 higher, iron ore hits US$120 + Uranium prices hit decade high

The Index rallied amid gains from the heavyweight Materials and Financials sectors, Singapore iron ore prices climb to a fresh six-month high of US$120, Australia’s unemployment was unchanged but the economy added an unexpected 64,900 jobs in August, uranium stocks surge as spot prices hit decade highs and Morgan Stanley’s take on coal.

Let’s dive in. ASX 200 Session Chart

ASX 200 closes near session highs (Source: Market Index) Markets

The ASX 200 finished higher and near best levels amid a relatively broad-based rally led by Resources, Financials and Tech. There’s not a whole lot going on for markets at the moment. The Index is stabilising after the sharp ~2% selloff earlier this month, buoyed by the recent strength in iron ore prices and plateauing bond yields. Economic data has been rather tricky for markets, notably: US inflation : Moved up from June low of 3.0% to 3.7% […]

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