Market Close 19 Sep 24: ASX 200 hits third-straight all-time high

The ASX 200 hit a fresh record high today after the US Federal Reserve announced a mammoth 50 basis-point rate cut. While U.S. markets initially surged on the news, they later dipped when Fed Chair Jerome Powell hinted at smaller rate cuts ahead. Australia's jobs data surprised with higher-than-expected part-time job growth, though full-time jobs fell. Mining and energy stocks rebounded, but healthcare and industrials struggled, with ALS Ltd dropping sharply after a disappointing trading update.

 

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