Economists say the Reserve Bank might have lowered interest rates too far after a surprise inflation print revealed price pressures are still running hot.
Wall Street extended its rally overnight as revived tech strength and the increasing probability of a December interest rate cut from the US Federal Reserve put investors in a buying mood.
Wall Street has extended its rally as a spate of economic data appeared to support the case for the US Federal Reserve to implement its third and final rate cut of the year in December.
Solid gains on Wall Street follow improved odds of a US interest rate cut in December with the tech-heavy Nasdaq out front as investors defy valuation concerns.
Australia's share market has bounced from a recent sell-off after hopes of US interest rate cuts overwhelmed a gloomier outlook for local borrowing costs.
Australia's share market has crumbled to its lowest level since June, as concerns about stretched valuations meet a reduced outlook for interest rate cuts.
Wall Street stocks slid overnight in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and US jobs data muddied the labour market outlook.
Mining and energy stocks have struggled to counterbalance a weak financial sector, leaving the Australian share market slightly lower ahead of key overseas economic data returning from a US government shutdown.
The US stock market fell following another jarring session overnight, as worries keep dogging Nvidia, bitcoin and other Wall Street stars that their prices shot too high.
The Australian share market has taken its second-biggest loss of the year as worries around technology valuations, inflation and global economic factors wore at investor confidence.
