{"id":57034,"date":"2026-08-20T02:56:42","date_gmt":"2026-08-20T02:56:42","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-asia\/uncategorized\/australian-shares-rally-before-us-jobs-report-release\/"},"modified":"2026-08-20T02:56:42","modified_gmt":"2026-08-20T02:56:42","slug":"australian-shares-rally-before-us-jobs-report-release","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/analysis\/australian-shares-rally-before-us-jobs-report-release\/","title":{"rendered":"Australian shares rally before US jobs report release"},"content":{"rendered":"\n

3rd May 2024 — Australian shares exhibited an observable increase, with the S&P\/ASX 200 Index<\/a> climbing by 42.00 points or 0.6%, to settle at 7,629.00. This rise came as investors positioned themselves ahead of the release of the US jobs report<\/a>, anticipated to show a decrease in job additions from March to April.<\/p>\n\n\n\n

\"Chart<\/figure>\n\n\n\n

SEE: ASX experiences a gradual upswing on the on the VT Markets app<\/a>.<\/em><\/p>\n\n\n\n

The US Labour Department <\/a>is expected to report a job increase of 233,000 for April, a decrease from the 303,000 jobs added in March, according to the Associated Press<\/a>.<\/p>\n\n\n\n

This forecast has potentially played a role in shaping investor sentiment, as US economic indicators <\/a>often have a significant impact on global market dynamics, including Australian securities.<\/p>\n\n\n\n

The rally in the Australian bourse was predominantly led by the real estate sector<\/a>, which saw a surge of 2.1%. This was followed by gains in consumer discretionary and information technology sectors, which advanced 1.9% and 1.5% respectively. These sectors’ performance highlights a robust appetite for risk<\/a> among investors, driven by both domestic factors and global economic outlooks.<\/p>\n\n\n\n

Australian economic indicators<\/strong><\/h3>\n\n\n\n

The Australian services sector’s expansion slowed in April, though it remained robust. The Judo Bank Australia Services PMI Business Activity Index <\/a>indicated a decrease to 53.6 from 54.4 in March, still marking the second-fastest expansion in the past 12 months. Additionally, the Judo Bank Composite PMI stood at 53 for April, slightly down from 53.3 in March, suggesting sustained growth in the private sector.<\/p>\n\n\n\n

Australian household spending<\/a> growth decelerated to 2.1% in March from 4.0% in February, reflecting ongoing challenges with the high cost of living affecting consumer behavior. Moreover, the value of housing loans saw a significant annual increase of 17.9% to AU$27.6 billion, with a monthly rise of 3.1% in March 2023, indicating continued strength in the housing market despite broader economic pressures.<\/p>\n\n\n\n

In corporate news, Macquarie Group<\/a> reported a 32% drop in profit attributable to ordinary equity holders for the year ended March, totaling AU$3.522 billion. Following this announcement, shares of the financial services provider declined by 2%.<\/p>\n\n\n\n

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Australia's Macquarie posts 32% fall in full-year profit https:\/\/t.co\/jBdZn8BLKX<\/a> pic.twitter.com\/IquoFKLHaI<\/a><\/p>— Reuters Business (@ReutersBiz) May 2, 2024<\/a><\/blockquote>