Weekly markets wrap: investors anxiously await Jackson Hole outcomes, Australian media companies soar in FY performances
The Australian share market is anticipated to start on a high note today after strong performance on Thursday and a positive night on Wall Street. This week, major Australian media companies revealed strong earnings in their FY and HY reports – one of which is stirring controversy after it publicly announced a round of layoffs in July.
In US economic data, the economy, as measured by GDP, contracted at a 0.6% annualised rate in the June quarter. The annual Jackson Hole symposium held in Wyoming today will determine if Fed chairman Jerome Powell decides to continue the aggressive hiking of interest rates.
