Wednesday 26th April 2023

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Equity markets took a hit after yesterday’s earnings results from First Republic Bank. JBWere’s Sally Auld says most of the movement overnight can be put down to the uncertainty this has created. The expectation that bank uncertainty had disappeared after just a few days was clearly a little optimistic. Softer economic data from the US overnight also dampened enthusiasm. But Microsoft and Alphabet shares kicked higher in after-hours trade, thanks to higher-than-expected earnings results. Today the focus is on Australia’s inflation numbers and what it means for the RBA.

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25 Apr 2023