AU Morning Wrap: ASX Pushes Higher; Weebit Nano Rallies on First Revenue

The $S&P 500 Index(.SPX.US)$ rallied Friday, capping its best weekly performance since November 2022, after the latest monthly jobs report suggested the Federal Reserve's interest-rate raising campaign is working.

The broad index gained 0.9 per cent, bringing its gains for the week to 5.9 per cent. The index is up 14 per cent this year. The $Dow Jones Industrial Average(.DJI.US)$ added about 200 points, or 0.7 per cent, on Friday, while the $Nasdaq Composite Index(.IXIC.US)$ rose 1.4 per cent. Those indexes also recorded their biggest weekly percentage gains of the year.

The $S&P/ASX 200(.XJO.AU)$ is 20.3 points, or 0.3 per cent, higher to 6979. The All Ordinaries is also 0.3 per cent higher.

Early in trading, the healthcare sector is the best performing, up 1.3 per cent, buoyed by a 2 per cent jump in sector heavyweight $CSL Ltd(CSL.AU)$.

$Westpac Banking Corp(WBC.AU)$: Westpac is 1.9 per cent higher to $21.91, after reporting a 26 per cent jump in full-year net profit to $7.2 billion and an improved 72¢ final dividend. It also announced plans for a $1.5 billion on-market share buyback reflecting its strong balance sheet.

$Goodman Group(GMG.AU)$: In its first quarter update, Goodman Group forecast FY24 operating earnings per share growth of 9 per cent, and a full-year distribution of 30¢ per share. Shares have inched up 0.7 per cent to $22.20.

$Weebit Nano Ltd(WBT.AU)$: Weebit Nano has soared 9 per cent to $4.25 after recording its first ever revenue of $US100,000.

$Block Inc(SQ2.AU)$: Block Inc is among the worst performing, down 7.1 per cent to $75.40, after jumping more than 20 per cent on Friday on revised guidance.

Trading Ex-div: $Champion Iron Ltd(CIA.AU)$, $Embark Early Education Ltd(EVO.AU)$

Dividends Paid: $United Overseas Australia Ltd(UOS.AU)$, $COSOL Ltd(COS.AU)$