Aussie Market Dips, Tech Surges; Iran Ceasefire Boosts Global Rally

0:00It's April 16th. Welcome to Sydney News Today, powered by AI. I'm Cory with the story. Australia's stock market went against the global flow yesterday, closing lower by 0.26%. The S&P-slash ASX 200 dropped 23.7 points to 8,955, dragged down by weak banks and miners, while Biva energy halted trading after a big fire hit its G-long refinery. One of just two in the country that handles up to 100. 20,000 barrels of oil a day. Tech stocks buck the trend here, jumping 7.4%, but the big four banks all fell. Commonwealth down 2.77%, Westpac 1.65, National Australia Bank, 2.49, and ANZ 1.28. Minas were mixed too, with four to skew up a touch, but BHP, Rio Tinto, and gold plays like northern star and evolution sliding. Meanwhile, global markets kept rallying on hopes

1:02the US and Iran extend their ceasefire, pushing the broadest world index to a record and marking 10. Straight days of gains. Over in the US, the S&P-500 climbed 0.8% passes January high, as oil flow fears eased. Aussie jobs data helped steady nerves too. The unemployment rate held at 4.3% in March, shrugging off war-driven price hikes. The Aussie dollar hit its highest since June 2022, around US 71.70 cents, riding a weak greenback. If those talks pan out and end the war for good, investors could refocus on profits and snap up bargains in tech and beyond, shaking off the oil shock. For smoother economic sales ahead.