Australian consumer stocks at record high on rate cut bets

WESFARMERS

30/01/2025 04:40

** Consumer discretionary stocks  .AXDJ  jump 1.3% to a
record high
    ** Conglomorate Wesfarmers  WES.AX  and gaming firm
Aristocrat Leisure  ALL.AX  among the top gainers, rising 1% and
3.5% respectively
    ** Stella Ong, market analyst at Superhero, says that local
market, especially rate-sensitive tech and consumer sectors, is
buoyed by expectations of a February rate cut
    ** Unanimous consensus among major banks points to
surprising decrease in core inflation, potentially prompting RBA
to cut borrowing costs
    ** Morgan Stanley forecasts an optimistic 2025 for
consumers, with expected tax and rate cuts revitalizing normal
spending growth
    ** Sub index last year gained 20.7%, outperforming the
benchmark index ASX 200's  .AXJO  gain of 7.5%

 (Reporting by Kumar Tanishk and Rishav Chatterjee in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))