# ASX closes up 0.8% after US Fed greenlights rate cuts, NIB shares tumble despite profit rise and lithium woes worsen — as it happened - ABC News

> The ASX 200 closed up 0.8% on Monday after Fed Chair Powell's comments sparked a rally on Wall Street. Brent crude rose 0.7% to $79.53 a barrel, and iron ore slipped to $97.10 a tonne the prior Friday.

- Date: 2024-08-25 · published 2024-08-25T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29063-asx-closes-up-0-8-after-us-fed-greenlights-rate-cuts-nib-shares-tumble-despite
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

This is a routine equity market wrap, and the crude and iron ore moves it describes are small and not driven by new supply or demand news.

## Read by commodity

- BRENT: neutral

## Sources

- abc.net.au: https://www.abc.net.au/news/2024-08-26/asx-markets-business-news-live-updates/104268890

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.