The ASX hits another record high, and today's finance news

Sam Yang has a recap of today's finance news.

Transcript

00:00The Australian share market has hit another record high after a record close yesterday.

00:07The benchmark index ended the week 0.5% higher, shrugging off fears around Trump's tariffs.

00:14The Allods and the ASX 200 index closed up around 0.2% each today.

00:19Consumer staples and utilities let the gains.

00:22Before we take a look at the movers now, here in implant company Cochlear slumped by 13.7%

00:29despite posting a 7% increase in net profit to $205 million, while underlying profit rising

00:37by a similar percentage to $206 million.

00:41The company reported a 12% fall in services revenue, while sales revenue was up by 5%.

00:48Wealth manager AMP slumped nearly 15% after posting a 43% drop in profit to $150 million

00:59However, strong market conditions helped lift the underlying profit by 15% to $236 million.

01:07Property developer Mervax operating profit fell by 6.3% to $236 million in the six months

01:15to December, but shares are up by 5.5%.

01:20Turning across the region now, where the NZ50 closed up around 0.6%, Nikkei is trading in

01:25the red, while markets across China are trading higher.

01:30In the US, all three major indices ended higher after data showed US producer prices increased

01:35in January, reinforcing the Federal Reserve's message that it's in no rush to resume cutting rates.

01:42The Dow Jones index up by 0.8%, the S&P 500 up by 1% and the Nasdaq Composite gained 1.5%.

01:51On to commodity markets now.

01:52Gold is on the way down.

01:55Oil rises on hopes for talks between Russia and Ukraine.

01:59And the Australian dollar is a little waker against the greenback.

02:02It's buying around 63.1 US cents.

02:06And that's finance.