Fed Holds Rates Steady At First Meeting Of 2020
As expected the US Federal Reserve held its benchmark interest rate steady on Wednesday, as the economy stayed on a moderate growth path.
Read MoreAs expected the US Federal Reserve held its benchmark interest rate steady on Wednesday, as the economy stayed on a moderate growth path.
Read MoreDon’t expect the Reserve Bank to do anything to interest rates at its first meeting for 2020 next Tuesday, or for most of the rest of the year. After three rate cuts in 2019, inflation has not yet moved to the bottom of the RBA’s preferred 2% to 3% range over time.
Read MoreFinancial services company ClearView Wealth says its first half of 2019-20 underlying profit will be down by around 23% to about $10.2 million, thanks to rising claims costs and policy lapsing.
Read MoreTreasury Wines shares plunged more than 25%, or more than $4 yesterday in the wake of the shock earnings downgrade released on Tuesday night.
Read MoreSome rare good news amid all the downgrades and fears about the impact of the China virus crisis – copper and gold miner Oz Minerals says its plans to ramp up copper and gold output at its new Carrapateena mine in South Australia remain on track after production began on schedule in December.
Read MoreA surprise from Apple and Warren Buffett and his Berkshire Hathaway will be happy as the tech giant revealed new records for both revenue and income in the holiday (December) first quarter.
Read MoreThe ASX will steady and see a solid rebound at the start of trading today but gold stocks will be weak after prices fell in Tuesday’s rebound on Wall Street.
Read MoreShares in Treasury Wine Estates will be hammered when ASX trading resumes today after a surprise after-hours earnings downgrade off the back of weaker than expected interim earnings.
Read MoreShares in waste removal group, Bingo Industries ended the day steady at $2.85 after it surprised with an update that revealed the Australian Competition and Consumer Commission was conducting an investigation into price adjustments made in July 2019 in the building and demolition waste sector in NSW.
Read MoreMarkets sold off yesterday for a second day after the death toll from China’s coronavirus jumped to more than 100 with over 3,000 cases reported worldwide and hundreds more suspected.
Read MoreFurther evidence that the Australian economy is drifting towards a slow down or even recession – despite the continuing growth in the labour force.
Read MoreOil Search shares fell more than 8% after it released a weak quarterly update and forecast for 2020 at the same time global markets sold off on fears the coronavirus scandal in China was out of control and would whack global demand for oil and gas.
Read MoreListed lighting retailer Beacon Lighting has joined the growing list of companies involved in retailing to warn investors of a slowdown in sales and earnings for the December half-year.
Read MorePresident Xi Jinping has held a politburo meeting to fight the “accelerating” outbreak with deaths in China now more than 80 while nearly 3,000 cases have been reported around the world. Major cities are in travel lockdown with air travel banned across parts of China.
Read MoreWatch oil and copper prices which are already under pressure from investors fearful of the impact of the growing coronavirus crisis on China’s economy.
Read MoreWhile normally this week’s meeting of the US Federal Reserve would dominate markets and investor thoughts, the coronavirus crisis in China will grab all the attention investors this week and knock market sentiment.
Read MoreIn fact, this week is the first of the peak weeks for the current earnings season with over 100 S&P 500 companies due to report. Besides Apple tech giants Microsoft, Tesla Facebook and Amazon are also due to report, along with energy majors Chevron and Exxon Mobil and giant plane maker, Boeing.
Read MoreWatch the latest updates on China’s coronavirus whack the share prices of our major iron ore exporters – Rio Tinto, BHP and Fortescue Metals Group when ASX trading resumes later this morning.
Read MoreThe uncertainty in the national labour market was again underlined by the December data issued by the ABS which showed a surprise dip in the jobless rate to a nine-month low of 5.1% from 5.2% in November and 5.3% in October.
Read MoreShares in construction and contracting group, CIMIC (The old Leighton Holdings) took a hammering yesterday (like those of Downer EDI did) after it revealed a big clean up and review of its businesses that will see it take a $1.8 billion dollar post-tax impairment on a Middle Eastern company.
Read MoreShares in Downer EDI joined the downgrade crunch club yesterday after directors slashed 2019-20 earnings forecasts by around 12%.
Read MoreWell, the naming of former ANZ CEO, John McFarlane as the incoming chair of Westpac did nothing for the embattled bank’s share price yesterday.
Read MoreWestpac is expected to name former ANZ CEO, John McFarlane as its new chair, to replace Lindsay Maxstead who is leaving the bank in the wake of the multi-billion dollar money-laundering scandal.
Read MoreShares in copper and tin miner, Metals X have fallen to historical lows after appointing Canaccord Genuity and Hartleys to review the company’s copper mines including the Nifty and Maroochydore projects.
Read MoreSantos has boosted its 2025 production target 20% from the already ambitious target it set only in December.
Read MoreNo wonder shares in Coles and Woolworths soared to record highs late yesterday – a major potential rival from Germany has quit before it got around to opening a store in this country.
Read MoreDespite smoke and dust from Australia’s bushfires hampering output at its coal operations, BHP has maintained its production and cost guidance across its portfolio for the year to June after an uneventful three months to December.
Read MoreAMCIL has revealed it has finished the revamp its investment portfolio in a way similar to that revealed on Monday by its larger listed investment company stablemate, Australian Foundation Investment Co.
Read MoreStruggling Melbourne packaging group, Pact is putting its contract manufacturing division up for sale to relieve the pressure on the company’s finances by raising enough cash to pay down debt.
Read MoreShares in nickel miner, Western Areas (WSA) ended down 0.35% at $2.85 yesterday despite encouraging news of two major metal contracts.
Read MoreAustralia’s largest LIC has revealed a significant switch in its investments which has seen it slash its involvement with the country’s banking, finance and resource sectors.
Read MoreSuper Retail – which owns Supercheap Auto, Rebel Sport, Boating Camping Fishing (BCF) and Macpac – says first-half trading had been subdued, with sales in its outdoor goods divisions directly hit by bushfires and smoke haze concerns and it is looking at a fall in earnings before interest and tax of up to 9% for the six months to December.
Read MoreShares in online electronics retailer Kogan plunged 22% on Monday after a trading update fell short of market forecasts.
Read MoreLike its stablemate, Mirrabooka Investments, the disappearance of the threat to dividend imputation from an ALP win in the 219 federal election saw Australian Foundation Investment Co, the country’s biggest listed investment co (LIC) slash returns to its investors for the six months to December 31.
Read MoreNufarm shares steadied yesterday in the wake of Friday’s slide on a more definitive profit downgrade for the six months to January 31.
Read MoreThe essential paradox at the heart of health insurance – younger, healthier customers subsidising older, more health challenged customers has again emerged to bite nib on the profit and loss account.
Read MoreAs we forecast last month, China’s 2019 crude steel production hit a record of just under 1 billion tonnes and there’s every chance that will be topped this year.
Read MoreChina’s economic growth slowed to the weakest pace since 1990 in 2019.
Read MoreOil prices ended with a modest gain on Friday but notched up a loss for a second week as traders continued to assess the outlook for energy demand in the wake of the China-US trade deal and final Senate approval of the US-Mexico-Canada trade pact.
Read MoreGold futures rose on Friday but barely budged for the week as the strong gains in sharemarkets around the world undermined the appeal of safe havens such as gold and silver.
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