ASX closes 0.9% higher: Investors await US inflation report
The Australian sharemarket experienced a risk-on day, with the benchmark briefly climbing above 7900 points in a broad rally led by the big four banks.
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Woodside inks new supply deal with Taiwan’s CPC
Shares of Woodside Energy (ASX:WDS) have increased today following the announcement of a significant supply agreement with Taiwan’s CPC Corp, a major player in the petrochemicals industry.
Read MoreThe challenges of container shipping in the current global environment
Container shipping and the web of global transport services linked to it are entering the usual peak season for demand, but this year's scenario planning includes many questions about supply.
Read MoreUranium stocks surge following Kazakhstani tax hike
Uranium stocks are soaring on Thursday following an unexpected hike in uranium extraction taxes in Kazakhstan. This move is anticipated to curb future supply growth from the country, home to the world's largest producer, Kazatomprom.
Read MoreASX up 0.88% near noon: Wall Street records big gains
At 11:35am, the S&P/ASX 200 is 0.88 per cent higher at 7,885.40. The rally, fueled by gains in Wall Street's tech giants, saw local sectors like technology and real estate advance
Read MoreBP raises oil and gas demand forecasts
BP has increased its forecasts for oil and gas demand, signaling a slowdown in the transition to clean energy. In its annual outlook, the oil major highlighted that renewable power sources like wind and solar are not expanding quickly enough to meet the growing global energy demand.
Read MoreBig tech leads US markets to fresh highs
Big tech names surged higher leading the broader market to new record highs ahead of the highly anticipated inflation data due out tomorrow US time.
Read MoreChina’s inflation numbers fall short of expectations
China’s consumer price inflation rose by 0.2% in June from a year ago, missing expectations, while producer prices fell in line with forecasts, data from the National Bureau of Statistics showed on Wednesday.
Read MoreBooktopia faces bidding war as deadline nears
Booktopia (ASX:BKG), once a shining star on the ASX, now finds itself at the center of a fierce bidding war as potential buyers vie to rescue the beleaguered book retailer from administration.
Read MoreASX down 0.47% near noon: Materials down 1.11%
Australian shares opened lower following a previous day's rally, and at 11:30am, the S&P/ASX 200 is 0.47 per cent lower at 7,792.60.
Read MoreShort sellers pocket $10 billion in profits despite S&P 500 surge
During the second quarter of this year, short sellers capitalized on their strategy of betting against stocks, amassing a substantial $10 billion in paper profits despite the broader market's upward trajectory.
Read MoreChile’s government expects to surpass project target amid strong private sector interest
The Salar de Atacama in Chile contains some of the world's highest known concentrations of lithium and potassium.
Read MoreFed commentary leads market to new highs
The S&P 500 & Nasdaq both closed at new records following encouraging commentary from Federal Reserve Chairman, Jerome Powell.
Read MoreASX closes 0.9% higher: All sectors close higher
The Australian sharemarket saw a broad-based rally on Tuesday, driven by gains in US blue-chip tech stocks, pushing the S&P/ASX 200 Index up by 0.9% to 7829.7.
Read MoreASX up 0.8% near noon: S&P 500 hits a new record high
Australian shares opened higher, with the S&P/ASX 200 Index rising 0.7% to 7815.2, driven by a rally in blue-chip tech stocks that also pushed the S&P 500 to a new record high. On the ASX, communication services led gains, with Telstra up over 2% and REA Group up 1.1%, while tech stocks followed the Nasdaq's positive trend.
Read MoreNvidia & Apple push the Nasdaq to another record close
Markets continued their drive higher with two out of the three major indices closing at new record highs ahead of new inflation data and upcoming earnings numbers later this week.
Read MoreASX falls 0.8%: Materials falls as iron ore prices slump
The Australian sharemarket, particularly impacted by a commodities sell-off, saw significant declines on Monday, with the S&P/ASX 200 dropping 0.8% to 7763.2 points. This downturn was led by a 1.8% fall in mining stocks, driven by a sharp decline in iron ore prices to $107.90 per tonne amidst concerns over Chinese demand and oversupply. Major miners like BHP, Fortescue, and Rio Tinto mirrored these losses. Meanwhile, Rex Minerals surged 56.4% to 43¢ following news of a buyout deal, contrasting with broader market trends.
Read MoreASX down 0.36% near noon: Iron ore prices fall
At 11:35am, the S&P/ASX 200 is 0.36 per cent lower at 7,794.30, driven by a decline in iron ore prices.
Read MoreJobs report pushes US market to new record close
The broader market surged to new highs following the release of the much anticipated jobs numbers which pointed to a cooling labour market raising hopes the Fed will stick to its rate cut forecasts for later this calendar year.
Read MoreCoal market disruptions spark rally in ASX mining stocks
In the past week, disruptions at two significant coal mines have fuelled concerns about a shortage of supply just as demand for the commodity surges, triggering a rally in ASX-listed mining stocks.
Read MoreUS employment report anticipated to show hiring slowdown
The upcoming US employment report is projected to reveal a significant slowdown in hiring for June, coupled with a tapering off in wage growth.
Read MoreOil prices steady near two-month high
Oil prices remained stable near a two-month high, as conflicting market signals emerged, with weaker demand in Asia balancing out a significant drop in US crude stockpiles.
Read MoreASX down 0.05% near noon: Aus dollar reaches highest level since January
At 11:30am, the S&P/ASX 200 is 0.05 per cent lower at 7,827.60, due to declines in mining and property stocks, despite earlier gains in the week.
Read MoreLagarde stresses data-driven approach for future ECB rate decisions
The European Central Bank needs to see more robust evidence that inflation is steadily moving towards the 2 percent target before contemplating additional interest rate cuts, ECB President Christine Lagarde stated.
Read MoreEU stocks close higher as US closed for holiday
European markets closed higher as the US market was closed for the Independence Day Holiday and the UK headed to the polls.
Read MoreAustralia’s migration cutbacks
Australia’s plan to halve the number of net migrants entering the country may not be enough to curb still-rising inflation, economists say.
Read MoreSantos faces takeover rumours
Recent rumours swirling around Santos (ASX:STO) suggest a potential takeover bid by Middle Eastern giants Saudi Aramco and Abu Dhabi National Oil Co. However, market analysts remain sceptical about the likelihood of such a deal materializing.
Read MoreASX up 1.08% near noon: Materials surges over 2%
At 11:35am, the S&P/ASX 200 is 1.08 per cent higher at 7,823.40, buoyed by a strong performance in New York ahead of the July 4 holiday.
Read MoreMegaCap tech names push the broad index to new highs
Markets continued to march upwards in light trade on a shortened trading session ahead of the Independence Day holiday. Megacap Tech names dominated the tape and set the positive tone for the broader market.
Read MoreVirgin Australia adjusts travel agency bonuses amid industry-wide cost-cutting
Virgin Australia is restructuring its volume bonuses for travel agencies as part of a broader strategy to tighten costs within the airline industry. Despite the belt-tightening, sources indicate that some agencies could see an increase in their funds.
Read MoreOil prices hover near two-month high
Oil prices held firm near their highest levels in two months, driven by indications of a major reduction in US crude inventories.
Read MoreASX up 0.11% near noon: Aus retail sales grows 0.6%
In May, Australian retail trade surged by 0.6 percent, surpassing expectations with strong year-on-year growth of 1.7 percent, attributed partly to early end-of-financial year promotions.
Read MoreS&P 500 closes above 5,500 for the first time
All three major indices rallied and bond yields fell after Federal Reserve chairman Jerome Powell said the disinflationary path is intact, opening the door to a pivot to rate cuts later this year.
Read MoreASX closes 0.4% lower: Interest rate concerns loom
The ASX experienced its second consecutive losing session of the new financial year, with the S&P/ASX 200 closing 0.4% lower due to interest rate concerns.
Read MoreASX down 0.1% near noon: Energy is best performing sector
The ASX 200 is slightly down by 0.1% near midday, with losses in major banks like National Australia Bank and Commonwealth Bank offsetting gains in energy stocks due to stable oil prices amid concerns over Hurricane Beryl. The broader market remains subdued, contrasting with gains in New York and a rebound in French stocks following the latest parliamentary election results.
Read MoreTech names push Nasdaq to new record
US shares rose on Monday led by the Tech sector which pushed the Nasdaq to a new record ahead of this weeks 4th July holiday.
Read MoreUS corporate profits surge to near three-year high
US corporate profits are set to achieve their fastest growth rate in nearly three years, providing a substantial lift to the stock market as it approaches record levels in the latter half of the year.
Read MoreASX closes 0.2% lower: Coals stocks rebound
On Monday, the Australian sharemarket initially declined slightly with the S&P/ASX 200 Index closing down 0.2% at 7750.7 points, as seven sectors recorded losses.
Read MoreInflation concerns loom over Australia’s economic forecast
Higher-than-expected inflation will take at least 12 months to approach the Reserve Bank of Australia’s (RBA) target, raising doubts about Treasurer Jim Chalmers’ optimistic forecast and complicating prospects for interest rate relief before the next federal election.
Read MoreNvidia stock surges more than 150% in the first six months of 2024
Nvidia has emerged as a standout performer in the financial markets during the first half of 2024, with its stock soaring by an impressive 150%. This surge has notably outpaced the S&P 500 index, which saw a more modest 15% increase over the same period, according to a report by the Wall Street Journal.
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