Markets close mixed following Fed rate commentary
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US markets finished close to the flatline following Federal Reserve Chair Jerome Powell comments that interest rates may need to stay elevated.
Read MoreUS markets finished close to the flatline following Federal Reserve Chair Jerome Powell comments that interest rates may need to stay elevated.
Read MoreAustralian shares experienced significant losses on Tuesday, following a decline on Wall Street fueled by strong US retail sales data, dampening expectations of interest rate cuts by the Federal Reserve and the Reserve Bank.
Read MoreAustralian shares declined sharply following stronger-than-expected US retail sales data, dampening hopes for interest rate cuts and triggering a 1.26 per cent drop to the S&P/ASX 200, marking the third consecutive session of losses.
Read MoreStocks erased early gains to finish well in the red after much stronger than expected retail sales cast further uncertainty around the likelihood and timing of rate cuts. Continued concerns around possible Israeli retaliation for Iran’s weekend attack also weighed heavily on markets.
Read MoreConcerns have risen after the Iranian retaliation against Israel and weaker than expected bank earnings overshadowed US markets on Friday.
Read MoreAustralian shares slipped in the final session of the week as US Federal Reserve officials emphasised the need for patience in addressing global inflation concerns. At 11:30am, the S&P/ASX 200 is 0.27 per cent lower at 7,792.50, with most sectors trending downwards, particularly Energy.
Read MoreTech stocks led the market back into positive territory after the previous sessions inflation led sell off after the March PPI number came in below estimates providing a positive data point for inflation concerns.
Read MoreShares rebounded on Thursday despite losses in technology and property sectors following higher-than-expected US inflation data, which led to a 0.4% decline in the S&P/ASX 200 index.
Read MoreAt 11:30am, the S&P/ASX 200 is 0.86 per cent lower at 7,781.00, as investors sold off interest rate-sensitive sectors such as property, tech, and banking stocks due to the postponement of anticipated US interest rate cuts until November.
Read MoreHotter than expected March inflation data triggered a wave of selling in US markets with the 10 year Treasury yield soaring back above 4.5 per cent.
Read MoreIn a recent development, Fitch Ratings has opted to revise the outlook on China's long-term foreign debt from stable to negative. This move comes as Fitch cites escalating concerns regarding the country's public finance prospects amid a steady rise in debt levels.
Read MoreOn Wednesday, the Australian sharemarket saw a 0.3% increase in the benchmark S&P/ASX 200 Index, reaching 7848.5 points, predominantly driven by a surge in mining stocks attributed to optimistic forecasts regarding iron ore consumption.
Read MoreAustralian shares opened higher, following a late rebound on Wall Street and a decrease in US Treasury yields ahead of the release of key US inflation data.
Read MoreInvestors remained on the sidelines ahead of the key March CPI data due out Wednesday US time (tonight local time).
Read MoreThe Australian sharemarket closed higher on Tuesday, buoyed by a 0.5% gain in the benchmark S&P/ASX index to 7824.2 points, primarily driven by a 1.5% surge in the materials sector, amidst speculation of increased iron ore demand from China.
Read MoreThe March NAB Business survey indicated that business conditions and confidence remained relatively stable, with positive trends observed in the retail and construction sectors despite ongoing challenges, particularly in rate-exposed industries.
Read MoreBitcoin surged past the $71,000 mark during Asian trading hours on Monday, marking its highest point since April 1. The rally comes as anticipation builds ahead of the much-anticipated reward halving expected to take place on April 20. This surge has not only propelled Bitcoin but also bolstered bets within the Ordinal and BRC-20 ecosystem.
Read MoreMarkets finished the day essentially flat as investors remain focused on CPI due out later this week.
Read MoreThe Australian sharemarket closed slightly higher on Monday, with the S&P/ASX gaining 0.2 per cent to 7789.1 points, despite a tumultuous session for several ASX 200 members.
Read MoreThe ASX is advancing in the initial session of the week, primarily driven by the strength of technology stocks, following Friday's tech-driven surge on Wall Street.
Read MoreUS stocks bounced back in Friday trading ignoring a hotter than expected payrolls print and upward pressure on bond yields.
Read MorePainChek Limited (ASX:PCK) CEO Philip Daffas provides an overview of the company, discussing its recent agreement with Nourish Care to expand into the UK market.
Read MoreThe Australian sharemarket ended Monday's session almost unchanged, with the S&P/ASX 200 closing marginally higher by 0.07 per cent at 7675.8 points, driven by late-session recovery but still witnessing losses in the real estate sector due to caution surrounding the Reserve Bank of Australia's upcoming decisions.
Read MoreThe Department of Energy (DOE) has unveiled a significant investment of $750 million in research and development aimed at bolstering "clean" hydrogen technology. This initiative, funded under the bipartisan infrastructure law of 2021, is poised to revolutionise the landscape of hydrogen fuel production, promising an annual increase of 1.3 million metric tons in clean hydrogen fuel.
Read MoreThe Reserve Bank of Australia commenced its two-day meeting, expected to maintain current interest rates, although markets are pricing in a potential rate cut in September despite signals from RBA governor Michele Bullock and her predecessor, Philip Lowe, suggesting the possibility of further rate increases.
Read MoreA snapshot of the stocks on the move, featuring dorsaVi (ASX:DVL), Celsius Resources (ASX:CLA) and Metarock Group (ASX:MYE).
Read MoreThe S&P 500 fell on Friday and notched its second-straight weekly loss, with technology stocks under pressure as inflation concerns remain front and centre ahead of the Federal Reserve’s policy meeting next week.
Read MoreAustralian shares declined by 1.1% early in the trading session, mirroring losses in New York, as concerns over US inflation data suggested a cautious approach by the Federal Reserve towards rate cuts.
Read MoreThe Dow Jones Industrial Average fell Thursday and snapped a 3-day win streak after the release of hotter-than-expected U.S. inflation data sent Treasury yields higher, while Nvidia shares were under pressure.
Read MoreOn Thursday, the Australian sharemarket slightly declined by 0.2 percent, driven primarily by a downturn in the financial sector, particularly among the major banks, offsetting gains in the mining sector sparked by a rally in copper prices following potential production cuts by Chinese smelters.
Read MoreAustralian shares opened lower with a 0.2% decline in the S&P/ASX 200, attributed to a 1.1% drop in financials, driven by downgrades from Macquarie on the big four banks, while the materials sector rose by 1.5% due to rebounds in iron ore miners Rio Tinto, BHP, and Fortescue, following three-month lows earlier this week.
Read MoreDelve into the cutting-edge realm of regenerative medicine with Kilian Kelly, CEO of Cynata Therapeutics. Learn how their stem cell innovations are shaping the future of healthcare.
Read MoreOn Wednesday, the S&P 500 pulled back from a record reached in the previous session, as Nvidia cooled off from its red-hot rally.
Read MoreOil prices experienced a notable surge in response to two significant developments: a decline in US crude stockpiles and a drone attack on a major Russian refinery.
Read MoreShares rose by 0.2 percent as investors monitored US inflation, interpreting it as not hindering the Federal Reserve's potential interest rate cut by mid-2024.
Read MoreOil and gas tycoon Bryan Sheffield has significantly expanded his investment in the Australian gas sector, elevating his stake in the emerging gas player Empire Energy (ASX:EEG) to over 5% overnight.
Read MoreThe S&P/ASX 200 opened with a 0.2% increase, driven by gains in retail and healthcare sectors despite declines in energy and resources.
Read MoreStocks jumped Tuesday after fresh U.S. inflation data was about in line with expectations, clearing the way for investors to resume buying high-flying tech names such as Nvidia and Meta Platforms.
Read MoreRecent data analysis from the Australian Securities and Investments Commission (ASIC) sheds light on significant short squeeze activity that unfolded on the ASX in late February. Hedge funds made substantial adjustments to their positions, leading to the covering of nearly $1 billion worth of shorted shares and reshuffling their bets towards prominent ASX-listed companies.
Read MoreAustralian shares started trading slightly higher on Tuesday, driven by gains in banking stocks following modest movements in New York, with investors eyeing the US February CPI report for insights into future Federal Reserve interest rate decisions.
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