Economics

At its meeting today, the Reserve Bank of Australia Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.

Oil prices edged up on Monday after OPEC+ announced it would delay a scheduled increase in oil output by another month, aiming to support prices amid recent declines.

Gold prices held steady on Monday as traders prepared for two major events that could sway the market — the US presidential election and the Federal Reserve’s interest rate decision later in the week.

Intel (NASDAQ: INTC) stock rose over 8% on Friday, following the company’s third-quarter earnings release. This is despite Intel reporting a US$16.6bn loss for the quarter.

What a huge two weeks with US Economic data and 278 of the 500 S&P500 stock reporting this week, while the US Presidential election and Fed Funds rate will be the focus next week.

Apple released its fiscal fourth-quarter 2024 results on 31 October, marking a 6% year-over-year revenue increase to US$94.9bn, which slightly exceeded analyst expectations of US$94.4bn.

Despite positive figures, Uber is currently down around 9.3% following its Q3 earnings announcement.

The European Commission has fined Teva Pharmaceuticals €462.6m for abusing its dominant market position by blocking competition to its multiple sclerosis drug, Copaxone.

Amazon.com reported third-quarter earnings after market close today. They have exceeded market expectations, driven by strong performances in the company's cloud computing and advertising divisions.

The Australian Bureau of Statistics released a range of economic updates today, highlighting shifts across building approvals, export prices, and retail spending for September 2024.

Microsoft released its Q1 FY25 financial results after market close today, reporting revenues of US$56.5bn and an earnings per share of US$2.99. These figures surpassed consensus projections, which estimated revenue at US$54.5bn and EPS at US$2.65.

Meta Platforms (Nasdaq: META) reported its Q3 2024 earnings after market close, showcasing a strong financial performance.

KKR and Energy Capital Partners (ECP) have committed to a US$50bn investment to meet the fast-growing needs of artificial intelligence (AI) and cloud computing.

Australia’s inflation has returned to the Reserve Bank of Australia’s (RBA) target range of 2-3% for the first time since March 2021, driven by a substantial drop in energy and fuel prices.

Spot gold is trading at a record high of US$2,769.61 per ounce (surpassing a previous record of US$2757.22, set on 23 October this year).

HSBC’s third-quarter results have exceeded expectations, propelling its shares to a six-year high.

BP's shares have dropped to their lowest level since 2022, after the company reported a sharp reduction in profit in its third quarter 2024 results.

Bitcoin has once again surged beyond $70,000, marking a comeback after months of volatility.

The Reserve Bank of Australia’s (RBA) 2024 Annual Report reflects a year of significant financial challenges and organisational shifts.

Crude oil futures have declined following Israeli airstrikes that did not target critical Iranian oil infrastructure.

Japanese stocks have rallied as the yen has dropped to a three-month low. The currency’s fall follows Sunday’s election, where Prime Minister Shigeru Ishiba’s ruling coalition lost its parliamentary majority, raising political and economic uncertainty.

Gold prices experienced notable fluctuations last week.

On Friday, German Finance Minister Christian Lindner issued a warning about the dangers of a potential trade war between the United States and the European Union.

On Friday, the Nasdaq Composite surged to an all-time high, ending a turbulent week with a strong rally led by tech giants.

Over the past year, the price of gold has experienced something unusual. It has reached record highs, seemingly disconnected from traditional influencers like interest rates, inflation, and the dollar.