Economics

Last week marked a potential high point for BYD, the world's largest producer of electrified vehicles, both battery and plug-in EVs, which may also signify a peak for the global EV and lithium industries.

Search parties returned on Friday night from another unsuccessful day's search for the market bears who had spent all of October pushing bond yields higher, driving down shares and commodities, and leaving everyone else fearful of a still-too-high US dollar.

Data out last week has confirmed that US oil production continues to edge higher to a new all time high in August, despite falling rig numbers.

Australian interest rates are set to dominate the financial markets, overshadowing offshore events. The Wall Street-driven rebound this week could prompt unfavorable comparisons if the Reserve Bank raises rates on Tuesday.

Once again, a quarterly report from Warren Buffett's Berkshire Hathaway has left more questions than answers for markets to ponder. Has another quarter of concerted share sales been an accurate reflection of what he thinks of the current value of equities, given his continued investment in bonds and cash? Or have he and his Berkshire managers misjudged the situation amidst the sudden change of heart by investors in the wake of the Federal Reserve's monetary policy stance and the surge in share markets late last week?

Altech Batteries Limited (ASX:ATC and FRA:A3Y), in collaboration with lead engineering company Leadec and joint venture partner Fraunhofer, has successfully boosted the output capacity of its CERENERGY® battery project from 100 MWh to an impressive 120 MWh per annum, marking a significant 20% increase.

Apple's revenue fell for the fourth consecutive quarter in the three months ending in September, failing to reassure investors about the stability of the so-called Magnificent Seven as dependable market growth supports.

Will the figures whack or boost the bond market rally that erupted in the wake of what was a not unexpected outcome of the second-to-last Fed meeting of the year on Wednesday afternoon?

Iron ore prices have surged to their highest levels in over five weeks, and analysts at Citi suggest that the rally could continue, potentially pushing the steel-making commodity to $US130 per tonne by the end of the year.

Panama City, Panama – The Panama Canal, a vital artery for global trade, is set to face significant cutbacks in the number of ships allowed to cross its historic waters due to an unprecedented drought caused by climate change.

The volatile building approvals data from the Australian Bureau of Statistics worked its now-familiar magic in September, revealing a fall of nearly 5%, partly reversing the solid gain in August.

Unlike its US rivals such as GM and Ford, Toyota believes in the necessity of transitioning to electric vehicles. Ford and GM have begun hedging their bets on the EV transition due to the higher costs resulting from recent multi-year wage negotiations with the United Auto Workers Union. They argue that the early adopters have already purchased EVs at the high prices they offer, making further EV sales challenging.

As expected, the Federal Reserve in the US held its key Federal Funds Rate at a 22-year high on Wednesday, with no rate rise in sight.

According to the latest data from the World Gold Council (WGC), central banks, led by China, reduced their gold purchases in the three months to September but appear to be on track for another near-record performance in 2023.

In October, some markets experienced positive gains, but the story was quite different for key commodities, including major ones. Oil and copper faced harsh realities, and despite gold briefly surpassing $2,000 per ounce, it quickly retreated.

IFS will lead a panel discussion at the International Mining and Resources Conference, focusing on harnessing cutting-edge technology to transform mining operations and achieve sustainability and ESG targets, especially achieving Net-Zero Emissions.

Australia has an opportunity to contribute to the growing demand for critical minerals by strengthening global supply chains and increasing collaboration at a strategic national level.

A week ago, Standard Chartered Bank revealed a slide in quarterly earnings due to write-downs in the value of its Chinese property and banking investments, amounting to nearly $1 billion. Yesterday, its UK-based rival, HSBC, reported a massive 235% surge in earnings for the September quarter, despite a half-billion-dollar write-down on its Chinese property dealings.

The $18.7 billion Canadian-US bid for Origin Energy appears to be in jeopardy and may require a higher offer price, as Origin's largest shareholder, AustralianSuper, has rejected the current deal.

The pace of activity across China's vast economy unexpectedly slowed last month. Manufacturing slid into contraction, services produced an unexpectedly low result, and the overall measure showed the lowest rate of expansion in 11 months.

Some analysts considered the unexpected 0.9% increase in Australian retail sales in September as an example of a 'hot' statistic, indicating that consumers had reawakened after a winter lull.

After a four-month hiatus, Berkshire Hathaway has re-entered the market by acquiring over 4 million shares of Occidental Petroleum in the past week.

Even though the economy is booming and job growth continues, inflation is slowing, leading the US Federal Reserve to refrain from raising interest rates this week.

Will Labor learn from the Voice and reconsider their anti nuclear stance?

Two of the three most-followed global share market indices have now stumbled into correction territory after the S&P 500 followed the Nasdaq into a 10% plus decline on Friday.

The US third-quarter earnings turned more positive last week, and with another significant week ahead, dominated by Apple, there’s a good chance the improving trend will continue.

This week, up until Wednesday afternoon, US time, the focus is on the Federal Reserve (Fed) and the US job market, as the end-of-month/start-of-month data crunch begins for late October and early November. However, the escalated fighting in Gaza poses a constant threat to market stability and millions of lives, causing fluctuations in oil and gold prices, as well as shares and bond rates, especially in the US.

The stepped-up fighting in Gaza is likely to trigger more anxiety in commodity markets this week, especially after Israel's broader attack began today.

In the third quarter, the US economy experienced stronger growth than expected, with an annual increase of 4.9%, marking the best performance in nearly two years. This surprising development was attributed to robust consumer spending despite higher interest rates, persistent inflation pressures, and various domestic and global challenges.

Pan-Asian bank Standard Chartered has revealed significant financial damage due to exposure to Chinese banks and the slumping property sector. On Thursday, the London-based Asian operating bank witnessed a 17% collapse in its shares on the London Stock Exchange, prompting a trading limit to be imposed. This drop followed the announcement of a nearly $US1 billion (almost $A1.6 billion) loss stemming from its exposure to China's real estate and banking sectors in the September quarter.

In the third quarter, US economic growth exceeded expectations, with a 4.9% annual rise, marking the strongest performance in nearly two years.

A recently resolved strike at one of Newmont's major mines has led to a reduction in its 2023 output guidance, impacting earnings, just as it prepares to merge with Newcrest Mining on November 6.

Now, it's down to Apple next Thursday after Amazon’s solid third-quarter numbers failed to set its share price on fire, leaving the Nasdaq poised for another frustrating session on Friday to end a down week.

Nasdaq slid into correction territory, leaving Wall Street in uncertainty. Meta Platforms may have initially reported stronger-than-expected quarterly results on Wednesday, but by the end of the extended trading session, a 4% gain had dwindled to just 2.6%. Despite its robust quarterly performance catching the attention of traders and analysts, the after-hours bounce couldn't compensate for the 4% decline during regular trading hours.