Record Trade Surplus In China As November Exports Soar
China’s exports surged in November, trade surplus hit a record high while imports again showed little growth.
Read MoreChina’s exports surged in November, trade surplus hit a record high while imports again showed little growth.
Read MoreThe Aussie market briefly hit fresh 9.5 month highs before fading back today. The ASX 200 still managed to extend its winning run to a fifth successive session as resources outperformed. Mining names benefitted from iron ore prices hitting the best levels since March 2013.
Read MoreCatch up on the full webinar with presentations from Osprey Medical Inc (ASX: OSP), Paygroup Limited (ASX: PYG), Australian Gold and Copper Limited (ASX:AGC) and Race Oncology Limited (ASX:RAC).
Read MoreThomas Rice, portfolio manager for the Perpetual Global Innovation Share Fund provides your weekly wrap of technology, innovation, and finance news.
Read MoreLocal shares have followed US markets higher with a decent lift to start the week. The rise in ore prices continues to drive big miners higher & helping the broader market improve.
Read MoreASX200 up 52 points (0.8%) to 6685. Afterpay (+1.5%); Reserve Bank governor Philip Lowe said the bank was “unlikely” to conclude that Afterpay and other BNPL firms would have to remove their no-surcharge rules, in a big win for the industry.
Read MoreJob growth was lower than expected in November but that result raised hopes that a new fiscal relief bill will be agreed. Energy, materials and industrials rose the most. The Dow Jones index closed higher by 249 points or 0.8%. The S&P 500 index rose by 0.9%. And the Nasdaq index rose by 87 points or 0.7%. Over the week the Dow rose 1.0%; S&P 500 rose 1.7%; and the Nasdaq rose by 2.2%.
Read MoreFor the week, Eurozone shares rose 0.2%, Japanese shares gained 0.4% and Chinese shares rose 1.7%. Australian shares were up half a percent. The slowest US jobs growth in six months and record COVID-19 infections and deaths still left the Dow up 1% for the week, the S&P 500 up 1.67%, and Nasdaq up more than 2.1%.
Read MoreThe US dollar fell to a 2-1/2-year low on Friday and the Aussie dollar remained 28-month highs after November’s jobs report for the US disappointed. Friday’s sharp rise in iron ore prices could see the A$ jump back towards 75 US cents off the back of a 7 year plus high for iron ore.
Read MoreWarren Buffett’s Berkshire Hathaway is looking at a $US1 billion-plus paper profit from its investment in a hot tech listing in September.
Read MoreThanks to another surge in iron ore prices on Friday the Aussie market should open the week with a strong 42 point gain later today.
Read MoreHere and offshore it looks like a quiet week lies ahead as the focus turns to the coming holiday break and the end of the year and unfortunately for the US, Europe, Japan, South Korea and other countries, the growing rate of infections and deaths from COVID-19.
Read MoreThe Australian market has extended its winning streak to five straight weeks thanks to gains from miners, energy stocks and banks as vaccine optimism continues to encourage.
Read MoreThe Australian sharemarket is extending its winning streak to four days thanks to improvements from banks, property stocks and energy companies.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreASX200 up 15 points (0.2%) to 6630. Premier Investments (-0.7%); AGM today. Said online sales for the first 18 weeks of FY21 increased by 70% over the same period of last year.
Read MoreWall Street put on the rose-coloured glasses on Thursday and ignored the worse day ever for COVID 19 infections and deaths across the US, weakening economic data and decided to focus on life after vaccines.
Read MoreWall Street remained excited last night over what could only be called a dubious move towards stimulus agreement, before a late sell-off. Dow up 85.
Read MoreThere are media reports that Pfizer cut rollout targets for its vaccine. Shares in Boeing rose 6% after budget airliner Ryan Air ordered an additional 75 of its 737 MAX jets. Shares in Tesla rose 4.3% on a broker upgrade. After being up 227 points, the Dow Jones index closed higher by 86 points or 0.3%. The S&P 500 index fell 0.1%. And the Nasdaq index rose 28 points or 0.2%.
Read MoreOil prices have firmed on reports that OPEC and Russia have agreed to a modest output increase from January of 500,000 barrels a day – but so far there’s no long term agreement on production cap policy for the rest of next year, so the market is setting itself up for another bout of instability.
Read MoreThe Australian sharemarket rose by 0.38% thanks mainly to huge gains for Fortescue Metals, Rio Tinto and BHP. Greater demand from China has helped push iron prices to near 7-year highs.
Read MoreThe Australian sharemarket is edging higher at lunch thanks to strong gains from mining and energy stocks.
Read MoreASX200 up 31 points (0.5%) to 6621. Qantas (-0.8%); Trading update. Lots of headlines; O/s flights to remain grounded until at least July. Comments still coming out…
Read MoreOvernight futures traders seem to be more optimistic about the market outlook than what we saw on Wall Street on Wednesday where a dose of COVID-19 reality appeared.
Read MoreUS Senate Majority Leader Mitch McConnell rejected a bipartisan proposal for a US$908 billion stimulus package. US President-elect Joe Biden said that he would not immediately remove Chinese tariffs. Salesforce (-8.5%) shares slid after analysts called its US$27.7 billion purchase of Slack Technologies (-2.6%) “expensive”.
Read MoreThe Aussie market has had a mixed reaction to today’s better than expected September Quarter GDP reading. As the economy exits its technical recession. The ASX 200 ended flat with gains for miners helping to lift the market from losses.
Read MoreAustralian consumers dragged the national economy from the deepest recession in 90 years in a burst of spending in the three months to September that more than offset any negative impact from the second Victoria lockdown.
Read MoreThe Aussie market faded to its session lows around lunch after the ABS released data showing Australia’s economy grew 3.3% in the Sept Qtr & has exited its first recession in three decades.
Read MoreASX200 up 8 points (0.1%) to 6596. Westpac (-0.2%); announced it will sell Westpac General Insurance to Allianz (for $725m) and enter into an exclusive 20 year agreement for the distribution of general insurance products to Westpac’s customers.
Read MoreThe ASX is heading for its second positive start in as many days after Wall Street rose strongly on the first day of December, with the S&P 500 and Nasdaq setting new highs.
Read MoreWhat a difference a day makes. Monday saw gold slide on a relaxation of fear in markets and oil rise on expectations of a postponement of a two million barrel a day rise in production by OPEC and its allies at a meeting Tuesday. 24 hours later, no deal, more talks Thursday, oil drops around 2% and gold goes for a scoot.
Read MoreStock markets have reversed Monday’s profit-taking to begin anew. Dow up 185.
Read MoreUS sharemarkets rose overnight, recovering from the softer tone of a day earlier, as hopes for US fiscal stimulus increased after a bipartisan group of US lawmakers proposed a US$908 billion Covid-19 relief bill.
Read MoreBuilding approvals continue to surprise on the upside – rising a seasonally adjusted 3.8% to a 20 year high in October from September against a market forecast for a 1% fall after September’s big 15.4% jump.
Read MoreThe Aussie market rose by 1% on Tuesday, snapping a 3-day losing streak thanks to gains across all sectors and close to 80% of stocks.
Read MoreThe Australian sharemarket is off to a strong start to a new month and season with almost all sectors lifting and the ASX 200 gaining 1.3%.
Read MoreA robust outlook for oil prices is emerging after a volatile and difficult 2020, as high levels of inventory are wound back and producers adjust to the absence of supply investment
Read MoreASX200 up 33 points (0.5%) to 6551. Santos (+0.7%); raised its annual production guidance. Westpac (-0.2%); accepts that it needs to work faster to address its shortcomings.
Read MoreThe Australian sharemarket opens December with a small loss pencilled in after Wall Street weakened on the final day of a record-breaking month.
Read MoreAfter the best month since the eighties, profit-taking kicked into gear here and on Wall Street. Dow down -271.
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