Overnight: Record Growth
Wall Street shrugged off 33% GDP growth and tried to stage a comeback last night that didn’t convince. Dow up 139.
Read MoreWall Street shrugged off 33% GDP growth and tried to stage a comeback last night that didn’t convince. Dow up 139.
Read MoreInvestors were encouraged by better-than-forecast US economic data and optimism about big tech earnings. Shares of Apple (+3.7%), Amazon (+1.5%) and Alphabet (+3.1%) rose before their results. Facebook (+4.9%) and Twitter (+8%) shares jumped after Pinterest (+26.9%) forecast a rebound in ad spending.
Read MoreAs expected the US economy grew in the third quarter at its fastest pace in postwar history as activity bounced back from coronavirus lockdowns. GDP rose 7.4% from the June quarter or an annual rate of 33.1%.
Read MoreThe Aussie market fell by 1.6% on Thursday to a fresh three-week low as participants remain on edge ahead of next week’s US election and new lockdowns in Europe.
Read MoreThe Australian sharemarket is sliding by 1.2% as concerns of a spike in coronavirus cases offshore grows. All sectors are falling sharply.
Read MoreThe ASX’s 6.7 point pop on Wednesday now looks horribly out of touch as global markets spent the rest of yesterday slip-sliding lower amid a growing focus on the damage the new waves of COVID-19 are doing to economies.
Read MoreGermany and France will re-enter lockdowns and Wall Street is fearful the US will be next. Dow down -943.
Read MoreBig tech companies – Apple (-4.6%), Alphabet (- 5.5%), Amazon (-3.8%) and Facebook (-5.5%) – which are due to report results on Thursday, weighed heavily on indexes. Microsoft shares slid 5.1% after a disappointing forecast.
Read MoreAbsolutely nothing in the September quarter consumer price index for markets, although the core or underlying inflation rate remains too low for comfort for the Reserve Bank and increases the chances of a rate cut next Tuesday and other easing measures.
Read MoreThe Australian sharemarket bounced off this morning’s three-week low and put an end to a four-day losing streak. Banks weighed ahead of profit results from four majors over the next week.
Read MoreThe Australian sharemarket has crept into positive territory at lunch, with the ASX 200 up by 0.1%. Coles, Super Retail Group and Afterpay are all higher following quarterly updates this morning.
Read MoreIt’s lockdown summer all over again in the US. Dow down -222.
Read MoreSentiment was dented by the rising number of new COVID-19 cases and an inability by lawmakers to push forward on new fiscal stimulus.
Read MoreLocal shares fell to three week lows as the ASX 200 followed sharp declines on global markets over a surge in global daily COVID-19 cases.
Read MoreThe Aussie market is following weakness on global markets as the ASX 200 extends its losses for a fourth session. The index is suffering its worst decline in 3 weeks on broad losses.
Read MoreThe continuing growth in demand from gold Exchange Trade Products helped gold reach record levels in the three months to September, offsetting a sharp slide in consumption and higher stocks from rising scrap availability and weakening demand from central banks.
Read MoreAs Victoria emerges from its lockdown, the situation is worsening in Europe and the US as second and now third waves of COVID-19 overwhelm health systems, hospitals, and the US elections.
Read MoreFinally the ballooning case-counts in the US and Europe have hit home on Wall Street. Dow down -650.
Read MoreThere are concerns that soaring coronavirus cases will weaken the US economy. Sentiment also took a hit after White House economic director Larry Kudlow said that President Donald Trump can’t accept parts of the Democrats’ proposed stimulus bill.
Read MoreThe Aussie market failed to build on early momentum with the ASX 200 sliding throughout afternoon trade to close weaker by 11 points, down for a third consecutive session. There was a big winner in amongst the declines with Coca-Cola Amatil (CCL) surging 16% on a proposed $9.3 billion takeover offer.
Read MoreThe pace of all paper multi-billion dollar mergers in the struggling North American oil and gas sectors continues to accelerate with three multi-billion dollar share swaps announced in the past week for a total of five since July.
Read MoreThe Aussie market has enjoyed a solid start to the week with the ASX 200 bouncing back from successive losses to finish last week. Tech & consumer staples are leading a rather broad improvement.
Read MoreIn choppy trade investors continued to monitor developments in talks over a stimulus package. Shares in Intel lost 10% after reporting a drop in margins. And shares in American Express fell 3.6% after third-quarter profit missed estimates.
Read MoreCatch up on the full webinar with presentations from Douugh Limited (ASX: DOU), Maximus Resources (ASX: MXR), Legend Mining (ASX: LEG) and Terracom Limited (ASX: TER).
Read MoreA massive week ahead: COVID-19’s global rise continues at record pace, Australia’s September quarter inflation report, the Queensland election, China’s new five-year plan, America’s earnings deluge, the last week of the November 3 election campaign, US third-quarter GDP, and central bank meetings in Japan and Europe.
Read MoreOil fell on Friday as exports rose from Libya, creating more uncertainty about supply and demand as doubt continued that the US will settle on another stimulus package before the November 3 election.
Read MoreFriday morning just after 7am Australian time looms as the most important time for markets in quite a while. That’s when megatechs Apple, Amazon, Alphabet, eBay, Twitter, and Facebook are due to release their September quarterly reports.
Read MoreThe ASX will start with a small gain this morning after Wall Street faded to a close on Friday.
Read MoreThe Australian sharemarket eased by just 0.1% on Friday, with gains from banks offset by losses from major mining stocks.
Read MoreThe Australian sharemarket is down 0.3% at lunch as the final US Presidential Debate kicks off 11 days out from the American election.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreCorporate Connect analyst Lawrence Grech presents the ShareCafe Chart of the Week. China’s coal industry policy will likely see periodic tightening and loosening of import controls. Just like cyclones, fires, and the odd-GFC – producers and investors just need to adapt to it.
Read MoreUS House speaker Nancy Pelosi said a deal on new coronavirus aid was “just about there”, despite continued opposition from the Republican-controlled Senate. Shares of JPMorgan Chase gained 3.5% as the 10-year US Treasury yield hit 4-month highs on stimulus hopes. AT&T shares rallied 5.8% after the phone giant added more wireless subscribers than analysts estimated. Tesla shares climbed 0.8% after reporting its fifth consecutive quarterly profit on record revenue of US$8.8 billion. Coca-Cola shares gained 1.4% as it beat quarterly results expectations. Dow shares rose 0.6% after its solid profit result. Chipotle Mexican Grill shares fell 4.9% as it posted a drop in quarterly profit. The Dow Jones index rose by 153 points or 0.5%. The S&P500 index also gained 0.5% and the Nasdaq index was up by 21 points or 0.2%.
Read MoreSo says Nancy Pelosi, re stimulus agreement. Dow up 152.
Read MoreThe Aussie market eased by just 0.3% on Thursday. Earlier, the ASX 200 was down five times as much after the FBI warned that Iran and Russia attempted to interfere with the US election.
Read MoreThe Aussie market is down 1.2%, with all sectors in the red as the self-imposed deadline for a US coronavirus support package passes while news of Iran & Russia interfering in the US election pushed stocks even lower.
Read MoreInvestors continued to assess progress on a stimulus deal with ongoing talks between US House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin.
Read MoreThe Democrats and White House now apparently have until the end of the week to agree on a deal. Dow up 113.
Read MoreNo trading update from The Reject Shop at its annual meeting yesterday, but a heads up for shareholders that the company plans to renegotiate a slew of store leases.
Read MoreThe Aussie market rose by just 0.1% on Wednesday as closely watched stimulus talks continue in the US. The ASX 200 closed below 6,200pts.
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