Mixed Stories For China’s Iron Ore And Coal Imports
China’s voracious appetite for iron ore continued in September, even though Australian exports fell for the month.
Read MoreChina’s voracious appetite for iron ore continued in September, even though Australian exports fell for the month.
Read MoreBuried in the Reserve Bank’s latest Financial Stability Review is the best news the country (and the governments) have had since the COVID-19 pandemic started ravaging the economy in February – Australia’s banks are healthy and have more than enough capital to support the economy during the slowdown without getting into trouble.
Read MoreThe Aussie market surged by 1%, extended its winning streak to seven days and hit a seven-month high. Banks rose strongly, Telstra surged after re-iterating earnings, while coal miners fell after Beijing’s comments.
Read MoreWe continue to unearth small-cap companies as part of our Hidden Gems webinar series. Catch up on this edition with presentations from Volpara Health, Galan Resources, Amaero Engineering and Family Zone.
Read MoreTomorrow night is Amazon’s Prime Day, Apples 5G phone launch and the start of earnings season. Wall Street is excited. Dow up 250.
Read MoreThere was a rally in some of the world’s largest technology companies. Shares of Amazon.com (+4.8%) surged ahead of its Prime Day shopping event on Tuesday. Apple (+6.4%) is expected to unveil its first 5G iPhone also on Tuesday.
Read MoreGlobal stocks scaled five-week highs on Monday on hopes that more government stimulus was coming and the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend.
Read MoreThe Australian sharemarket rose by 0.5% on Monday, extending the ASX 200’s winning streak to six days and follows the best weekly advance in six months.
Read MoreThe Australian sharemarket is barely hanging onto gains on Monday, following a 5.4% surge last week (best week since mid-April). Tech stocks and gold miners are helping this morning.
Read MoreThere were continued hopes for a new fiscal stimulus package. Advanced Micro Devices said it was in talks to buy chipmaker Xilinx in a deal valued at more than $30 billion.
Read MoreThe path of the world economy out of the coronavirus-driven recession will again be in focus this week when the International Monetary Fund releases an update to its 2020 World Economic Outlook.
Read MoreSo what will President Trump do now – the Chinese are not, as he claims, using the value of their currency to undermine the US dollar. The reverse is happening – the Chinese government is allowing the yuan to rise and has been allowing the appreciation to happen for more than a month.
Read MoreActivity in US oil-producing regions is slowly rebounding. Services group Baker Hughes on Friday, reported a third straight weekly increase in the number of oil rigs in active use – a rise of 4 to 193. Meanwhile, Comex gold futures ended at a three-week high on Friday above $US1,900 an ounce as the US dollar lost ground.
Read MoreThe ASX had a strong 5.4% gain last week off the back of the budget billions to be spent supporting jobs and companies. That was the largest gain of all major markets last week. US shares gained 3.8% over the week, Eurozone shares were up 2.8%, Japanese shares rose 2.6% and Chinese shares gained 2%.
Read MoreThe health of the US third-quarter reporting season will get a first up checkup this week with the country’s biggest banks releasing their September 30 results. While initial estimates for the quarter are for another slide in earnings for the S&P 500, the major banks are expected to do better than many other sectors.
Read MoreThe Aussie sharemarket avoided a decline this week, with the ASX 200 surging by 5.4% in just five days. While every sector rose this week, energy stocks, banks and technology companies stood out.
Read MoreProviding more stimulus & holding off on budget repair are the right thing to do. But it will be a long hard slog to get the deficit back down and stabilise public debt.
Read MoreMonday is Columbus Day in the US, which is a holiday of sorts. Banks and the bond market will be closed but the stock market will be open, albeit volumes are typically light.
Read MoreThe ASX 200 is down 0.11 percent to 6,095.1. This makes it the first decline in five days, with the market still up 5.2 percent this week.
Read MorePelosi has again insisted any airline rescue deal can only be part of a wider comprehensive package, but Wall Street is eyeing a different outcome. Dow up 122.
Read MoreThere were hopes for more fiscal stimulus. US President Trump said some discussions were ongoing with Democrats about boosting support for US airlines and providing Americans with $1,200 stimulus checks.
Read MoreThe ASX is looking at a modest rise of around 12 points this morning after overnight trading on the ASX 24 futures platform closed with a modest gain.
Read MoreThe ASX 200 closed 65.8pts or 1.09% higher to 6102. Gains from healthcare stocks, miners, tech & financials drove the gains.
Read MoreThe Australian sharemarket is up for a fourth day and has hit a fresh one-month high thanks to a strong lead from Wall Street and broad gains across the local Bourse.
Read MoreTrump unleashed a Twitter storm last night implying he’s ready to approve a range of targeted individual stimulus packages. Dow up 530.
Read MoreUS President Trump encouraged Congress to pass a series of standalone fiscal stimulus bills including support for the airlines. The Dow Jones airlines index rose by 3.5%. Investors digested minutes from the last Federal Reserve meeting. And investors await today’s Vice Presidential debate. The Dow Jones index ended higher by 531 points or 1.9%. The S&P500 index lifted 1.7% and the Nasdaq index gained 210 points or 1.9%.
Read MoreWall Street rose on Wednesday, reversing Tuesday’s late slide on suggestions President Trump had changed course on the question of a new stimulus deal before the November 3 elections.
Read MoreThe labour market continues its slow gains from the depths of the recession and even locked down Victoria is starting to improve. On Wednesday the Australian Bureau of Statistics (ABS) revealed that payroll jobs rose by 0.3% over the two weeks to September 19 compared with a 0.5% contraction in the prior fortnight.
Read MoreIf the 2020-21 budget is, as the Morrison government says it is, all about jobs, what are the chances of the ambitious targets being met? Well, a bit rubbery at the moment and you only have to look at our most recent performance in the area to get an understanding of how tough the next couple of years are going to be in repairing the broken jobs market.
Read MoreThe ASX 200 index closed towards the best levels of the day, rallying 7pts or 1.2% to 6,036.
Read MoreShares of Amazon.com, Google parent Alphabet, Facebook, and Apple fell Tuesday as a report emerged that a US House subcommittee that has investigated anticompetitive business practices for more than a year would recommend splitting them up and limiting the scope of their future acquisitions.
Read MoreThe Australian sharemarket is improving for a third day despite President Trump tweeting his intention to halt stimulus negotiations until after the November election.
Read MoreAustralia has announced its biggest stimulus-driven deficit in history, while Trump has shut down any further stimulus negotiations in the US. Dow down -375.
Read MoreUS sharemarkets fell in afternoon trade after US President Trump stopped talks on a fiscal stimulus package. The Dow Jones index ended lower by 376 points or 1.3%. The S&P500 index lost 1.4% and the Nasdaq index fell by 178 points or 1.6%.
Read MoreNo rate cut from the Reserve Bank yesterday – thwarting a growing list of economists, analysts, and others who thought there would be one. In fact, two out of three economists in various polls thought there would be a rate cut on the eve of the 2020-21 budget.
Read MoreWall Street fell sharply in the final hour of trading after President Trump ended talks with the Democrats on a new stimulus bill.
Read MoreAlmost all companies, bar the mining giants or the likes of CSL will be able to immediately write off the full value of eligible assets purchased. The initiative targets small, medium, and larger businesses with a turnover of up to $5 billion until June 2022.
Read MoreThe budget is clearly a pro-business, pro employment document, containing $98 billion in new spending, including $50 million in tax relief for business and low-and-middle-income earners.
Read MoreThe Australian sharemarket rose by 0.35% on Tuesday ahead of tonight’s Federal Budget, some uncertainty remaining about President Trump’s condition and a massive lift for equities on Monday.
Read MoreThe Australian sharemarket is easing at lunch as it consolidates on yesterday’s outsized gains.
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