Overnight: One Day Wonder
Wall Street’s excitement faded last night after a report questioning the lack of data provided by Moderna with regard its vaccine success hit the wires late in the session. Dow down -390.
Read MoreWall Street’s excitement faded last night after a report questioning the lack of data provided by Moderna with regard its vaccine success hit the wires late in the session. Dow down -390.
Read MoreThe ASX is heading for a crunch this morning after Wall Street suffered a late slide that wiped out early gains after a report cast doubt on the big news from Monday of an interesting coronavirus vaccine trial.
Read MoreThe Aussie market has lifted for a third consecutive session as market optimism increases on COVID-19 vaccine hopes. The ASX 200 jumped as much as 2.6% before settling 99 points or 1.8% higher to 5,559.5.
Read MoreLocal shares followed their northern hemisphere counterparts higher on Tuesday as hopes for a COVID-19 vaccine energised market optimists. Energy names led the gains after oil prices vaulted higher overnight, banks names joined the upswing, having been laggards in the recent recovery.
Read MoreUS sharemarkets soared on Monday. Drugmaker Moderna’s shares rallied by 20% after the company reported “positive” phase one results for a potential COVID-19 vaccine.
Read MoreWall Street surged last night as the Fed reiterated its support, rolling state re-openings continue and one US biotech reported encouraging early vaccine test results. Dow up 911.
Read MoreIt should be a big day on the ASX and other markets across the region today after Wall Street staged a huge surge on Monday on news of a promising COVID-19 treatment and upbeat sentiment about the pace of re-openings across the country and globally.
Read MoreThe Australian sharemarket jumped by 1% on Monday thanks to strong gains from energy and mining stocks. Banks weighed heavily on our market with Macquarie Group (MQG) slumping by almost 3% as it traded ex-dividend.
Read MoreJapan has joined Italy and France in recession as growth in the world’s third-largest economy fell an annualised 3.4% in the March quarter.
Read MoreLocal shares have posted solid gains in early trade on Monday lead higher by the big miners and Energy names after prices for the underlying prices rose in recent days. Over the last week iron ore rose by US$4.80 or 5.4%, The US Nymex price lifted by 19% last week.
Read MoreThe Trump Administration moved to block global chip supplies to blacklisted telecoms equipment company Huawei Technologies. At the close of trade, the Dow Jones index was up by 60 points or 0.3%.
Read MoreBefore it exited its surprise airline investments in April with multi-million dollar losses, Warren Buffett’s Berkshire Hathaway was cleaning up of its huge investment portfolio, according to the quarterly 14-F filing with the US Securities and Exchange Commission.
Read MoreA massive week for the US retail sector ahead with most majors – and a few middle rankers – due to report their March quarter figures. Judging by the retail sales data for March – a slide of 8.3% – the reports won’t be healthy – except for giants like Target and especially Walmart.
Read MoreFor the week US shares fell 2.3%, Eurozone shares fell 4.3%, Japanese shares lost 0.7% and Chinese shares fell 1.3%. Australian shares were hit too with concerns about trade tensions with China and worries about the banks but ended up 0.3% for the week thanks to Friday’s strong 1.4% rise.
Read MoreWhile markets will again remain focussed more evidence that the number of new COVID-19 cases is slowing and progress in easing lockdowns, the costs of those measures will continue to dominate headlines.
Read MoreThe local sharemarket saw the biggest gain of the week on Friday with the ASX 200 lifting 76 points or 1.4% to 5,404 as investors continue to weigh up coronavirus related headlines both positive and negative. Today miners led improvements.
Read MoreAs the outlook for earnings has significantly deteriorated and companies conservatively manage balance sheets, the outlook for dividends has been materially impacted. Since the middle of February, over 30% of companies in the ASX200 have deferred, cancelled, suspended, or revised dividends.
Read MoreThis week I am here to push forward the view that this resurgence will evolve into one of the biggest bubbles in history. It is important that investors appreciate the changing dynamics and put aside the media headlines, employment stats and other negative data and understand the financial market consequences (not economic) that will result.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreThese social, political, and economic changes can be grouped into four categories; new, accelerated, busted, and possible trends.
Read MoreAt the close of trade, the Dow Jones index was up by 377 points or 1.6%. The S&P500 index was higher by 1.2% and the Nasdaq index rose by 80 points or 0.9%.
Read MoreOne theory stands out as to why the Dow turned a big loss into a big gain last night, closing up 377.
Read MoreDespite almost three million more Americans filing for unemployment benefits for the first time in the past week, Wall Street surged in late trading, turning a 400 point slide into a 377 point gain at the close, a move that will see the ASX open higher later this morning.
Read MoreThe Australian sharemarket slumped by 1.7% on Thursday, with Australia-China tensions and significant Aussie job losses keeping markets on edge.
Read MoreLocal shares opened weaker, down 79 points, following a soft lead from Wall Street.
Read MoreEnergy fell 4.4% in response to a lower oil price. There was caution ahead of an expected White House announcement on the US-China trade deal. At the close of trade, the Dow Jones index was down by 517 points or 2.2%.
Read MoreComments from the Fed chair last night only served to heighten growing anxiety over the US economic outlook. Dow down -516.
Read MoreMarkets have received a timely reminder from Federal Reserve Chairman Jerome Powell that the US economy will need more stimulus if its to avoid being stuck in a long, slow recession.
Read MoreIt was quite a turnaround for the Australian sharemarket, with the ASX 200 finishing up 0.35% despite being down as much as 2% this morning. Banks and miners bounced back strongly.
Read MoreLocal shares fell sharply on the open down 100 points or 2% but has since recovered a portion of those losses at lunch.
Read MoreLa Trobe Financial’s Senior Vice President and Chief Investment Officer, Chris Andrews, provides some insights into the way the company conducts its business, the products it offers, and what it stands for.
Read MoreAt the close of trade, the Dow Jones index was down by 457 points or 1.9%. The S&P500 index was lower by 2.1% and the Nasdaq index fell by 189 points or 2.1%.
Read MoreSecond wave warnings are becoming louder across the globe as economies continue to gradually reopen. Dow down -457.
Read MoreWall Street sold off in the final hour of the session to turn a modest slip into a sharp, 2% slump for the S&P 500, a 457 slide for the Dow, and a big loss for the booming Nasdaq.
Read MoreAccording to the NAB, the economy will not bounce back strongly as many in government and business think – the bank’s economists reckon it won’t recover until 2022, and unemployment will still be 7% next year.
Read MoreAustralian shares fell by 1.1% on Tuesday as COVID-19 cases lift in China and South Korea while trade tensions with China resurface.
Read MoreSellers have pushed the sharemarket lower on Tuesday, in the process erasing the improvements of a day earlier. Property Trusts have led the declines, while Healthcare names have been the only sector to avoid the attention of sellers.
Read MoreInvestors balanced caution over new spikes in coronavirus infections against economic reopening efforts. Shares of tech giants Amazon, Apple, Netflix, Alphabet, and Microsoft lifted 1.1%-1.4%.
Read MoreUS Big Tech was at it again last night as the Nasdaq posted its sixth straight gain. Dow down -109.
Read MoreInvestors seem to be looking past the economic pain ahead, with Aussie shares lifting strongly on Monday. Travel stocks like Webjet and Flight Centre rose along with retailers as the economy slowly reopens.
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