Wednesday At The Open

US sharemarkets were mixed on Tuesday as investors reacted to earnings season and the collapse of the US Senate healthcare bill. The Dow was dragged lower by a 2.6% drop in Goldman Sachs on disappointing commodity and bond trading revenue. However the Nasdaq hit fresh intra-day record highs after Netflix rallied by 14% following upbeat earnings.

Read More

Monday At The Open

US sharemarkets posted firm gains on Friday with generally softer economic data serving to scale bank prospects for a near-term rate hike. After releasing earnings results, shares in Citigroup fell by 0.4%, Wells Fargo lost 1.1% and JPMorgan Chase lost 0.9%.

Read More

The Week That Was

The Bank of Canada (akin to our Reserve Bank of Australia) shocked just about everyone with a decision to hike official interest rates for the first time in 7 years. The 25 basis point rate hike took the rate to 0.75 per cent, with the market consensus suggesting the move was based on a more upbeat pace of economic expansion rather than inflation, which continues to track below the BoC target.

Read More

Monday At The Open

US sharemarkets posted firm gains on Friday. Better-than-expected job gains gave investors confidence about the state of the economy. The Dow Jones rose by 94 points or 0.4% with the S&P 500 up by 0.6% and the Nasdaq gained 64 points or 1.0%. Over the week the Dow rose 0.3%, the S&P 500 rose 0.1% and the Nasdaq rose by 0.2%.

Read More