May ends with mixed results amidst inflation uncertainty
So where do markets go on the first day of the new month (and for many companies, the final month of the second quarter and the 2023-24 financial year)?
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Gold sees fourth consecutive monthly gain
Gold had a fourth straight monthly gain in May, and its supporters think it will gain again in the coming days, particularly during the first trading week of June. This is trading off the back of the final inflation report for May, which was released on Friday and left us none the wiser about the course of price pressures, Fed interest rates, and bond yields.
Read MoreA pivotal week awaits Australia’s economy and markets
Big week ahead for the Australian economy and markets. The first-quarter economic growth will be out midweek, but before then, the 2024 National Wage rise will be revealed later today (Monday).
Read MoreInterest rate decisions, economic data, and election results dominate global news
Two interest rate moves are up for decision this week: US jobs data for May, Chinese trade data (also for May), and Australian economic growth for the first quarter.
Read MoreUS markets jump higher as inflation fears ease
The Dow Jones jumped as investors breathed a sigh of relief as key inflation readings released on Friday came in mostly as expected with no negative surprises.
Read MoreHome prices rose 0.8% in May – supply shortfall outweighs high rates but wide divergence in gains
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home prices.
Read MoreShares under pressure from bond ylds, US election, RBA likely to cut, FWC wage decision, Mar qtr GDP
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
Read MoreD3 Energy (ASX:D3E) – Webinar Presentation
David Casey, Managing Director & CEO, D3 Energy's (ASX:D3E) focus is on the exploration and development of the its initial asset, ER315 located in the Free State Province of South Africa.
Read MoreCopper Search (ASX:CUS) – Webinar Presentation
Duncan Chessell, CEO, Copper Search (ASX:CUS) is targeting world class Copper-Gold deposits within the Gawler Craton of South Australia.Copper Search is targeting world class Copper-Gold deposits within the Gawler Craton of South Australia.
Read MoreStar Combo Pharma (ASX:S66) – Webinar Presentation
Su Zhang, CEO, Star Combo Pharma (ASX:S66) is a leading manufacturer and distributor of premium health and natural beauty products, with its high quality development and manufacturing facilities located in Sydney, Australia.
Read MoreKalgoorlie Gold Mining (ASX:KAL) – Webinar Presentation
Matt Painter, Managing Director & CEO, Kalgoorlie Gold Mining (ASX:KAL) is a proven, low-cost gold discoverer with a large portfolio of West Australian projects.
Read MoreWill Nvidia join the Dow?
After next Thursday, June 7, S&P Global has a seriously hard problem to resolve: does it start thinking about including Nvidia in the Dow, Wall Street's oldest and most prestigious index, and if they do, which among the 30 companies in it is to be dropped?
Read MoreBrookfield makes bold move to become Australia’s largest renewable energy owner
Brookfield, a Canadian investment giant, has set its sights on becoming the foremost player in Australia's renewable energy sector with a monumental $10 billion bid to acquire France’s Neoen.
Read MoreASX up 0.49% at near noon following three-day sell-off
At 11:30am, the S&P/ASX 200 is 0.49 per cent higher at 7,665.70, following a three-day sell-off, driven by broad buying spurred by slightly elevated April inflation data.
Read MoreStocks of the Hour: Telix Pharmaceuticals, AVITA Medical, EZZ Life Science
A snapshot of the stocks on the move, featuring Telix Pharmaceuticals (ASX:TLX), AVITA Medical (ASX:AVH) and EZZ Life Science (ASX:EZZ).
Read MoreWinston’s Weekly: The month in review
Winston Sammut, the Director Property of Euree Asset Management, gives his weekly take on the REITs sector.
Read MoreDell’s latest quarterly report: AI and server growth overshadowed
The headline figures from Dell Technologies in its latest quarterly report, issued Thursday after hours, suggested AI and server 'boom,' but on closer scrutiny, investors shouted 'gloom, gloom' as there was a warning of margin pressures from a senior executive in a post-results briefing.
Read MoreAssessing current trends in the US economy
The US economy is still growing, and the job market appears to be solidly underpinned by low unemployment, according to the latest GDP and unemployment benefit claims.
Read MoreUS markets overshadowed by Salesforce & Nvidia falls
US markets were overshadowed on Thursday by softer than expected results from Salesforce and a pull back in the Nvidia share price as the rally finally ran out of steam. Investors were also cautious ahead of the release tomorrow of key U.S. inflation data.
Read MoreSurging demand for data centers offsets weakening mining investment in Australia
Surging demand from AI and various other data needs for cloud computing and data centers is more than offsetting weakening investment from mining, which has traditionally been the driver of new private business capex in Australia.
Read MoreShrinking big oil: M&A and the future of energy
Big Oil is shrinking as its options contract. Breathless reporting and market analysts trumpet takeovers in the oil and gas sector as something positive, but those doing the taking over can tell them that it is all defensive, not expansionary.
Read MoreUS markets overshadowed by Salesforce & Nvidia falls
US markets were overshadowed on Thursday by softer than expected results from Salesforce and a pull back in the Nvidia share price as the rally finally ran out of steam. Investors were also cautious ahead of the release tomorrow of key U.S. inflation data.
Read MoreASX closes 0.5% lower: Dip extends the markets reach to three-week low
The Australian stock market sustained its downward trajectory for the third consecutive session, witnessing a 0.5% decline as reflected by the S&P/ASX 200 index closing at 7628 points. This dip extended the market's reach to three-week lows, a downturn triggered by persistent apprehensions surrounding inflationary pressures.
Read MoreEmpire Energy Group (ASX:EEG) Annual General Meeting, May 2024
Alex Underwood, Managing Director of Empire Energy Group Limited (ASX:EEG), presents at the company's AGM in Sydney.
Read MoreStocks of the Hour: Nanoveu, Anson, Prospect Resources
A snapshot of the stocks on the move, featuring Nanoveu (ASX:NVU), Anson (ASX:ASN) and Prospect Resources (ASX:PSC, FRA:5E8).
Read MoreASX down 0.57% near noon: Best-performing sector is Industrials
Australian shares have declined, mirroring the weakness in New York amidst diminishing risk appetite due to concerns surrounding the trajectory of interest rates, with the S&P/ASX 200 down 0.57 per cent at 7,621.80 at 11:30am, marking a continuation of its three-week lows and a cumulative fall of over 2.5 per cent in the last five sessions. This downturn echoes the losses observed on Wall Street, where the Dow Jones decreased by 1.1 per cent, the S&P 500 by 0.7 per cent, and the Nasdaq by 0.6 per cent.
Read MoreHybrid vs. electric: Shifting gears in the automotive industry
Two product releases this week – one in northern China, the other in Tokyo, could very well help mark the end of the headless rush into pure electric vehicles or BEVs, the kind Elon Musk pushed into the foreground of public knowledge and ignited a boom in China and then around the world that is now spluttering.
Read MoreWestgold Resources secures strategic alliance with Ore Gold
Westgold Resources (ASX:WGX) has secured nearly a quarter of a million ounces of gold in its WA home base region through a $6 million deal with Ore Gold.
Read MoreAustralian beef exports to China resume following suspension
Agriculture Minister Murray Watt has confirmed that five major Australian beef exporters, previously suspended from exporting meat to China, can now resume their operations. The suspension, imposed amidst a trade war between the two nations, has been lifted by Beijing with immediate effect.
Read MoreRising treasury yields weigh heavily on US markets
Another solid performance from AI darling Nvidia was not enough as stocks were broadly lower on Wednesday with Treasury yields continuing to edge higher on the return of concerns around sticky inflation and Fed rate cut timing.
Read MoreBHP withdraws bid for Anglo American
BHP (ASX:BHP) shares rose slightly after it withdrew from its attempt to buy Anglo American, but the latter’s shares fell nearly 4% in the wake of its refusal to continue talking on the proposal from the world’s biggest miner.
Read MoreNOVONIX completes independent engineering assessment of Riverside facility
NOVONIX (NASDAQ:NVX, ASX:NVX), a prominent figure in battery materials and technology, has reached a significant milestone with the completion of an independent engineering assessment of its Riverside production facility located in Chattanooga, Tennessee.
Read MoreConocoPhillips acquires Marathon Oil in $22.5 billion all-stock deal
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, including debt, as consolidation continues to reshape the US oil sector.
Read MoreRising treasury yields weigh heavily on US markets
Another solid performance from AI darling Nvidia was not enough as stocks were broadly lower on Wednesday with Treasury yields continuing to edge higher on the return of concerns around sticky inflation and Fed rate cut timing.
Read MoreUpdate on BHP’s offer for Anglo American
BHP Group (ASX:BHP) disclosed a revised proposal for merging with Anglo American plc (Anglo American), and in response, the Board of Anglo American extended the offer deadline to the 29th of May 2024. BHP welcomed this extension as an opportunity to address concerns raised by Anglo American regarding its proposal. Since then, BHP has engaged extensively with Anglo American and its advisers to resolve these matters.
Read MoreASX drops 1.3%: Inflation unexpectedly rises in April
Australian shares slumped to a three-week low as the pace of inflation unexpectedly rose in April, diminishing investor expectations for an interest rate cut by the Reserve Bank this year.
Read MoreFonterra’s resilience amidst global retreat
Fonterra (ASX:FSF), the huge New Zealand-based dairy giant, might be on the retreat globally with a string of asset sales, but as far as the immediate outlook is concerned, it's quite upbeat.
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Australian inflation, housing, and consumer trends
The widespread autumnal rains in March and April across much of Eastern Australia helped bump inflation up for the second successive month in April.
Read MoreSequoia (ASX:SEQ) – Due Diligence Webinar Presentation
Blair discusses the impact of the changing landscape of geopolitics and how this is likely to impact the global economy and global financial markets over the next few years including inflation, interest rates, and commodities.
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