Blood on the streets on the ASX 200 today, market down 110 points to 7195 (-1.5%), posting its biggest drop in six weeks. REITs put up some resistance following solid earnings reports VCX +2.4%, MGR +5.3% and SCG +1.5%. Energy stocks fell, as crude oil fell for a third day after a drop in US…
US equity markets fell sharply overnight after stronger-than-expected retail sales data showed continued consumer resilience which stoked concerns that interest rates could stay higher for longer. Dow Jones fell 361 points (-1.02%). Dow at worst down 399 points. S&P 500 down 1.16%, falling below its 50-DMA for the first time in more than three months, halting a…
MARKET AT MIDDAY The ASX 200 is down 109 points to 7197 (-1.5%), echoing the sell-off on Wall Street. The decline was led by drops in the materials, financials, and tech sectors. BHP Group (BHP) experienced a 2.5% fall, Fortescue Metals Group (FMG) fell 2.1%, and Rio Tinto (RIO) dropped 2.1%. Technology was not far behind, with Computershare (CPU) dropping 3.0% after results release last night. Commonwealth Bank (CBA)…
US markets finished a choppy session higher on Monday. The Dow edged higher, up 26 points (+0.07%). Dow at best up 54 points. Dow at worst down 111 points. Big tech drove the S&P 500 and NASDAQ higher, +0.58% and +1.05%, respectively, boosted by a 7.1% jump in Nvidia after Morgan Stanley named Nvidia the…
US markets finished a choppy session higher on Monday. The Dow edged higher, up 26 points (+0.07%).
MARKET AT MIDDAY The ASX 200 is up 50 points to 7327 (+0.7%) boosted by strong performances from healthcare giants CSL and Cochlear. The healthcare sector surged over 3.6%, largely attributed to Cochlear (COH), gaining 6% as it revealed a 4% increase in statutory profits, totaling $301m. CSL also contributed, advancing 4.3% after declaring a 10% surge in full-year underlying profits to $4bn. National Australia Bank (NAB)…
ASX 200 rallied 28 points to 7305 (+0.4%) as results dominated today. Big names hitting the boards, CSL, COH, and NAB trading update. The banks were solid but unspectacular with the Big Bank Basket rising to $179.26 (+0.1%) after NAB quarterly update. NAB up 1.3% on a new buyback. Insurers bounced back on higher yields…
US markets experienced a general decline last week as they absorbed fresh inflation data and evaluated the future trajectory of the Fed's interest rates. The Dow increased by 105 points (+0.30%) on Friday reaching its peak with a gain of 179 points, but also experienced a low point with a decline of 116 points. The S&P 500 registered a slight…
MARKET AT MIDDAY The ASX 200 is down 30 points to 7310 (-0.4%) starting the week on a weaker note, with the opening 0.4% lower, influenced by losses in the industrial and financial sectors. Lithium stocks getting hit Pilbara Minerals (PLS) -4.3%, Mineral Resources (MIN) -1.7%, Allkem (AKE) -2%, and Liontown Resources (LTR) -0.4%. Beach Energy (BPT) fell 3.6% due to a 24% decrease in full-year profit, while Aurizon (AZJ) dropped 2% as…
