June 29, 2023

The Dow Jones Industrial Average rose on Thursday as big bank names gained after passing the Federal Reserve’s annual stress test, and a revised upward GDP print alleviated some recession fears on Wall Street. A slate of positive economic data signalled economic resilience despite looming recession fears. That included a large upward revision in first-quarter

Apple approached the elusive $3 trillion valuation mark on Wednesday, benefiting from positive sentiment surrounding tech stocks and optimism about artificial intelligence. However, the stock couldn’t sustain the rise and closed at $189.25, putting its market value at $2.98 trillion. As the end of the June quarter and half-year approached, some analysts speculated about a

A mini-blast of economic data for the Australian economy this week ahead of the July policy meeting of the Reserve Bank next Tuesday: inflation easing, job vacancies weakening, retail sales rising in May, and a check-up of the finances of everyday Australians revealing an important figure missed by most analysts. The monthly inflation indicator for

Goldman Sachs Group has experienced a significant shift in its ranking as the leading mergers and acquisitions adviser globally. For the first time in five years, Goldman Sachs has lost its top position to JPMorgan Chase & Co. According to Bloomberg data, JPMorgan now holds the coveted No. 1 spot, boasting a 22.5% market share

The Australian share market ended the day near flat at 7194.9 points. Although technology stocks performed well, the gains were not enough to offset the losses in mining, real estate, and utilities sectors. Among the technology companies, WiseTech (ASX:WTC) saw a 2.2 per cent rally in shares, Xero (ASX:XRO) climbed 2.3 per cent, NEXTDC (ASX:NXT)

Job vacancies in Australia decreased by 2% in May 2023 compared to February 2023, with private sector vacancies declining by 2.3% and public sector vacancies increasing by 0.3%. Despite the decline, job vacancies remained high, around 89% higher than before the COVID-19 pandemic, and businesses continued to face challenges in recruiting and retaining staff. At

North Stawell Minerals (ASX:NSM) has upgraded its Wildwood Mineral Resource. Chief Executive Russell Krause said that the increase “reflects an increased attention and definition of the lithology model and mineralisation controls of the deposit.” Shares are trading flat at 10 cents. Next Science’s (ASX:NXS) unaudited product sales for Q2FY23 are expected to be above US$5.6m.

Medibank (ASX:MPL) today announced its plan to distribute an additional $125m to its customers as part of the company’s comprehensive COVID-19 support package and give-back program. This new allocation brings the total amount of support provided to customers since the beginning of the pandemic to an impressive $1.15bn. Under the “cash-back” scheme, Medibank and ahm