June 2023

The Dow Jones Industrial Average on Thursday rallied more than 400 points and the S&P 500 touched a fresh 13-month high, as investors bet the Federal Reserve was close to done raising rates after the central bank this week skipped a hike. Fed Chair Powell’s post-meeting press conference revealed that the Federal Open Market Committee […]

News snippets during Thursday’s ASX trading session from three companies at the smaller end of the local industrials sector. ………… Small listed wine group Australian Vintage (ASX:AVG), has joined its much larger rival Treasury Wine Estates in reporting difficult trading conditions and the need for intense cost-cutting. TWE revealed its problems in Australia and the

The US Federal Reserve now thinks it has managed to guide the US economy onto the firm bit of the runway, instead of an overshoot into a recession, as it seemed to suggest in its March forecasts. The central bank has lifted its GDP forecast for this year from anaemic and near recessionary 0.4% in

Chinese crude steel production dipped again in May to a three month low, defying optimism from a solid rise in iron ore imports in the month. Data from China’s National Bureau of Statistics showed 90.62 million tonnes of crude steel was turned out last month, down from 92.64 million tonnes in April and more than

The Australian sharemarket experienced its longest winning streak in over two months as a result of interest rate cuts by China to revive its struggling economy. These rate cuts helped offset the impact of a stronger-than-expected jobs report in Australia. At the closing bell, the S&P/ASX 200 was 0.19 per cent higher at 7,175.30. The

Magnis Energy Technologies (ASX:MNS; OTCQX: MNSEF; FSE: U1P) announced that the lithium-ion batteries produced at the iM3NY Battery Plant have received UN38.3 certification. MD Hoshi Daruwalla commented: “Our batteries have met the strict safety requirements developed by the UN for transportation.” Shares are trading 2.86 per cent lower at 17 cents. GreenTech Metals (ASX:GRE) has

New Zealand’s economy has fallen into a recession as its gross domestic product (GDP) declined by 0.1 per cent in the March quarter, marking two consecutive quarters of negative growth. The economy had already contracted by 0.7 per cent in the December quarter. This recession was anticipated, as the Reserve Bank of New Zealand had

Stocks gyrated on Wednesday as the Federal Reserve paused its rate-hiking campaign and signalled it was making progress on fighting inflation. As traders were expecting, the Fed kept interest rates unchanged at a target range of 5 per cent-5.25 per cent on Wednesday afternoon, ending a streak of 10 consecutive hikes. Earlier Wednesday, May’s producer