July 2023

Retail sales in the United States increased for the third consecutive month in June, signalling consumers’ ongoing resilience amidst easing inflation and a robust labour market. According to the Commerce Department, retail sales rose by a seasonally adjusted 0.2% last month compared to May. Although the pace was slower than the previous two months, it […]

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses seven key charts. Key pointsShares are at risk of a short term pull back and volatility will likely remain high on central bank and recession risks.However, we remain reasonably upbeat on a 12-month view as falling inflation takes pressure off interest rates.Seven

Saudi Arabia is poised to lose its position as the top oil producer in the OPEC+ alliance, according to the International Energy Agency (IEA). As the kingdom’s production cuts take effect, coupled with Russia’s slowing exports, the oil market is expected to tighten, coinciding with a potential increase in oil prices. Saudi Arabia, as the

Stocks rose Wednesday as the corporate earnings season continued, with the Dow Jones Industrial Average registering its longest winning streak in nearly four years. The Dow traded 109.28 points higher, or 0.31 per cent, to close at 35,061.21. The S&P 500 climbed 0.24 per cent to 4,565.72, while the Nasdaq Composite added 0.03 per cent

Altan Rio Minerals works on the simple ethos that ‘the best place to find a gold mine is next to a gold mine’. Applying this mindset led the Canadian-listed, WA-focused explorer to the Southern Cross Yilgarn Greenstone Belt, where it has become one of the biggest tenement holders after an aggressive round of acquisitions. Altan

Companies discussed include: BHP Group (ASX:BHP)Rio Tinto (ASX:RIO)Fortescue Metals Group (ASX:FMG)Deterra Royalties (ASX:DRR)

The Energy sector demonstrated strong growth, with a rally of 1.7%. Ampol (ASX:ALD) experienced a significant surge of 4.4% following robust fuel sale volumes reported for the first half of the financial year 2023. Woodside Petroleum (ASX:WPL) climbed 1.4% despite a 29% drop in revenue during the second quarter, amounting to $US3.1 billion (A$4.5 billion).

Woodside Energy (ASX:WPL), reported a 29% decline in revenue for the second quarter, amounting to $US3.1 billion (A$4.5 billion). Sales of oil decreased by 4%, with 48.4 million barrels sold, while production experienced a 5% drop to 44.5 million barrels. Woodside’s CEO, Meg O’Neill, noted “Whilst production and sales were lower compared with the first