August 6, 2023

The S&P 500 and Nasdaq Composite slumped Friday for a fourth straight session, and notched their worst weeks since March, as traders seemed to book profits following the latest corporate earnings releases and US jobs data. The S&P 500 shed 0.53 per cent to finish at 4,478.03, while the Nasdaq Composite dipped 0.36 per cent

Renowned gold mining executive Raleigh Finlayson is tipping a spate of intensified deals in the Australian gold sector, expressing an uncommonly bullish outlook for the precious metal. As the Managing Director of Genesis Minerals, Finlayson believes the recent takeover tussle for Musgrave Minerals may just be a precursor to bigger mergers and consolidation plays on

Economists are pointing out that there could be a statistical reason for a small rise in month-on-month and annual inflation, which could also be aided by July’s upturn in oil and petrol prices, now reaching 9-month highs in some parts of the US. July’s Consumer Price Index (CPI) is expected to be similar to June’s,

The ASX is poised to start with a small loss of around 12 points this morning, following the cooler than expected US jobs report for July, which left Wall Street underwhelmed and down for a 4th consecutive day. After opening flat on Friday, the ASX 200 dipped into the red at midday but eventually closed

Australia’s June 30 earnings season kicks off this week with 11 majors reporting, led by one of the biggest of all – the Commonwealth Bank – which releases its 2022-23 full-year figures on Wednesday. Others to report include QBE and AMP with half-year figures, Suncorp with a full-year result, James Hardie with its first quarter,

The number of oil rigs operating in the US fell again last week as global prices rose for a sixth week after Saudi Arabia and Russia committed to continuing their production cuts into September. Brent crude futures for October eased 10 cents, to $US86.15 a barrel at the close Friday, while US West Texas Intermediate