Stocks fell Tuesday as concern over the state of the economy – China in particular – and a decline in US banks combined to pressure Wall Street. The Dow Jones Industrial Average slid 361.24 points, or 1.02 per cent, ending at 34,946.39 and breaking a three-day positive streak. The S&P 500 pulled back by 1.16 […]
Stocks suffer as China’s data figures disappoint Read More »
Shareholders in Fletcher Building (ASX:FBU) are set to receive reduced final and full-year dividends following a significant drop in earnings for the year ending on June 30. The decrease in earnings was anticipated due to write-downs on two troubled projects and a slight decrease in revenue, totaling $NZ8.469 billion (compared to $8.498 billion in 2021-22).
Shareholders to receive lower dividends as Fletcher Building reports earnings decline Read More »
Shares in US banks experienced a drop on Tuesday following indications that the Fitch ratings group might follow rival agency Moody’s in downgrading the credit ratings of several American banks, including industry leader JP Morgan. The news emerged from an interview with a Fitch bank analyst on CNBC, discussing a report released by the ratings
US bank shares decline as Fitch hints at possible credit downgrades Read More »
US interest rates are anticipated to remain elevated for an extended period following the surprising surge in July’s retail sales, which exceeded expectations. The robust 0.7% increase (compared to a forecast of 0.4%) and a revision for June from an initial 0.2% rise to 0.3%, have prompted a couple of US economists to speculate whether
Higher for longer: US interest rates poised for increase after strong July retail sales Read More »
16 Aug 2023 – Stocks fell Tuesday as concern over the state of the economy – China in particular – and a decline in US banks combined to pressure Wall Street.
Stocks suffer as Chinas data figures disappoint Read More »
No wage price-spiral for economists, the Reserve Bank, and business media to obsess over after the Wage Price Index for the June quarter of 2022-23 eased from the level in the three months to March. According to business groups and their media associates, the Reserve Bank’s Governor, Philip Lowe, and others, wages were supposed to
The weak final data dump for July from China’s National Bureau of Statistics easily explains why the country’s central bank popped up with a surprise rate cut, the second in three months on Tuesday. In short, the figures for retail sales, investment, and production confirm the economy has drifted towards a black hole that was
China’s economy faces challenges: Weak data prompts central bank action Read More »
The price of gold has dropped to a five-month low due to improved expectations of a gentle economic slowdown in the US and a series of disappointing economic indicators from China. This decline brought the spot price of gold down to $1906.39 on Tuesday, the lowest it has been since 14 March. Market experts have
ASX closes 0.4% higher as gold price hits five-month low Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses productivity. Key pointsThe last 20 years have seen a slump in productivity growth in Australia from over 2% pa to less than 1% pa. This has curtailed growth in living standards and real wages. It will adversely affect asset class returns if
Why the need to lift productivity and why it might be hard Read More »
15 Aug 2023 – The S&P/ASX 200 index is currently trading 0.53 per cent higher at 7,315.80. Wages have seen a 0.8 per cent increase, falling short of the anticipated 0.9 per cent growth.
Afternoon update: ASX 0.53% higher, China unexpectedly cuts rates Read More »
