August 2023

Stocks retreated Tuesday as an August selloff was reignited by a downgrade of the banking sector by credit rating agency Moody’s. The Dow Jones Industrial Average was down 158.64 points, or 0.45 per cent, to close at 35,314.49. At session lows, the index dropped about 465 points. The S&P 500 dipped 0.42 per cent to […]

Moody’s, the sole major rating group maintaining Australia’s AAA credit standing after Fitch’s recent downgrade to AA+, has shifted its focus onto the credit ratings of Australian banks. On Monday night, Moody’s delivered its verdict, revealing its concerns about the sector. In a surprising move, Moody’s downgraded the credit ratings of more than two dozen

Goldman Sachs predicts a continued decline in iron ore prices this year due to a looming surplus in the physical market and increasing worries about China reducing its steel output, with the current 11.6% drop in iron ore futures from their recent high of US$114.95 to US$101.65 per tonne expected to worsen by a further

The S&P/ASX 200 index is trading 0.14 per cent higher at 7,319.60. Moving on to futures, the SPI futures are up 14 points, indicating a promising session ahead. Let’s take a look at the best and worst performers today. Health Care is leading the way, up 0.51 per cent, while Consumer Staples is struggling, down

The Diggers and Dealers Mining Forum, an annual event that brings together industry leaders, investors, and experts in the mining sector, was held for the 32nd time in the historic goldfields town of Kalgoorlie. This year’s forum was marked by the presence of 2,500 delegates representing nearly 1,000 companies. The event served as a platform

In something of a surprise, the National Australia Bank’s (ASX:NAB) latest monthly business survey not only confirmed continuing resilience in business conditions and confidence but also highlighted an uptick in what it called “inflation-related measures.” The NAB economics team says that uptick challenges “expectations that the economy would continue to cool as 2023 wears on.”

In a strategic move to bolster its position in the global energy market, Woodside (ASX:WDS) has announced a landmark agreement with LNG Japan. The deal comprises three key elements: equity in the Scarborough Joint Venture, potential LNG offtake, and collaboration on ventures in the emerging new energy sector. Woodside’s CEO, Meg O’Neill, welcomed LNG Japan

China’s trade performance in July fell short of forecasts, with exports experiencing a steep decline of more than 14%, and imports falling by a significant 12%. Despite leaving the country’s trade account balanced with a surplus of over $US80 billion, the outcome continued the slide seen since earlier this year, adding more confirmation to the

In a recent ANZ-Roy Morgan survey, consumer confidence took a hit, declining by 3.4 percentage points to 75 last week. This drop occurred even as the Reserve Bank of Australia decided to keep the cash rate on hold. The persistently weak confidence levels, remaining below 80 points, have now endured for an unprecedented 23 consecutive