October 17, 2023

The S&P 500 closed near the flat line on Tuesday as investors analysed the latest bond yield moves and corporate earnings season gained steam. The broad index slipped 0.01 per cent to end at 4,373.20, while the Nasdaq Composite slipped 0.25 per cent to 13,533.75. The Dow Jones Industrial Average added 13.11 points, or 0.04

Ozempic, the miracle drug initially designed to combat diabetes but now renowned for its effectiveness as a weight-loss treatment, is sending shockwaves through the ASX as short sellers bet heavily against its potential impact on market valuations. This pharmaceutical sensation, which has caused a global shortage due to soaring demand for off-label use, is captivating

Nvidia has found itself in the crosshairs of expanded U.S. export controls on artificial intelligence (AI) semiconductor chips destined for China. This move by U.S. regulators could have significant implications for the company, which derives nearly one-fifth of its revenue from Chinese sales, according to its latest quarterly earnings report. The Biden administration is reportedly

Once again, the strength of consumer demand and buying has caught market economists and analysts off guard, resulting in a significant miss in their estimates of US retail sales for September. The market forecasted a modest 0.3% increase, which fell far short of the actual 0.7% rise. This surprising surge was accompanied by a notable

A nervous Reserve Bank board has its hand on the interest rate lever, ready to push the cash rate up to 4.35% at the Melbourne Cup meeting on November 7 if it feels inflation is getting out of hand. The minutes of the October board meeting, released on Tuesday, clearly show that the bank and

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the war in Israel and oil. Key points:The war in Israel has added to the upside risks to oil prices and downside risks to shares in the near term.If Iran stays out of the conflict & a major supply disruption is avoided

The ASX overcame a two-session losing streak thanks to a surge in technology-related stocks, despite some surprisingly cautious remarks from the Reserve Bank of Australia. The central bank considered increasing rates by 25 basis points but ultimately chose to keep them steady at 4.1%. The minutes also highlighted the board’s limited patience for a slower-than-expected

Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance. It appears that even car enthusiasts are refraining from splurging on vehicle parts and accessories, as indicated during the annual meeting held on Tuesday. Factors