October 26, 2023

The Nasdaq Composite dropped deeper into correction territory on Thursday as Meta became the latest tech company to offer a forecast that didn’t quite live up to investors’ expectations. The tech-heavy index lost 1.76 per cent, dropping below its 200-day moving average for the first time since March. The S&P 500 dipped 1.18 per cent […]

Chile’s SQM is set to invest an additional $1.6 billion to expand its presence in the Australian lithium production and export sector through the acquisition of Azure Minerals (ASX:AZS). This move will bring SQM’s total planned and spent investments in the sector to well over $3 billion. Azure Minerals’ board has accepted SQM’s offer of

The Australian stock market reached its lowest point of the year, primarily driven by a substantial sell-off in technology stocks. At the closing bell, the S&P/ASX 200 was 0.61 per cent lower at 6,812.30. Futures The Dow Jones futures are pointing to a fall of 70 points. The S&P 500 futures are pointing to a

Australian shares have fallen 0.8 per cent after Wall Street fell on mixed profit reports from Microsoft and Alphabet. Alphabet’s stock price dropped significantly by 9.5 per cent due to struggles in its cloud business. In contrast, Microsoft saw a 3.1 per cent increase in its stock price. Facebook’s parent company, Meta, reported improved earnings

Coles (ASX:COL) fell short of matching the September quarter sales performance of its bigger supermarket rival, Woolworths (ASX:WOW). While Woolies lifted group sales by 5.3% and Australian food (supermarkets) by 6.4%, Coles reported a 3.6% rise in first-quarter sales and 4.7% for its supermarkets. Excluding tobacco sales (which continue to fall), Coles supermarket sales were

Australian consumer electronics giant JB Hi-Fi (ASX:JBH) has reported sluggish growth, following Super Retail Group’s earlier announcement of a stable but unremarkable start to the 2023-24 trading year. JB Hi-Fi disclosed that first-quarter sales are meeting expectations, with softer trends in its Australian electronics stores and a significant 12.2% decline in sales at white goods

Governor of the Reserve Bank of Australia, Michele Bullock, has stated that they are still in the process of analysing the recent CPI (Consumer Price Index) figures. She has not made a definitive statement about whether these figures would lead to a significant alteration in the bank’s outlook on inflation and the possibility of raising