October 2023

Amidst growing tensions in the Middle East, safe-haven buying drove gold to an 11-week high on Wednesday, with the front-month Comex futures price nearing the $2,000 an ounce mark. Comex data revealed that the front-month contract surged by more than $26, or over 1.3%, reaching just over $1,963 at 7 am, Sydney time. Over the […]

China’s crude steel production plummeted to an eight-month low last month, as demand from the property and construction sectors remained feeble, keeping profit margins under pressure. The world’s largest steelmaker produced 82.11 million tonnes of crude steel in September, marking a 5% drop from the 86.41 million tonnes produced in August, as reported by China’s

Netflix has once again defied gloomy analysts and investors by revealing a surge in subscriber numbers, thanks to the introduction of the ad-supported cheaper streaming option. The company also confirmed that price hikes are imminent. The better-than-expected news sent shares soaring by more than 12% just before 8 am Sydney time on Thursday. This rebound

Tesla’s results for the three months ending in September weren’t impressive, especially when compared to Netflix, which pleasantly surprised the market. However, they managed to partially reverse the nearly 5% slide in the electric vehicle (EV) maker’s shares during regular trading, with a modest 1.3% rebound by 8:30 am Sydney time. In after-hours trading, Tesla

19 Oct 2023 – Stocks dropped Wednesday as earnings season gained steam and Treasury yields climbed to multiyear highs.

Stocks dropped Wednesday as earnings season gained steam and Treasury yields climbed to multiyear highs. The 10-year Treasury yield climbed on Wednesday, at one point breaking above 4.9 per cent for the first time since 2007. Meanwhile, the average rate on the popular 30-year fixed mortgage rate just hit 8 per cent, the highest level

Whitehaven Coal (ASX:WHC) plans to acquire two Queensland coking coal mines from BHP and Mitsubishi, opting for a traditional layaway plan over modern equity/debt packages preferred by banks and corporate advisers. Whitehaven will initiate the deal with a multi-billion dollar deposit, followed by staged repayments over the next couple of years, ultimately reaching $US3.2 billion

The Australian sharemarket increased in value on Wednesday, as China’s gross domestic product (GDP) for July-September grew by 4.9% compared to the previous year.  At the closing bell, the S&P/ASX 200 was 0.3 per cent higher at 7,077.60. Futures The Dow Jones futures are pointing to a fall of 29 points. The S&P 500 futures are

The new financing package for Liontown Resources (ASX:LTR) and its Kathleen Valley lithium mine in WA won’t be known until Friday morning. The company requested its shares to be suspended on Wednesday. The suspension request came after Liontown had asked for a trading halt until Wednesday last week to sort out the financing package. The

18 Oct 2023 – The S&P/ASX 200 is trading 0.16 per cent higher at 7,067.40.