October 2023

The Dow Jones Industrial Average broke a three-day losing streak Wednesday as Treasury yields pulled back from multi year highs following the release of much weaker-than-expected jobs data. The 30-stock index gained about 127 points, or 0.4 per cent. The S&P 500 added 0.8 per cent, and the Nasdaq Composite gained 1.3 per cent. Tesla […]

Despite a slight dip in the value of the US dollar, an OPEC vote to maintain its production cap, and an unusually bullish increase in US commercial oil stocks, global oil prices slumped sharply on Wednesday, hitting their lowest levels in a month. It appeared as though the rubber band holding oil prices taut finally

Despite ongoing record sales of battery-powered vehicles in China, the US, and Europe, lithium prices continue to slide globally due to falling prices and excess supply in China. Lithium carbonate prices slumped to approximately $22,900 per tonne late last week in China, just before the Golden Week/National Day holidays shut down the country this week.

Amid the turmoil on Wednesday, with a weakening Aussie dollar, a strong greenback, and weak gold, the Reserve Bank of NZ’s decision to keep its official cash rate at 5.50% passed almost unnoticed. The Kiwi central bank followed other major central banks in maintaining its official rate to assess the evolving situation. The US dollar

It’s not an overstatement to say that the fate of US financial markets, especially bonds and equities, lies squarely in the hands of credit rating group Moody’s, which remains the only one of the big three rating groups with a AAA rating for America’s credit standing. This comes after unprecedented chaos on Tuesday that saw

The Australian sharemarket experienced its lowest point in 11 months, mirroring Wall Street’s losses driven by concerns over rising interest rates following stronger-than-expected jobs data. The S&P/ASX 200 dropped by 0.8 percent, falling below 7000 for the first time since March, closing at 6890, its lowest level since November 3 of the previous year. This

The S&P/ASX 200 is trading 0.75 per cent lower at 6,891.30. Futures The SPI futures are down 41 points. Best and worst performers The best-performing sector is Utilities, up 0.57 per cent. The worst-performing sector is Communication Services, down 1.28 per cent. The best-performing large cap is Northern Star Resources (ASX:NST), trading 1.39 per cent

Twiggy Forrest’s Fortescue has confirmed its involvement as one of the lead investors in the US start-up Electric Hydrogen’s (EH2) Series C funding round. This funding round has catapulted EH2 into the exclusive club of unicorn startups in the green hydrogen industry, which is poised to revolutionise the energy sector. EH2’s Series C round saw