November 2023

The Dow Jones Industrial Average rallied Thursday to a new high for the year, as more cooling inflation data and strong Salesforce earnings capped the benchmark’s best month since October 2022. The 30-stock Dow gained 520 points, or 1.47 per cent, to 35,950.89, surpassing its previous high for the year in August. The S&P 500 […]

Global oil prices plummeted after the OPEC+ group failed to reach a consensus on production levels for some members. Led by Saudi Arabia, others continued existing output reductions into 2024. The bottom line from the online meeting held on Thursday, delayed from Sunday, is that the status quo remains unchanged, with no mention of further

China’s official activity survey for November indicates a continued slowdown in its economy. Manufacturing contracted for a second consecutive month, while non-manufacturing activity reached a new yearly low. The official manufacturing purchasing managers’ activity index unexpectedly dropped to 49.4 in November from 49.5 in October, the lowest reading since June. This was slightly worse than

Inflation is falling on both sides of the Atlantic, which is good news for all concerned. In Europe, the advance data on inflation showed a slide to an annual rate of 2.4% from 2.9% in October, while in the US, so-called PCE (personal consumption expenditure) inflation is still falling to 3% in October, from 3.6%

Warren Buffett’s investment in Occidental Petroleum is deepening his involvement in fossil fuels, as reported by US media. Occidental Petroleum, one of Warren Buffett’s favored investments with a nearly 26% stake, is reportedly pursuing additional oil and gas resources from the productive Permian basin in Texas, according to the Wall Street Journal. The paper suggests

Shares in the exploration company Cooper Metals (ASX:CPM) surged by 62% on Thursday after it unveiled a substantial intersection of high-grade copper in a drilling program near Mount Isa. Cooper Metals reported that it had encountered high-grade copper mineralisation from a drill hole at the Brumby Ridge prospect within its Mt. Isa East copper-gold project

On Thursday, the Australian stock market made significant progress, driven by strong increases in cyclical stocks. This surge was fueled by a continued decline in bond yields, which raised expectations of imminent interest rate cuts, a possibility that was not previously anticipated. The yield on the US 10-year Treasury bond has dropped to less than

The capitulation of the long end of the yield curve has been brutal. In the US, for the best part of 18 months, the inverted yield curve (defined as long end interest rates lower than the short end) has predicted a recession. This has been supported with several credible forecasters assigning up to +90% probability

Australian Pacific Coal (ASX:AQC) and its joint venture partner Tetra Resources have successfully secured a significant funding package to revive the Dartbrook Mine. The joint venture has received an offer for a 3-year USD60 million (approximately AUD90 million) debt facility from Vitol Asia Pte Ltd, a renowned global energy and commodities company. This development marks