December 5, 2023

Moody’s Investors Service has downgraded its outlook on China’s sovereign credit rating to negative. The agency cited growing risks of persistently lower midterm economic growth and the ongoing negative impact from the country’s property crisis, which shows few signs of improvement. Moody’s believes that the property sector’s troubles will compel the government to bail out […]

Apple’s market value surged past $3 trillion for the first time in four months on Tuesday as Apple shares gained 2% to reach $193.42. Despite reducing its shares through buybacks, the tech giant has seen its stock price rise by over 52% this year, showcasing its resilience. Apple initially crossed the $3 trillion milestone in

The Dow Jones Industrial Average and the S&P 500 slid on Tuesday as a recent rally on Wall Street lost steam. The 30-stock Dow slid 79.88 points, or 0.22 per cent, to close at 36,124.56. The S&P 500 inched lower by 0.06 per cent to 4,567.18. The Nasdaq Composite gained 0.31 per cent to end

Global oil prices continued to decline on Tuesday, causing more concern for Russia. US crude prices reached their lowest levels since mid-year, hovering at around $72.57 a barrel at 7 am Wednesday, Sydney time, while Brent was trading at approximately $77.40. Prices briefly increased during early trading when Russia suggested that the OPEC+ group might

The chances of today’s Australian third-quarter GDP coming in weaker than forecast rose on Tuesday, with the country seeing a near $8 billion plunge in its current account deficit, reaching a deficit of $158 million. The fall in the current account surplus into a small deficit was due to a slide in commodity prices, especially

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses rates. Key pointsAt its December meeting the RBA left rates on hold but retained a tightening bias with still hawkish commentary.Our concern remains that the RBA has tightened more than necessary with a high risk of recession next year.The risk of another

Australian shares experienced their most significant single-day drop in over a month on Tuesday, reflecting a change in trader sentiment after a robust November rally. Despite this decline, the benchmark index partially recovered some of its losses following the Reserve Bank of Australia’s decision to maintain interest rates at 4.35 percent, a move anticipated by

Kobe auction result Atlas Pearls (ASX:ATP) has sold 130,000 loose pearls for total revenue of $14.81 million in an auction in Kobe, Japan. In response, Atlas Pearls’ CEO Michael Ricci commented: “The sales outcome underlined the continuing strength in the global market for south sea pearls with strong demand for the Company’s offering from both

The Reserve Bank of Australia (RBA) has announced its decision to keep the cash rate unchanged at 4.35 per cent in its final policy meeting for the year. This move was widely anticipated by the financial market and economists, given the central bank’s recent efforts to address inflation concerns. The RBA had increased interest rates

The forecasts for 2024 have been coming in rapidly, and some predictions about stock markets have turned out to be quite inaccurate, especially regarding key measures like the S&P 500. One forecast that drew attention this week came from Moody’s, which issued a cautionary outlook for the health of the global banking sector in the