January 2024

Oil prices dipped slightly on Friday, despite recording a notable weekly gain due to heightened tensions in the Middle East and a bullish update from the International Energy Agency (IEA). The West Texas Intermediate contract for February dropped by 67 US cents, or 0.9%, settling at $US73.41 per barrel. In comparison, March Brent oil lost […]

Wall Street has finally shaken free of the year-start blues to pick up again on the year-end Fed pivot surge, although not with the same conviction as support for tech stocks, especially those in AI, which helped boost expectations last week. Wall Street had another strong week as investors returned in force after the month’s

The ASX 200 is set to seek a modest 26-point gain this morning following a strong finish for the SPI futures (early Saturday, Australian time). On Friday, the ASX 200 recorded a robust 74.7-point, or 1%, gain, closing the week at 7421.2. However, it still experienced a 1% loss for the week. In New York,

This week in the US, important economic indicators will be released, including December inflation readings and GDP estimates, while Tesla and Netflix earnings reports are expected to take center stage. Additionally, several other companies in the S&P 500 will report their earnings. On Thursday, early manufacturing activity data for the US and other economies, including

The S&P 500 closed at an all-time high on Friday as investors returned to buying equities in force following a short-lived market stumble to start the new year. The broad market index rose 1.23 per cent to settle at 4,839.81, surpassing both the prior record intraday and closing highs from January 2022. Meanwhile, the Dow

New Zealand-based jeweler, Michael Hill (ASX:MHJ), has closed half a dozen outlets and retrenched staff and managers in response to what it calls “challenging conditions,” which have adversely impacted profit margins, leading to earnings reductions of over 40%. In fact, the company might even report a small statutory loss for the latest half-year. “The macroeconomic

The impact of the slump in global thermal coal prices has become evident in the latest quarterly reports from major coal miners and exporters, Whitehaven (ASX:WHC) and Yancoal Australia (ASX:YAL). Both companies released their latest figures on Thursday night and Friday morning. Yancoal reported its final quarter and its 2023 financial year results, while Whitehaven

Mesoblast (ASX:MSB; Nasdaq:MESO) announced that the United States Food and Drug Administration (FDA) has granted its allogeneic cell therapy Revascor®, a Rare Pediatric Disease (RPD) Designation. This follows the submission of results from the randomised controlled trial in children with hypoplastic left heart syndrome (HLHS), a potentially life threatening congenital heart condition. Shares are trading

Australian shares have surged as they followed a tech rally on Wall Street due to positive US labor data, which boosted economic optimism and downplayed concerns about Federal Reserve interest rate cuts. The S&P/ASX 200 is 1.02 per cent higher at 7,421.40, while the All Ordinaries also made similar gains. Meanwhile, iron ore prices rebounded,

South Australia has quietly emerged as BHP’s (ASX:BHP) future, with the company’s December quarter and half-year report hinting at a massive extension of its already huge Olympic Dam copper, gold, silver, and uranium deposit. Olympic Dam is already a giant, but BHP also has the highly prospective Oak Dam deposit nearby and two major copper