January 2024

A timely reminder to markets: don’t get too ahead of reality when it comes to US inflation. December’s Consumer Price Index (CPI) revealed a higher-than-forecast reading. US headline inflation rebounded slightly to 3.4%, up from November’s 3.2% and market forecasts for a 3.2% result, according to data from the Bureau of Labor Statistics. Month-on-month inflation

On Thursday, shares in the Australian stock market rose, with the S&P/ASX 200 gaining 0.5%, driven by a tech rally on Wall Street and the approval of bitcoin exchange-traded funds in the US. This increase followed a year of limited gains and a 1.1% decline since January 1, with gains in tech, consumer-related, and banking

Australian shares are up 0.5 per cent by mid-afternoon, boosted by Wall Street’s mega-cap tech stock rally and the approval of US bitcoin exchange-traded funds. 10 out of 11 sectors showed gains, with consumer-related and tech stocks offsetting mining losses. Key performers included JB Hi-Fi, Light & Wonder, Collins Food, and tech stocks like NextDC,

Things are not looking good for the small Western Australia (WA) lead and silver miner, Galena (ASX:G1A), with a trading halt on Tuesday turning into a suspension until the end of January on Thursday. On Tuesday, Galena requested a trading halt until Thursday to facilitate a review of the company’s mining operations at the Abra

Norfolk Metals (ASX:NFL) has announced that phase 2 drilling has commenced at the Orroroo Uranium Project. Executive Chairman Ben Phillips comments: “The maiden drill program has proceeded as scheduled and we are pleased to see the team back in the field so early in January.” Shares are trading 2.63 per cent higher at 19.5 cents.

Bitcoin surged past US$47,000, and Ethereum saw a more than 10% increase following the approval of spot bitcoin exchange-traded funds (ETFs) by US regulators. This development is expected to open the doors for billions of dollars to flow into the largest digital currency. Bitcoin was up 2.9% at approximately $47,412, which also boosted other cryptocurrencies

Bitcoin has surged past US$47,000, and Ethereum jumped over 10% in value after receiving regulatory approval from the United States Securities and Exchange Commission (SEC) to launch spot bitcoin exchange-traded funds (ETFs). This decision is expected to unlock billions of dollars in inflows into the world’s largest digital currency. As of now, Bitcoin is trading