How quickly the mighty fall, or a correction time for Nvidia so soon after reaching the top. Nvidia shares lost 6.68% on Monday, taking the fall since its peak five days ago to more than 11% and into a correction right at the end of the month and quarter. So it’s no wonder the Dow […]
Nvidia’s swift decline Read More »
The Dow Jones outperformed the two other major indices as investors appeared to rotate out of tech and into financials and utilities, whilst the sell off in Nvidia gathered pace. The Dow finished 0.67 per cent higher, whilst the S&P 500 fell 0.31 per cent and the tech heavy Nasdaq slumped 1.09 per cent for
Dow outperforms as investors rotate out of tech names Read More »
The final step in Solomon Lew’s slow campaign to regain control of Myer (ASX:MYR) – 35 years after his first attempt failed- has been set in motion with Myer issuing an offer to Lew’s Premier Investments to buy some of his retail chains. News of the possible deal saw Myer shares leap 18% at the
Lew’s slow campaign to regain Myer control advances with potential deal Read More »
The Australian sharemarket experienced a decline on Monday, influenced by a series of disappointing company updates, leading to increased investor caution ahead of the upcoming monthly inflation report. The S&P/ASX 200 Index dropped by 0.8% (62.3 points) to 7733.7, with ten of the eleven sectors experiencing losses. The All Ordinaries also fell by 0.8%. Cameron
ASX drops 0.8% as company updates disappoint Read More »
Encounter Resources (ASX:ENR) announced that aircore drilling is expanding the area of shallow, high-grade mineralisation at the Aileron project in the West Arunta region of WA. Continuous near-surface carbonatite has been intersected across four initial aircore drill lines at Crean. Shares are trading 50.72 per cent higher at 52 cents. Premier Investments advises that it
Stocks of the Hour: Encounter Resources, Myer Holdings, Cleanaway Waste Management Read More »
Shares on Australia’s S&P/ASX 200 Index declined at the opening bell due to concerns over potential inflation acceleration prompting the Reserve Bank to consider raising interest rates, contrasting global easing trends. Healthcare stocks, notably ResMed, suffered significant losses following disappointing trial results. Additionally, weakened commodity prices, including a decline in Singapore iron ore futures, impacted
ASX down 0.57% near noon: ResMed suffers significant losses Read More »
Oil prices might have had a good week, but American companies continue to chase productivity with another cut to active rig numbers last week. It’s a trend that has dominated production in the world’s biggest producer for the past couple of years, but has become very noticeable in 2024. Last week saw the number of
US oil rigs decline as productivity drive continues amidst stable prices Read More »
Gold might have gained early on Friday, but like oil, it eased as the session went on. However, similar to oil, it is still heading into the final week of the second quarter and first half with notable gains. In fact, the first six months of 2024 were marked by several record highs and the
Gold and commodities market recap Read More »
The broader market index drifted lower on Friday as the recent Nvidia led rally finally looks to have run out of momentum. The S&P 500 fell 0.16 per cent, while the Nasdaq closed 0.18 per cent lower. The Dow Jones managed to just tip into the green closing 0.04 per cent higher. US markets saw
Nvidia pull back weighs on broader market Read More »
Nvidia dragged Wall Street markets lower on Friday, but they still ended the week higher, albeit a bit stretched. The coming week wraps up the second quarter and the month of June in terms of performance and gains (and losses), with bragging rights for the biggest company depending on how Nvidia, Microsoft, and Apple shares
Nvidia’s influence and economic indicators shape investor sentiment Read More »
