July 2024

The Federal Reserve has indicated it could start lowering interest rates as early as September, following a decision by US policymakers to maintain borrowing costs at a 23-year high for the eighth consecutive meeting. “A reduction in our policy rate could be on the table as soon as the next meeting in September,” Fed Chair […]

Rio Tinto’s (ASX:RIO) chief executive, Jakob Stausholm, expressed no urgency in pursuing major mining sector deals, labeling a potential takeover of rival Anglo American as “all-consuming” for the world’s second-largest mining company. Stausholm noted that Rio Tinto is now in a stronger position and capable of handling an acquisition, but he cautioned that large deals

All three major indices rallied as the Fed kept rates unchanged but pointed to a likely easing in September as the inflation outlook continues to improve. The broad S&P 500 rallied 1.58 per cent, while the Nasdaq surged 2.64 per cent for the best session since February. The Dow Jones closed 0.24 per cent higher.

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home prices. Key points:CoreLogic data shows that monthly average home price growth remained moderate at 0.5%mom in July, well down from the highs seen around mid-last year.The pace of gains remains highly diverse ranging from falls in Melbourne, Hobart and Darwin to

Federal Reserve Chair Jay Powell has lifted expectations for a rate cut after telling his usual post-meeting media briefing that a rate cut was “on the table” at the central bank’s meeting next month. His remarks came after the Fed left its key rate steady at 5.25% to 5.5%, citing “some further progress” toward its

A golden end to July was triggered by Israel’s assassination of a Hamas leader in Tehran, which sent prices surging close to the unheard-of US$2,500 an ounce level. Gold’s big July was a solo performance. Silver, oil, copper, and iron ore all ended with losses, but US bond yields fell sharply as prices surged. The

In the past couple of weeks, the outlook for the Australian lithium industry had been looking a little more confident. Major local players like Pilbara Minerals, IGO, and Mineral Resources produced output and sales figures for the June quarter and for 2023-24 that showed a steadying of the slump. There were some signs of price

Japan has finally ended a decade or more of a monetary policy experiment that eventually broke the country’s long bout of debilitating deflation and returned price pressures across the economy. The Bank of Japan took a cautious first step in late March, ending negative rates and moving to a benchmark rate of 0.1%. This modestly

The Australian sharemarket surged 1.8% on Wednesday, driven by unexpectedly low inflation figures, quashing expectations of a rate hike. All sectors experienced gains, led by consumer discretionary and materials stocks. Consumer confidence was boosted by the inflation data, while mining giants Rio Tinto and BHP reported strong profits. However, Origin Energy shares declined due to