The S&P 500 and Nasdaq Composite fell on Wednesday as investors shifted away from high-flying technology stocks towards more rate-sensitive sectors. The broad S&P 500 dropped 1.39 per cent to close at 5,588.27, while the tech-heavy Nasdaq declined 2.77 per cent to finish at 17,996.92, marking its worst session since December 2022 and its first […]
S&P500 falls as investors shift away from tech stocks Read More »
Vale, the big Brazilian iron ore giant, has had a rip-roaring bounce-back in the June quarter. So much so, it has snatched back the title of the world’s biggest producer from Rio Tinto (ASX:RIO). However, Rio Tinto has held on to the title as the leading iron ore exporter by the end of June. According
Brazil’s Vale regains title from Rio Tinto Read More »
Has BHP (ASX:BHP) quietly dropped its boycott of investing in coal in Queensland in protest at the Labor Government’s significant increase in coal royalties? After spending much of 2023 and 2024 telling anyone who would listen that they would not invest because of the royalty increase, the issue wasn’t mentioned in Wednesday’s financial year operations
BHP’s strategy shift Read More »
No more Green Fortescue. Andrew “Twiggy” Forrest’s Fortescue Metals Group (ASX:FMG) will sack 700 people, scale back its green ambitions, and reintegrate the group into one corporate structure. A one-page statement to the ASX late Wednesday revealed the plans, previously outlined by Forrest in a message to staff. The bottom line is that iron ore
Fortescue Metals Group to cut 700 jobs Read More »
Wednesday’s big tech sell-off saw the top three most valuable stocks in the US become two if you use the $3 trillion value line as the qualifier. Shares in Nvidia, the AI chip star, fell, dropping under $3 trillion for the first time in a couple of weeks after slumping 6.6%, taking the closing value
Wednesday’s big tech sell-off Read More »
While global investors are increasingly confident that the global economy is headed for a so-called soft landing, they have lost some of their fears about inflation, according to the July Bank of America Global Fund Manager Survey, released on Wednesday. The survey showed that 68% of respondents now expect a soft landing as the most
Global fund manager survey reveals growing optimism for a soft landing Read More »
For the second time this year, German sportswear maker Adidas has boosted its earnings guidance, continuing to defy analysts who forecast doom and gloom for the company after it cut ties with rapper Kanye West in late 2022 over anti-Semitic remarks he had made. The decision to end the deal with West left Adidas stuck
Adidas defies expectations with surging earnings Read More »
On Wednesday, the Australian sharemarket surged to a new intraday high, driven by a strong performance in interest rate-sensitive sectors such as technology and real estate. The S&P/ASX 200 Index closed 0.7% higher at 8057.9 points, with all 11 sectors seeing gains. Property stocks rose by 1.5%, led by Goodman and Scentre, while the information
ASX grows 0.7%: All 11 sectors see gains Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses Australian shares. Key pointsWith Australian shares reaching a new record high we have revised up our slightly our expectations for the ASX 200 this year (from 7900 to 8100) reflecting prospects for lower interest rates globally and eventually in Australia boosting the
Australian shares at new record highs – is it sustainable? Read More »
To register for Friday’s webinar click here. Andromeda Metals (ASX:ADN) announced that it has entered into a binding Offtake Agreement with Traxys Europe S.A. for the sale and purchase of Andromeda’s kaolin products for the first 5 years of production. The Agreement supersedes the Heads of Agreement signed previously and secures the binding offtake commitments
Stocks of the Hour: Andromeda Metals, Nutritional Growth Solutions, Somerset Minerals Read More »
