Another losing week for oil, despite growing optimism about a possible rate cut or cuts in the US. With Chinese demand weaker than expected and the US rate cut story about to undergo another test this week with the Fed’s preferred inflation measures to be released, the oil market was left betwixt and between on […]
Oil prices drop amid mixed economic signals Read More »
All three major US indices finished in the red on Friday as the rotation into names that will be the key beneficiaries from easing interest rate policy continued. The S&P 500 closed down 0.71 per cent. The Nasdaq gave up 0.81 per cent, and the Dow Jones slipped 0.93 per cent. On a weekly basis
Markets finish week in the red as rotation trade continues Read More »
A significant 60-plus point decline is expected for today’s reopening of trading on the ASX, following Wall Street’s sell-off and the local market’s 64-point slide the same day. Friday’s sell-off deepened after Wall Street’s decline on Thursday, as the global CrowdStrike/Microsoft computer outage erupted around 3 p.m. Sydney time on Friday. The ASX’s markets and
ASX set for sharp decline amid Wall Street sell-off Read More »
A big week lies ahead for the markets, with US inflation, the global fallout from Friday’s major computer outage, the Trump comeback, Biden’s fade-out, investor nervousness about big techs (with the start of some significant earnings reports), and the endless speculation about a looming rate cut, which seems to be firming up at long last.
American analysts won’t say so, but some outside the US are—this week saw the start of what could end up being called the Great Trump Rotation as investors abandon stocks perceived to be in the way of the former President’s presidential ambitions, such as companies using products, importing them, or working with companies from Taiwan,
The Great Trump Rotation Read More »
America’s June 30 quarterly reporting season accelerates this week with 138 S&P 500 companies (including seven Dow 30 components) scheduled to release results. Away from the business and political factors, it’s time for the bread and circuses this week with the start of the Paris Olympics midweek and then the opening ceremony on Friday night
There was no hiding place in gold as the global CrowdStrike/Microsoft outage plunged markets and businesses into chaos and confusion on Friday. Gold fell sharply, confounding bulls who expected it to firm as a ‘safe haven’ in volatile times like those seen in Friday’s trading. Some commentators said it was probably hard for many traders
Gold plunges amid CrowdStrike/Microsoft outage Read More »
