August 4, 2024

Except for oil, surprisingly, commodities did well in Friday’s bloodbath, led by gold, silver, copper, and iron ore. Oil did rise on Friday but not nearly enough to wipe out the fourth weekly loss in a row. Wednesday’s buying spurt, triggered by a sharp rise in tensions in the Middle East, was not enough to […]

Another big drop is ahead for the ASX today (Monday) after Wall Street plummeted on Friday. The ASX 200 is expected to decline by 115 points this morning following Friday’s near-panic sell-off, which wiped $50 billion from valuations and left the market down 2.1% at 7,943.20. The 171.50-point fall on Friday was not as severe

It should be no surprise that the big sell-off has battered Nasdaq into correction territory (a fall of 10% or more from its most recent peak) — after all, that’s where the bulls were at their most bullish and where the bubble has been greatest: in AI stocks and especially the so-called Magnificent Seven. Nasdaq’s

Australian interest rates, US services activity surveys, a nervous global stock market, more company earnings reports, and crucial data from struggling China will all be in focus this week. Investors will grapple with the negative news of Warren Buffett’s Berkshire Hathaway offloading half its Apple holding and other stocks in a $US75 billion sell-off during

Commodities ranging from copper to corn have been plummeting as ample supplies and waning Chinese demand have prompted fund managers to slash around $41 billion in bullish bets on natural resources. The sell-off in copper, a key indicator of the global economy due to its extensive uses in construction, infrastructure, and manufacturing, has been particularly

In a move that will send shockwaves through markets, Warren Buffett’s Berkshire Hathaway has sold half its holding in Apple as part of a multi-billion-dollar sell-down from stock markets. This dramatically negative message to investors comes just as Wall Street has tanked. Buffett and Berkshire’s move will have a dramatic impact on market sentiment Monday

Six of the seven Magnificent Stocks have reported, and judging by investors’ reactions, it’s open season for pruning some very large, tall poppies. In fact, while Friday’s slump grabbed most of the attention, the tech sector (excluding a big one-off in Intel) has been under increasing fire for about three weeks as more and more

Japan aside, the global monetary policy easing cycle continued to gather pace over the last week. So, what will the Reserve Bank of Australia serve up this week? It started in emerging countries and then slowly spread to developed countries with Switzerland and Sweden cutting rates, followed by Canada and the ECB cutting a few

Gold surged and dipped dramatically during Friday’s volatile session, ultimately finishing the week with a solid 4% gain and a new all-time high above $US2,500 an ounce. The driving forces behind these price fluctuations were growing market valuation concerns and weak July jobs and manufacturing data. Immediately following this data, investors shifted their outlook from

US stocks plunged on Friday following a significantly weaker-than-expected July jobs report, raising fears of a potential recession. The broad market index dropped 1.84 per cent, closing at 5,346.56. The Nasdaq Composite fell 2.43 per cent to 16,776.16, pushing its decline from its recent all-time high to over 10 per cent. The Dow Jones Industrial