August 11, 2024

See, there is life after being a headless chook for a couple of days. Wall Street almost eliminated the big losses from Monday by the afternoon trading session on Friday, but eased and left a few small blobs of red ink on the table. The S&P 500 rose 0.47% to finish at 5,344.16 at Friday’s […]

Iron ore edged up on Friday to reclaim the US$100 a tonne mark but fell short of the previous week’s closing high. The price of 62% fines finished the week at US$100.90 a tonne on the Singapore Exchange (SGX) trading platform. This represented a daily gain of 1.45% from Thursday’s sub-$100 close of US$99.46 a

US stocks edged higher on Friday as the market continued its remarkable recovery from Monday’s sharp sell-off, nearly erasing the week’s earlier losses. The S&P 500 rose 0.47 per cent, closing at 5,344.16, while the Nasdaq Composite gained 0.51 per cent, ending at 16,745.30. The Dow Jones Industrial Average added 51 points, or 0.13 per

So, Wall Street is back on par with a week ago—but that disguised the big rebound in the megacaps, led by Apple, which survived the news that Warren Buffett has sold half of Berkshire Hathaway’s stake, taking a lot of money and going into US T-notes. In fact, after predicting the end of the megacap

The ASX is looking at a near-60-point gain at the resumption of trading this morning after Wall Street clawed back all of Monday’s losses by Friday with another solid session. That should be a solid follow-up to Friday’s 95.7-point, or 1.25%, gain to close at 7777.7. Wall Street’s gains were driven by outperformance by the

Oil rose in the wake of more tensions in the Middle East and the surprise incursion by Ukrainian forces into parts of southern Russia, near the city of Kursk (scene of a major tank battle in the Second World War). And in Asia, thermal coal prices jumped as China’s huge heat wave continued across much

Gold regained most of the losses incurred late last week and on Monday by Friday’s close, but the Comex front month was still down 0.6%. Gold traded higher on Friday afternoon, rising for the third straight day as the US dollar eased. Comex gold for December delivery was last seen up 0.3% at US$2,470.60 per

In the 1980s, the Australian wine industry faced such severe challenges that the Calabria family of winemakers had to halt their primary operations and focus on washing bottles for larger producers to stay afloat. Today, with global consumers shifting away from the lower-priced “commercial” brands that once propelled Australia to wine industry prominence, the situation

Rising U.S. economic nationalism is poised to disrupt global trade, regardless of who wins the White House in November, with shipowners particularly alarmed at the prospect of Donald Trump’s protectionism returning “on steroids,” according to the head of a major industry group. “The world order hasn’t faced such a threat since before World War II,”

More cackling this week from the henny-pennies about the health of the US economy, with the focus shifting to the consumer price inflation report for July. But there will also be other big decisions: a probable rate cut in New Zealand on Wednesday, wages data for Australia and the July jobs report, as well as