Between the Bells

US equities hit a 15-month high on Wednesday after CPI data came in lower than expected, which boosted investor sentiment. The annual inflation rate in the US slowed to 3% in June, the lowest level since March 2021, down from 4% in May and also below the consensus expectation of 3.1% in a sign the Federal Reserve’s hawkish stance on hiking rates is having a significant impact on cooling inflation....

Wall Street rallied on Tuesday as all eyes focus on the release of US inflation data out at 10:30pm tonight Australian Eastern Standard time while investors also welcomed comments from Federal Reserve officials earlier today suggesting US interest rates may be nearing their peak. Salesforce shares rose 0.6% after the company said it would increase prices across the board in August, while American...

It was a positive session in New York overnight, as all three major averages snapped a three-day decline. Shares were broadly higher with the Dow Jones closing 0.6% higher, while the S&P500 and the Nasdaq gained 0.2%. Industrials led seven of the eleven S&P500 industry sectors higher as the closing bell neared, while communication services led the decliners.  And markets are waiting for US...

Investor fears of further rate hikes in the US sparked a sell-off in US equities on Friday despite favourable jobs data being released. The US Labour Department’s June jobs report revealed payrolls increased less than expected by 209,000 for the month following an addition of 306,000 in May, in a sign the tight labour market in the US is continuing to ease. The US unemployment rate came in at 3.6%...

The Aussie share market fell 0.55% this week (Mon-Thu) weighed down by the healthcare sector losing 1.7%, information technology stocks falling 1.66% and the materials sector falling 0.82%. Market volatility was driven this week by outlook for future rate hikes out of the RBA and Federal Reserve alongside recessionary concerns amid signs of slowing economic growth. In this week's wrap, Grady...

On Wall Street overnight, US equities closed in the red, with all three major benchmarks declining. This was after better-than-expected jobs data out in the US, raised concerns around the state of the economy and the path of interest rates. The S&P500 dropped 0.8% with all 11 industry sectors lower. Energy was down the most, while information technology was the best performer. The Dow Jones dr...

The release of the Federal Reserve’s meeting minutes sent Wall Street into sell-mode on Wednesday in this shortened trading week as investors digested the minutes including the outlook for further tightening of monetary policy. Also adding to the negative sentiment on Wall St was data released on Wednesday morning showing factory orders were weaker than expected in May. Investor sentiment may also...

It was good news for all mortgage holders on the interest rate yesterday with the RBA announcing a rate pause for July at the latest RBA meeting. The local market see-sawed before the RBA rate announcement with the nation’s cash rate remaining at 4.1% for the month of ahead. Growth in Australia’s economy has slowed, the labour market tightness has begun to show signs of easing, consumer spend is d...

Trading was positive on Wall Street overnight, as US equities closed higher, in a shortened session, that marked the start of a new trading month, quarter and half. US markets closed early ahead of the Fourth of July holiday, and they will be closed tonight as well.  The Nasdaq advanced the most, while the Dow Jones and the S&P500 closed just slightly in the green. In fact, at the end of last...

Wall Street closed higher across the key indices on Friday to round out a strong first half of 2023. Technology stocks were once again the driving force behind Friday’s rally, with Nvidia rising 3.6%, Microsoft advancing 1.6% and apple adding 2.3% higher to close above a US$3trn market cap. The Dow Jones added 0.84% on Friday, the S&P500 rose 1.23%, and the tech-heavy Nasdaq advanced 1.45%, to...

The Aussie share market rose 1.35% this week (Mon-Thu) buoyed by the tech sector surging 3.66% as investor appetite for the high growth sector continues to grow. In this week's wrap, Grady covers: (0:11) Geopolitical tensions in Russia (1:05) Volatility in commodity prices (1:54) Opportunities as an investor (2:45) The AI front (3:48) Best performing stocks in the ASX200 (4:41) The most trade...

In New York overnight, equities were higher after the large banks gained, following the Federal Reserve’s annual stress test. This is a test that ensures the large banks are capitalised and can lend to businesses and households even in a severe recession. All 23 of the US banks that were included in the Fed’s annual stress test weathered a severe recession scenario while continuing to lend to cons...

Australia’s inflation rate fell faster than expected on an annual basis in May to a rise of 5.6% in the year to May 2023, below the expected rise of 6.1% and well below April’s annual increase of 6.8%, in a major sign the RBA’s rate hikes are having a strong impact in cooling inflation down under. The most significant price rises were Housing (+8.4%), Food and non-alcoholic beverages (+7.9%), and...

The local market returned to rally mode on Tuesday closing the session up 0.56% as a near 2% rise in real estate stocks lifted the market, while materials also added over 1.15% and financials closed up 0.66%. As the cost-of-living pressures continue to bite, the flying kangaroo is flying higher than ever with demand for travel on Qantas remaining resilient as outlined by the airline yesterday in a...

Well looking at global markets overnight, US equities closed in the red, following a sell-off in technology companies, which have outperformed this year. The pullback in tech stocks saw the Nasdaq sharply drop, closing the session 1.16% lower. Meanwhile, the S&P500 fell 0.45% and the Dow slightly down 0.04%.  In Europe, markets closed mixed, with Germany’s DAX, the FTSE 100 and the STOXX 600 a...

Wall Street slid on Friday with the key indices closing lower for the week and the Nasdaq snapping an 8-week winning streak as investors shift focus to the high potential of a US and possibly global recession. The Dow Jones fell 1.7% over the week, the S&P500 lost 1.4%, and the tech-heavy Nasdaq also fell 1.4%. Inflation around the world remains elevated, and stock markets have been on a solid...

The Aussie share market fell 0.77% this week (Mon-Thu) as the recent rally for information technology stocks lost steam with the sector closing 3.13% lower over the four days. Investors bought into consumer staples stocks which are generally more likely to hold their value in a high interest rate, high inflation environment. In this week's wrap, Grady covers:  (0:34) Understanding the EV move...

European stocks closed lower overnight after the Bank of England opted for a more hawkish 50 basis point rate hike. The STOXX 600 is down 0.5%, trimming earlier losses of more than 1%. The index has posted declines in all four sessions so far this week.  US equities saw little improvement overnight as Wall Street heads for a losing week. The Nasdaq performed best as investors boosted tech stocks,...

US and European markets declined overnight, following the Federal Reserve’s Chairman’s latest comments on inflation, that weighed on the investor sentiment. Jerome Powell said that more rate hikes are likely ahead to combat inflation. US equities were flat in overnight trading, after the market suffered three consecutive days of declines, as the tech-power rally has started to fade. All three majo...

The RBA meeting minutes were released yesterday hinting at the potential for further rate hikes to come, possibly taking the nation’s cash rate to 4.60%, as the outlook for price pressures to become embedded raises concerns for the RBA especially if wages continue rising against stagnant productivity output. Stagnant productivity was a key inclusion in the RBA meeting minutes as members discussed...

The local market started the new trading week 0.6% higher, carrying the ASX rally into a 6th straight session driven by a rally for healthcare stocks, namely, CSL as investors took last week’s update-driven sell-off as an opportunity to buy into Australia’s largest biotech company on Monday. Locally, PointsBet (ASX:PBH) jumped 19% during the session after updating the market on its non-binding ind...

On Wall St, stocks closed lower on Friday but higher across the key indices for the week as investor sentiment was boosted by a rate pause out of the fed, encouraging inflation data and ongoing strength in the technology sector which saw the Nasdaq rise 3.3% for the week, marking an eight-week winning streak. The Dow Jones added nearly 1.3% for the week and the S&P500 rose 2.6% on the week. So...

The Aussie share market rose 0.74% this week (Tue-Thu) as information technology stocks rallied whilst the health care sector headed to the chopping block.  In this week's wrap, Grady covers:  (0:10) Investor sentiment (0:30) The turmoil surrounding Domino’s (ASX:DMP), CSL (ASX:CSL) & DGL (ASX:DGL) (4:05) Downgrades as the key driver of guidance revisions (5:20) Best performing stocks in...

Wall Street closed mixed on Wednesday as investors assessed favourable PPI data, and the federal reserve holding the cash rate at 5%-5.25% for another month, against the Fed signalling more rate hikes are expected in the coming months.  US producer purchasing price index data for May came in at a decline of 0.3%, beating expectations of a 0.1% drop and well below the unexpected rise of 0.2% in Apr...

The first trading session on the ASX for the shortened week ended in a positive note, with the key index closing up 0.23%, and 8 of the 11 sectors ending the day higher. Pizza giant Domino’s tumbled over 7% on Tuesday after the company said it expects sales to fall below expectations for FY23 as cost-of-living pressures continue to bite. The market may also have been led by NAB business confidence...