Between the Bells

The ASX’s rally extended into the midweek session with the key index closing 1.74% higher today, buoyed by another surge in technology stocks. The only sector to end today’s session lower was consumer staples stocks, which ended the day down just 0.04%. The big four banks rallied today after all four passed on the RBA’s latest 0.25% rate hike to customers on a variable interest rate loan. CBA also...

Taking a look at global markets, overnight in the US the three key indices are trading sharply higher just after midday in the US with a few more hours of trade left for Tuesday’s session. The Dow Jones, Nasdaq and S&P500 are each up over 2% today so far. Job Openings in the US fell 10% in August which is a sign the tight labour market is starting to cool. In the UK, the FTSE100 jumped 2.57% o...

A good day on the ASX today with the local market soaring on the back of the global rally overnight and of course the RBA’s surprise interest rate hike of just 0.25% or 25 basis points which was below the expected 0.5% rise markets were anticipating. RBA treasurer Jim Chalmers said despite the rate hike being less than expected, the 25 basis rate rise won’t make it much easier for Australians. In...

The US Market has started the new month and quarter on an upbeat note as weaker than expected manufacturing data prompted investors to rethink how aggressive the Fed’s upcoming interest rate hikes will be as the economy is starting to show small signs of slowing. The Dow Jones industrial Index posted the biggest gain of 2.66% at the Closing Bell, while the tech-heavy Nasdaq closed 2.3% higher, and...

The Australian market see-sawed between positive and negative territory today before closing the first trading session of the week down 0.27%, as a sharp sell-off in technology stocks weighed on the key index amid rising global recession fears among investors. The energy sector was boosted today by an increase in oil prices as OPC+ considers cutting oil production.  The stocks that led the market...

The local market’s rally on Thursday was short lived with the key index closing Friday’s session down 1.23%, down 1.53% for the week, and plunged 7.5% for the month of September amid the global sell-off as recession fears mount in the US. Several policy makers spoke late last week signalling further rate hikes are required for the foreseeable future to cool inflation into the target range. Nine of...

Investors are steering clear of the real estate sector around the world. Locally, the Aussie share market declined 0.3% this week (Mon-Thu), despite the rally later in the week. Energy stocks took a hit as commodity prices plunged with many seeing a buying opportunity.  In this week's wrap, Grady covers: (0:13) What happened to REIT stocks this week (2:59) The ASX dipping to a three-month low...

As recession fears continue, there was a broad market sell-off overnight. In the US, the sell-off was led by Apple, which dropped after a major investment bank downgraded the tech giant. This saw the Nasdaq tumble 2.8%, while the Dow Jones dropped 1.5% and the S&P500 closed with a new low for the year, down 2.1%. The major averages are on track for a losing week and a month of losses, with the...

The local market followed the global overnight rally to close the second last trading session of the week up 1.44%, driven by a surge in energy and materials stocks. Every sector of the local market closed in positive territory today as investor sentiment both locally and globally is boosted by the Bank of England’s promise to buy $65bn pounds of sterling bonds to stabilise the UK’s bond market. E...

  The Australian market reversed early gains on Wednesday to close the midweek session 0.5% lower, as investor concerns over the RBA further tightening Australia’s monetary policy were enhanced after stronger-than-expected retail sales were reported for August, up 0.6% to $34.88 billion. The higher-than-expected retail sales support the case for the RBA to raise interest rates by another 0.5% at t...

US markets were mixed overnight following a number of Federal Reserve policymaker speeches showing an increased appetite for further rate hikes even at the risk of throwing the economy into a recession. The Dow Jones industrial index ended the session down 0.43% and the S&P500 lost 0.21% to hit a two-year low, but the tech-heavy Nasdaq posted a gain of 0.25%. Over in London, stocks on the FTSE...

The local market took no lead from Wall Street’s overnight sell-off, as the ASX closed Tuesday’s session 0.41% higher, led by a rally for materials stocks, which boosted the key index to a positive close. Oil and gas giant Santos (ASX:STO) today announced it received a binding conditional offer from Papua New Guinea’s national oil and gas company, Kumul Petroleum to acquire an additional 5% projec...

Trading overnight was quite volatile for the first session of the week in New York. US equities were sold off towards the end of the day and all three major averages closes in the red. The Dow Jones fell into bear market territory, down 1.1%. It’s down approximately 20% from its closing high on the 4th of January. The S&P500 notches a new closing low for 2022, declining 1.03% to 3,655; that’s...

The Australian market dipped to a 3-month low during today’s session amid global recession fears, oil prices diving and the US dollar surging to a fresh-peak. The ASX200 closed the first trading session of the week down 1.6%. The ASX was also sold-off as the UK pound nosedived to a new record low US$1.035 on the promise of new tax cuts in the UK’s mini-budget as investors fear a surge in governmen...

The Australian market closed Friday’s session sharply lower, down 1.87% with all 11-sectors of the index closing in negative territory, following the Fed’s latest interest rate hike in the US causing investors to flee stocks in favour of cash in markets around the world. The riskier sectors such as consumer discretionary and tech stocks took the biggest hit on Friday, with those two sectors closin...

US equities closed in the red for the third straight day, as mounting fears that the Federal Reserve’s aggressive rate hikes will push the economy into a recession. The session put the major averages on pace to close the week with losses. The Dow Jones closed 0.35% lower, the S&P500 down 0.8% and the Nasdaq down 1.4%. Investors have been selling stocks following another rate hike from the Fed...

The local market dipped to a two-month low during today’s session before closing the day down 1.56% at a new 20-day low of 6700.20 points. The key index was weighed down by the materials, real estate and utilities sectors each falling more than 2% today, however every sector ended the midweek session in negative territory as investor sentiment was dampened by the global market sell-off overnight a...

Taking a look at the markets overnight, in the US it was a choppy session that ended lower across the key indices as investor confidence slumped ahead of the release of the Fed’s interest rate decision out on Wednesday US time, Thursday our time – the Dow Jones closed Tuesday’s session 1.65% lower, the S&P500 lost 1.62% and the tech-heavy Nasdaq shed almost 1.5%. US housing momentum also fell...

The local market recovered from the recent inflation-related sell-off today, sharply rising 1.29% to close the session in positive territory, driven by a surge in energy, materials and utilities stocks today amid the rising price of commodities. Crude was up 0.34% today and natural gas rose 1.6%.  The story of the day was IDP Education (ASX:IEL) entering a binding agreement to acquire 100% of stud...

The three US benchmarks closed higher to start the new trading week ahead of the Federal Reserve’s two-day policy meeting set to kick off on Tuesday. The Dow Jones jumped nearly 200 points and the S&P500 and Nasdaq both closed around 0.7% higher. Yields also pushed higher. The 10-year Treasury yield hit as high as 3.51%, its highest level in 11 years. Across the sea in Europe, markets closed m...

The local market see-sawed throughout the first trading session of the week before closing the day down 0.28%, led by a sell-off in utilities and tech stocks, while real estate stocks recovered some losses from Friday’s sharp sell-off. Looking at the best performing stocks today, Lake Resources (ASX:LKE) recovered some of last week’s losses to close 12.37% higher today after the lithium miner rele...

The Australian market closed sharply lower on Friday, down 1.52% as inflation panic set in causing investor confidence to tumble. Friday’s session was weighed down by a sharp sell-off in energy and materials stocks, but every sector closed the day in negative territory. The winning stocks on Friday were the Star Entertainment Group (ASX:SGR), which jumped 5.07% higher on ASX, Computershare (ASX:CP...

The Aussie share market declined 0.74% this week (Mon-Thu), as investors fear more aggressive rate hikes. US inflation data for August came in at 8.3%, above market expectations.     In this week's wrap, Grady covers: (0:08) The latest US inflation reading (0:54) Two FMCG stocks Bell Potter has its eye on (3:18) Why investors are embracing cash ETFs (4:00) Material stocks advancing despite ma...

Our local market closed with a 0.2% gain yesterday, with energy and financials advancing the most.  On the prospect of the first strike by American railroad workers in 30 years, ASX coal producer’s rallied, lifting the energy sector higher. Coal stocks were the best performers, including Coronado Global Resources (ASX:CRN), New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC). Meanwhile, L...

US inflation came in hotter than expected this week, with consumer prices rising 8.3% year-over-year in August. However, what was even more concerning than the headline figure was the core inflation measure excluding volatile food and energy prices, which accelerated from 5.9% in July to 6.3% in August. Now, the interest rate futures responded to the inflation readings by pricing out any probabili...