Market Updates

US equity markets finished lower overnight, in a broad sell-off after Moody’s cut the credit ratings of 10-small to mid-sized US banks, reigniting fears about the health of the US banks and the economy. The Dow Jones closed 159 points lower (-0.45%), well off worst levels. Dow down 466 points at worst. S&P 500 dipped 0.42%, and the NASDAQ lost 0.79%. After a five-month rally this year, the S&a...

ASX 200closed flat, up 2 points to 7311 (+-%), losing early morning gains, with mining and financials balancing the market. Iron ore giants were mixed FMG up 0.4%, BHP down 0.6%, and RIO off 0.4%. Goldman predicts a fall in iron ore prices this year. Iron ore futures in Singapore have fallen 11.6% from its cyclical high last month. The “big four” banks were mixed CBA and NAB in the green while ANZ...

All three major US indexes closed higher on Monday, rebounding from their worst weekly fall since March, and ending near best levels, as investors position themselves ahead of Thursday’s CPI report due this week. Dow Jones saw its biggest advance in more than seven weeks, up 408 points (+1.16%). Dow at best up 432 points. S&P 500 halted a four-day drop, up 0.90%, and the NASDAQ gained 0.61%. T...

ASX 200 drifted 16 points lower to 7309 (-0.2%) as iron ore miners and banks wallowed. WBC and ANZ, the worst performers ahead of CBA numbers Wednesday. The Big Bank Basket down to $176.94 (-0.2%). Insurers slid with QBE off 1.8% and SUN dropping 2.6%. MQG slightly firmer up 0.4% and GQG up 4.5% on better FUM numbers . GMG led the REITs bouncing as bond yields came under pressure, SCG up 1.1% and...

US markets concluded the week with losses all round as the latest batch of corporate earnings reports and new job statistics dampened market sentiment. The Dow Jones declined by 150 points (-0.43%). At its best, the Dow was up by 291 points, while at its worst, it was down 182. The S&P 500 and the NASDAQ experienced drops of 0.53% and 0.36%, respectively. These declines were primarily influenc...

ASX 200 closed up 14 points to 7325 in a late surge. For the week the index dropped 1.1%. Banks held steady despite the ACCC knocking back the ANZ / SUN deal, The Big Bank Basket relatively unchanged at $177.25. MQG was slightly better up 0.8%, but REITs hit hard once again as 10-year yields continued to rise. Defensive healthcare stocks under pressure. CSL down 0.7% and RMD tumbled 9.3% after dis...

All three major US Indexes finished lower overnight after a choppy trading session as US bond yields hit nine-month highs and the dollar dipped following a US credit downgrade. Dow Jones fell 67 points (-0.19%). Dow at best up 66 points. Dow at worst down 160 points. S&P 500 posted its third straight decline, down 0.25% on track to break four-straight weekly gains. Tech under pressure as their...

ASX 200 closed down 43 points to 7312 (-0.6%), sliding for a second straight session, tracking losses on Wall Street overnight. Tech led the laggards today, XRO -2.7%, REA -0.8% SQ2 -1.9%. All-Tech index down 1.0%. Iron ore miners slipped, tracking the softening price in Asia. BHP down 1.2%, RIO off 1.7% and FMG down 1.3%. Big four banks are all down. CBA -1.0%, NAB -0.6%, ANZ -0.4% and NAB -0.6%....

US markets were lower overnight, ending near worst levels, following hot labour market data and a ramp-up in treasury issuance just a day after a US credit downgrade by Fitch. Dow Jones down 348 points (-0.98%). Dow at worst down 404 points. S&P 500 notched its worst day since April, down 1.38%. Tech-heavy NASDAQ off 2.17%, its worst day in five months. Wall Street’s “Fear Guage” the VIX climb...

Blood on the streets in the ASX 200 today, the market closed down 96 to 7355 (-1.3%) in a broad market sell-off, losing yesterday’s gains and then some as heavyweight banking and mining stocks weighed. All sectors finished in the red today. Iron ore giants BHP , RIO and FMG all lost over 1% each. Gold stocks not so golden today, NST and NCM down 2.7% and 0.7%, respectively. Lithium stocks sad, LKE...

Wall Street closed mostly lower overnight in an uneventful session as the latest slew of corporate results came in mixed. The Dow Jones rose 71 points (+0.20%). Up 120 at best. Down 33 at worst. Meanwhile, the S&P 500 and NASDAQ dipped by 0.27% and 0.43%, respectively. US treasury yields rose, with the 30Y paper touching a new year high. Conversely, gold prices fell, weighed down by a stronger...

ASX 200 up 40 points to 7451 (+0.5%) as shares rallied slightly further in the afternoon after the RBA announced it was leaving the cash rate unchanged. The Aussie dollar fell 0.8%  to 66.66c, and bond yields took a hit. 2Y and 10Y bond yields fell 9bps and 8bps, respectively. Gold miners were golden today thanks to Lowe, NCM up 1.4%, EVN up 2.4% and NST +1.6%. Major iron ore miners rose following...

US equities finished in the green overnight on July’s last trading day, closing near best levels. Dow Jones up 100 points (+0.28%). Up 108 points at best. Down 29 points at worst. S&P 500 and NASDAQ added 0.15% and 0.21%, respectively. All three major indexes ended with gains for the month, Dow +3.32%, and the S&P 500 and NASDAQ jumped 2.9% and +3.8% marking the fifth positive month in a r...

ASX 200 closed up 7 points to 7410 (-0.1%) in a narrow day of trading, boosted by a lower US inflation rate. Resources mixed after China’s manufacturing activity shrank for a fourth month this year . Iron ore miners slightly higher S32 up 0.8%, BHP up 0.5% and RIO up 0.4%. Energy continuing its bull run as Crude Oil has its best month in more than a year. STO up 0.3% and ALD up 1.2% Gold lower aga...

The Dow Jones gained 177 points (+0.5%), ending the week on a win. At its best, the Dow was up by 283 points, while at its worst, it was up 72 points. The S&P 500 also saw an increase of 0.99%, while the NASDAQ rose 1.9% as US reporting season continued. The USD Index slipped on price data showing moderation in annual US inflation. VIX was down 7.7%, and Gold bounced up 0.72%. Roku surged 31.4...

US stocks ended lower overnight, ending near worst levels as strong economic data showed the resilience of the economy, paving the way for the Fed to continue its tightening cycle. Dow down 237 points (-0.67%), snapping 13 straight sessions of gains dragged down by Microsoft -2.09% and Visa -1.12%. Dow at best up 125 points. Dow at worst down 304. Meanwhile, the S&P 500 fell 0.64%, and the NAS...

ASX 200 closed up 54 points to 7456 (+0.7%), a five-month high rebounding after an initial dip at the opening bell and now up 1.79% for the week. Tech stocks led the charge today bucking the trend and moving in tandem with the Nasdaq futures on Meta results. All-Tech Index up 2.1% and SQ2 rose 1.8% and XRO up 2.1%, Consumer discretionary enjoyed a boost, WES +1.6%, JBH +3.2% and ADH gained 10.7%....

US equity markets closed mixed following the Fed’s decision to raise rates by 25bps as investors assess the latest comments from Fed chair Powell. The Dow Jones seesawed but ended higher, up 82 points (+0.23%) for the 13th straight session, tying the record set in January 1987. Dow at best up 196 points. Dow at worst down 132 points. S&P 500 was flat, down 0.02%, and the NASDAQ fell 0.12%. US...

ASX 200closed up 62 points to 7402 (+0.9%), hitting a five-month high, while the Aussie dollar and bond yields fell on softer-then-expected inflation data reducing pressure on the RBA to tighten policy further. Miners continued their rally today on China’s stimulus pledge, sector majors BHP up 2.3%, RIO gained 1.4% and FMG up 2.3%. Banks up today, recovering yesterday’s losses, with the big four a...

Wall Street closed higher overnight, led by the NASDAQ amid excitement about AI before earnings reports from tech mega-cap companies Google and Microsoft after the bell. Dow Jones finished 27 points higher (+0.08%), marking its longest winning streak in more than six years and the 12th consecutive session of gains just shy of the all-time record of 13 set in 1987. Dow at worst down 46 points. Dow...

  ASX 200 closed up 33 points to 7340 (+0.5%), snapping a two-day decline, led by miners and energy stocks, although investors exercised caution ahead of local quarterly CPI results and FOMC meeting both due on Wednesday. Iron ore miners led the advance, sector majors BHP , RIO and FMG up 3.3%, 3.4% and 4.6%, respectively. Energy stocks rose as oil prices extended gains, with WTI crude futures hov...

The Dow Jones led US markets higher overnight and notched its 11th straight session of gains, its longest winning streak in six years. Dow Jones up 184 points (+0.52%). Dow at best up 236 points. S&P 500 added 0.4% and the NASDAQ lagged the other indexes up 0.19% as the market looked for non-tech stocks for bargains, lifting energy and bank sectors. 10Y US bond yields closed higher up 3.9bps,...

ASX finished down 8 points to 7306 (-0.1%) in a subdued day of trading ahead of CPI release on Wednesday, with forecasts of a further decline in inflation MoM. Energy the biggest gainer as Crude continues to gain, WDS and STO both gaining 2.3% and 2.2%. Banks continuing to ease off from last week, while MQG gained 0.4% ahead of AGM on Wednesday. The Big Bank Basket fell to $179.2 (-0.2%) with CBA...

The Dow Jones managed to inch higher, gaining 3 points (0.01%), marking its tenth consecutive day of advances and its longest rally in nearly six years. At its best, the Dow was up by 115 points, while at its worst, it faced a decline of 39 points. The S&P 500 saw a minor increase of 0.03%, while the NASDAQ suffered a 0.22% loss ahead of the Nasdaq 100 rebalance scheduled for Monday's mar...

ASX finishes the week down 11 points at 7314 (-0.15%) for 11-point rise for the week. Narrow range again. Low volumes. Once again, some bifurcation with banks now in focus, slipping on some profit-taking. The Big Bank Basket fell to $179.59 (-0.6%) with CBA down 0.7% and ANZ off 0.8%. MQG slipping 1.4% ahead of AGM next week. Insurers better with QBE up 1.4% and SUN up 0.7%. Money managers mixed....