Lunch Report: Aussie Market Lifts For 4th Day
The Australian sharemarket is up for a fourth day and has hit a fresh one-month high thanks to a strong lead from Wall Street and broad gains across the local Bourse.
Read MoreThe Australian sharemarket is up for a fourth day and has hit a fresh one-month high thanks to a strong lead from Wall Street and broad gains across the local Bourse.
Read MoreTrump unleashed a Twitter storm last night implying he’s ready to approve a range of targeted individual stimulus packages. Dow up 530.
Read MoreUS President Trump encouraged Congress to pass a series of standalone fiscal stimulus bills including support for the airlines. The Dow Jones airlines index rose by 3.5%. Investors digested minutes from the last Federal Reserve meeting. And investors await today’s Vice Presidential debate. The Dow Jones index ended higher by 531 points or 1.9%. The S&P500 index lifted 1.7% and the Nasdaq index gained 210 points or 1.9%.
Read MoreWall Street rose on Wednesday, reversing Tuesday’s late slide on suggestions President Trump had changed course on the question of a new stimulus deal before the November 3 elections.
Read MoreThe labour market continues its slow gains from the depths of the recession and even locked down Victoria is starting to improve. On Wednesday the Australian Bureau of Statistics (ABS) revealed that payroll jobs rose by 0.3% over the two weeks to September 19 compared with a 0.5% contraction in the prior fortnight.
Read MoreIf the 2020-21 budget is, as the Morrison government says it is, all about jobs, what are the chances of the ambitious targets being met? Well, a bit rubbery at the moment and you only have to look at our most recent performance in the area to get an understanding of how tough the next couple of years are going to be in repairing the broken jobs market.
Read MoreThe ASX 200 index closed towards the best levels of the day, rallying 7pts or 1.2% to 6,036.
Read MoreShares of Amazon.com, Google parent Alphabet, Facebook, and Apple fell Tuesday as a report emerged that a US House subcommittee that has investigated anticompetitive business practices for more than a year would recommend splitting them up and limiting the scope of their future acquisitions.
Read MoreThe Australian sharemarket is improving for a third day despite President Trump tweeting his intention to halt stimulus negotiations until after the November election.
Read MoreAustralia has announced its biggest stimulus-driven deficit in history, while Trump has shut down any further stimulus negotiations in the US. Dow down -375.
Read MoreUS sharemarkets fell in afternoon trade after US President Trump stopped talks on a fiscal stimulus package. The Dow Jones index ended lower by 376 points or 1.3%. The S&P500 index lost 1.4% and the Nasdaq index fell by 178 points or 1.6%.
Read MoreNo rate cut from the Reserve Bank yesterday – thwarting a growing list of economists, analysts, and others who thought there would be one. In fact, two out of three economists in various polls thought there would be a rate cut on the eve of the 2020-21 budget.
Read MoreWall Street fell sharply in the final hour of trading after President Trump ended talks with the Democrats on a new stimulus bill.
Read MoreAlmost all companies, bar the mining giants or the likes of CSL will be able to immediately write off the full value of eligible assets purchased. The initiative targets small, medium, and larger businesses with a turnover of up to $5 billion until June 2022.
Read MoreThe budget is clearly a pro-business, pro employment document, containing $98 billion in new spending, including $50 million in tax relief for business and low-and-middle-income earners.
Read MoreThe Australian sharemarket rose by 0.35% on Tuesday ahead of tonight’s Federal Budget, some uncertainty remaining about President Trump’s condition and a massive lift for equities on Monday.
Read MoreThe Australian sharemarket is easing at lunch as it consolidates on yesterday’s outsized gains.
Read MoreShares jumped after US President Trump said that he will be discharged from hospital on Monday evening after being treated for COVID-19. The Dow Jones index rose by 465 points or 1.7%. The S&P500 index gained 1.8% and the Nasdaq index climbed 2.3%.
Read MoreIs the president’s apparently rapid recovery indicative of the medical advancement in the battle against covid? Dow up 465.
Read MoreWall Street bounced higher on Monday, recovering from last Friday’s slide, as investors talked up the chances of more stimulus spending and news that President Donald Trump will leave the hospital where he is being treated for coronavirus.
Read MoreOn the eve of the tonight’s delayed 2020-21 federal budget and a key Reserve Bank monetary policy board meeting this morning, the National Australia Bank’s monthly survey of Australian business conditions and confidence has shown another improvement as the economy staggers back towards pre-COVID-levels.
Read MoreA big, big week in Australia (see separate story), a big, big week in the US with President Trump’s COVID-19 infection and more cases hitting his re-election teams and markets suddenly more jumpy than they have been in the past month, when they weakened on fears of COVID -19 and a sagging pace of recovery from the slump.
Read MoreThe delayed 2020-21 budget is expected to be big on spending and economic reforms but light on issues that might be too divisive politically and deflect the thrust of fiscal policy to support demand in the economy and start the reduction in the level of unemployment.
Read MoreUpbeat investors sent ASX 200 futures higher on Friday night despite Wall Street weakening on the news President Trump and his wife had tested positive to COVID-19.
Read MoreThe Australian sharemarket slumped by 1.4% Friday on news that President Trump and the First Lady tested positive for COVID-19. Worst week since mid-April for local stocks.
Read MoreThe Australian sharemarket has wiped out most of Thursday’s gains, with the ASX 200 down by 0.9%. Losses from miners, healthcare stocks and banks are weighing most.
Read MoreThe US election has significant potential to add to volatility in investment markets. A Trump victory will mean more of the same and would likely initially be more positive for US than global and Australian shares. By contrast a Biden victory may add to short-term volatility but this is likely to be short-lived as there is no reason to expect a weaker economy and hence share market under a Biden presidency and he is likely to take a less disruptive approach to trade and foreign policy.
Read MorePelosi and Mnuchin have again failed to reach a deal on a second round of US stimulus, having held a meeting on Wednesday and two on Thursday. But fear not, talks will continue.
Read MoreShares fluctuated as the White House countered House Democrats’ US$2.2 trillion fiscal stimulus package with a US$1.5 trillion-plus proposal, to include a US$20 billion aid extension for airlines.
Read MoreTalks are continuing in Washington, but there’s still no breakthrough on a stimulus package. Dow up 35.
Read MoreThe ASX is heading for a nasty loss at the opening this morning after Wall Street bounced and bumped its way lower. In fact trading on Wall Street ran out of puff – for the Dow and S&P 500 at least while the tech-heavy Nasdaq notched up a solid but unconvincing gain.
Read MoreJust as Wednesday’s 5% jump in iron ore prices surprised commodity investors, especially in Australia, how will they view a sharp fall in copper on Thursday that came out of the blue?
Read MoreAmerica’s big banks obviously can’t be trusted not to waste valuable capital in the time of the coronavirus pandemic with the US Fed extending its ban on buybacks and curbs on dividends from September 30 until December 31.
Read MoreThe Australian sharemarket rose by 1% on Thursday, with all sectors and eight in every 10 companies lifting following a more significant 2.3% tumble on Wednesday.
Read MoreThe Australian sharemarket is lifting by 1.3% at lunch, following a more significant 2.3% slump on Wednesday. While all sectors are lifting, mining companies are standing out thanks to firmer commodity prices.
Read MoreInvestors were encouraged by firm economic data. Also Treasury Secretary Steven Mnuchin said he thought Democrats and Republicans could “reach a reasonable compromise” on a new stimulus bill. Shares in Moderna rose 0.3% after earlier being up 3.1% after it said that its trial COVID-19 vaccine produced encouraging results. The Dow Jones index rose by 329 points or 1.2% after earlier being up by 573 points. The S&P500 index was higher by 0.8% and the Nasdaq index rose by 82 points or 0.7%.
Read MoreThe “debate” was a hot topic last night but more importantly the stimulus situation remains fluid as phase one expires. Dow up 329.
Read MoreWall Street ended September and the quarter higher on the day, lower on the month, but with solid gains for the three months and will look to try and start afresh today.
Read MoreWednesday’s slide took the ASX’s monthly loss for September to 4% and not only ended the big rally from the depths of the COVID-19 slump in late March but ushered in the start of what will be a grinding bear market.
Read MoreThe Australian sharemarket slumped by 2.3% on Wednesday, which was more than enough to push the local bourse lower in September and the past quarter. Stocks slumped following a chaotic US Presidential debate.
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