Overnight: Reality Bites
As three north-eastern US states introduce mandatory quarantine for visiting southerners, Wall Street has finally woken up to the ongoing virus threat. Dow down -710.
Read MoreAs three north-eastern US states introduce mandatory quarantine for visiting southerners, Wall Street has finally woken up to the ongoing virus threat. Dow down -710.
Read MoreUS sharemarkets fell 2.0-2.5% on Wednesday on fears that a lift in virus cases in many states could see re-imposition of restrictions on travel and business operations. The Dow Jones index lost 710 points or 2.7%. The S&P500 index fell by 2.6%. The Nasdaq index was lower by 222 points or 2.2%.
Read MoreWall Street finally woke up to the dangers posed by the continuing surge in coronavirus cases in the United States and sold off heavily, aided by forecasts that the US economy is in worse shape than thought.
Read MoreThe Australian sharemarket has managed to extend its winning streak to four days even though it was a choppy session. Gains from gold and healthcare stocks pushed the market higher.
Read More2020 has been an extremely volatile year so far in terms of the global financial markets. It was noted by The Guardian that 29 years of economic growth in Australia had stalled, with over one million people losing their jobs, and the GDP shrinking by 0.3% in the first quarter alone.
Read MoreThe Australian market is slightly lower at lunch despite a better start which was putting local equities on a four-day winning streak. Weakness from the banks, energy and property stocks together with travel companies is weighing on our market.
Read MoreDespite some trade confusion, Big Tech marches steadily on. Dow up 131.
Read MoreUS sharemarkets rose on Tuesday on assurances from President Trump about the US-China trade deal and speculation that the US Congress will seek additional stimulus to bolster the economy.
Read MoreAfternoon trading was far calmer for the ASX 200 after comments earlier in the day from a top US trade advisor alluding to the US-China trade deal being ‘over’ sent shock waves through global markets. Once it was clarified that the deal remained intact, the benchmark index recovered to a modest gain.
Read MoreIt was a frenetic morning for markets including our own ASX with investors reacting initially to comments from the US Trump Administration that the trade deal with China was ‘over’. That has since been clarified with markets recovering after the comments were said to be taken out of context.
Read MoreThe Nasdaq hit another new all-time high last night. Dow up 153.
Read MoreInvestors continued to bet on the economic reopening and central bank support, despite a surge in new COVID-19 cases in the US South and Southwest. White House economic adviser Larry Kudlow told CNBC that there was no second wave of the pandemic.
Read MoreIt was another day of choppy trade as investors remain cautious of lifting COVID-19 infection rates in parts of the US, China and now Victoria. The ASX 200 swung between gains and losses before settling mostly flat, with a gain of just 2 points.
Read MoreThe Aussie market is recovering from a sharp drop on the open with the ASX 200 hovering around the flat line at midday. Concerns are lingering about a spike in new COVID19 cases in parts of the US, China and now Victoria.
Read MoreEarlier in the session the Dow Jones index gained 371 points on Bloomberg reports that China plans to increase purchases of American farm goods following talks in Hawaii this week. But increasing concerns about record COVID-19 cases in Florida and Arizona pushed shares lower with Apple (- 0.6%) re-closing 11 US stores. Volatility was heightened as equity options and futures on indexes expired. The Dow Jones index closed lower by 208 points or 0.8%. The S&P500 index fell 0.6%. The Nasdaq index was up by just 3 points. For the week, the Dow Jones gained 1%, the S&P 500 rose by 1.8% and the Nasdaq was up 3.7%.
Read MoreThe Australian market is looking at a sharp fall when trading resumes this morning after a nasty fall on Friday night in the ASX 24 futures.
Read MoreWall Street could be heading for a turning point as concerns about the rise in COVID-19 cases continues to undermine confidence. Still markets ended the week higher as ongoing signs of economic recovery and stimulus measures helped offset concerns those concerns about “second wave” of coronavirus cases.
Read MoreThe coming week will see more COVID-19 cases and warnings, updates of manufacturing and service sector activity and a number of central bank decisions as well as US inflation data for May.
Read MoreThe Australian sharemarket rose by just 0.1% on Friday (up 1.2% this morning). Losses from the banks and miners held equities back in what was a solid week for shares (up 1.6%).
Read MoreThe Australian sharemarket has recouped Thursday’s losses with almost all sectors higher at lunch. Retailers Adairs (ADH) and Nick Scali (NCK) are surging on solid sales.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreWall Street saw another meandering session with no result last night, as direction continues to prove elusive. Dow down -39.
Read MoreInvestors weighed the latest US economic data against reports of fresh outbreaks of the virus. The 58,000 weekly drop in unemployment claims was the smallest since claims began to retreat in early April.
Read MoreWhile the Australian sharemarket fell by 0.9% on Thursday, it improved from this morning’s lows (down 1.7% at 11:35am AEST) despite the unemployment rate lifting to a 19-year high of 7.1%.
Read MoreThe Australian sharemarket snapped two days of gains with a decline of 1.5%. Almost all sectors are losing ground, with a bigger than expected decline in employment pushing equities and the dollar lower.
Read MoreA serious second wave of coronavirus cases in major developed countries is the biggest risk facing equity markets, and one investors will need to watch closely.
Read MoreWall Street is beginning to waiver, as the case-count rises in the US and China, the Fed continues to play down the recovery, and another famous investor calls the market “crazy”. Dow down -170.
Read MoreWhile blue-chip stocks fell from session highs, technology shares out-performed. Investors were concerned about a lift in virus cases in some US states and in Beijing.
Read MoreThe relief rally in global equity markets faded on Wednesday as fresh coronavirus outbreaks in the US undermined hopes for a strong economic rebound and a quick vaccine against the virus disappeared
Read MoreInvestors were a little more cautious today after yesterday’s big rally. The ASX 200 ended a choppy day’s trade higher by 49.5pts or 0.83% to 5,991 to close at the best levels of the session. Most sectors improved as more defensive sectors outperformed with consumer staples and healthcare among the big advances.
Read MoreAs we move toward the close of a stunning financial year (for most companies), the sharemarket is bracing for a shocking reporting season. James Dunn takes a closer look at what we can expect.
Read MoreThe ASX 200 is having a hard time deciding where to go as it swings between small gains and losses in the first few hours of trade. Losses for the banks, miners and energy stocks have kept a lid on the market.
Read MoreA record jump in retail sales increased investor optimism about the US economic recovery. US Federal Reserve Chairman Jerome Powell said the US economy may be bottoming out in his semi-annual testimony to US Congress.
Read MoreWall Street shot out of the blocks last night on various pieces of news, but spent all session stumbling lower. Dow up 526.
Read MoreThe ASX is heading for a far more modest gain today than what we saw on Tuesday despite another solid day for Wall Street and other markets.
Read MoreThe Aussie market has enjoyed a sharp turnaround from recent losses with the ASX 200 lifting for the first time since last Wednesday. The index jumped 222 points or 3.9% to 5,942 as markets globally rallied on further stimulus talk out of the US, even as coronavirus cases rise in parts of the US & China.
Read MoreThe Aussie market is looking to snap its three day losing streak with a major comeback. At lunch, the ASX 200 is up by 3% with nearly every stock in the index improving. Leading the rebound are tech, banks, energy and retailing names.
Read MoreWe continue to unearth small-cap companies as part of our Hidden Gems webinar series. Catch up on the most recent edition featuring Anteris Technologies, Calima Energy, Xantippe Resources, and Oneview.
Read MoreWhile local investors are unfamiliar with psychedelic therapy, this is likely to change given the burgeoning interest in North America, where no fewer than 20 companies are actively involved in the field.
Read MoreWall Street had already spun from an opening plunge last night before the Fed jumped in with even more stimulus. Dow up 157.
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