Market analyst Kyle Rodda from capital.com has put out a neat note to end the day. Here is his take on the action. “It has been quite some time since something really shook the tree and caused a scare in the markets. Wall Street was tangibly due for a big down day: it was approaching...
Tag: commodities
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Live: Unemployment up slightly to 4.1pc in June
Bjorn Jarvis, the head of labour statistics for the ABS, says there are a couple of reasons behind the unemployment rate rising slightly in June to 4.1% “With employment rising by around 50,000 people and the number of unemployed growing by 10,000 people, the unemployment rate rose slightly to 4.1 per cent, and the participation...
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Live: Australian shares hit new record high after falling US inflation fuels interest rate cut speculation
Sick of ‘shrinkflation’? Tired of that $50 note evaporating the second you enter a supermarket or servo? The following yarn from Reuters may contain some promising news that these food and beverage companies have taken the price hikes too far: PepsiCo missed expectations for second-quarter revenue on Thursday as a series of price hikes and...
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Live: ASIC report fallout continues, while ASX to rise as Tesla and Nvidia push up tech indexes on Wall Street
A 20-month inquiry into the corporate watchdog was tabled yesterday. And it wasn’t pretty. In one line; ASIC’s ambit is too wide, its resourcing too low and its culture so bad that white collar crime has been allowed to go unchecked in Australia, for too long. To fix this, the report recommends splitting ASIC up,...
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Live: Live updates: Nine to axe 200 jobs, ASX trades higher
Eastern states readers are entering the final stretch of the working week (hi from the west!). If you’re reaching for that cuppa to get you through to the end of the day, here are some cool stats about the global trade in coffee and tea courtesy of S&P Global Market Intelligence. In the 2023 calendar year, 8.88...
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ASX drops as inflation climbs to 4 per cent in May, exceeding economists’ expectations — as it happened
Iron ore futures prices rose for a second straight session on Wednesday, aided by a wave of buying in the spot market in top consumer China, although gains were capped by high portside stocks and seasonally weak steel demand. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) was up 0.75% at...
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Live: Foreign buyers purchase $5b worth of residential property, ASX rises
Foreign buyers made 5,360 residential real estate purchases in Australia over the past financial year, spending $4.9 billion, according to new data from the ATO. Their average price was $914,000, according to the register of foreign ownership of residential land. Of the 5,360 purchase transactions in 2022–23, 164 registrants became a permanent resident or gained...
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Senate report into PwC scandal released, ASX lower in afternoon trade — as it happened
I’m an ag reporter in my day job, so I’ll use this platform to share a survey of primary producer business sentiment courtesy of Rabobank, which was released today: “Mixed seasonal conditions across the country – coupled with economic pressures – have seen the nation’s farm sector confidence take a U-turn in the latest quarter,...
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Live: RBA deputy governor speaks after European Central Bank joins Canada in cutting interest rates, ASX rises
The new RBA deputy governor Andrew Hauser might win a few fans from this kind of reality check delivered to a gathering populated by a lot of financial heavyweights. “We all have the same fundamental challenge, which is that inflation has been sticky on the way down, in particular services prices, inflation,” he said. “And...
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Live: Australian shares to follow Wall Street gains, Nvidia joins $3 trillion club
On July 1, stage 3 tax cuts come into effect and the Super Guarantee increases by 0.5 per cent, which makes it a good time to get to know your Super to make sure it’s working for you, says Peter Treseder from AustralianSuper. “Super can be ‘set and forget’, but it can be better if...
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Live: Information commissioner files action against Medibank over cyber attack, while ASX looking flat ahead of GDP figures
In breaking news just now… The Australian Information Commissioner has announced it has filed civil penalty proceedings in the Federal Court against Medibank over it October 2022 data breach. The Commissioner alleges that from March 2021 to October 2022, Medibank seriously interfered with the privacy of 9.7 million Australians by failing to take reasonable steps...
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Live: Guzman y Gomez announces IPO and ASX listing, share market rises
Donald Trump has been found guilty of a hush-money plot to influence the 2016 election, but still could theoretically run for US President. Whoever wins the US presidential election in November will have to navigate economic challenges and the independence of the US Federal Reserve. The former President has repeatedly said that if he is...
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