Trader Peter Tuchman wears a "Dow 18,000" cap as he works on the floor of the New York Stock Exchange in New York, December 23, 2014. U.S. stocks advanced on Tuesday, as the Dow climbed above the 18,000 mark for the first time in history and the
Trader Peter Tuchman wears a "Dow 18,000" cap as he works on the floor of the New York Stock Exchange in New York, December 23, 2014. U.S. stocks advanced on Tuesday, as the Dow climbed above the 18,000 mark for the first time in history and the S
  • Losses almost doubled on the Australian market this afternoon with the ASX 200 Index slumping by 0.6 per cent. The mining sector's gains were wiped out in late trade with only the defensive telcos and consumer staples managing to rise modestly.
  • Energy stocks were hit hardest today with the industry slipping by 1.7 per cent and ~6.5 per cent this week. The price of oil slumped by 4.6 per cent last night to US$46.2/barrel.
  • Energy stocks were hit hardest today with the industry slipping by 1.7 per cent and ~6.5 per cent this week. The price of oil slumped by 4.6 per cent last night to US$46.2/barrel.
  • The world's largest oil services company, US based Schlumberger announced 9,000 job cuts of its 130,000 strong workforce due to the halving in the oil price over six months and an 82 per cent slump in quarterly profit.
  • CSL shares slumped by 3.8 per cent today following the Swiss National Bank's decision to scrap its three year policy of capping the Swiss franc against the Euro. This decision resulted in a 16 per cent surge in the Swiss franc (CHF). With a large portion of CSL's manufacturing done in Switzerland the currency appreciation has suddenly made its product more expensive in USD terms.
  • Telstra (TLS) shares finished 0.3 per cent firmer by the close of trade. Earlier in the day the telco hit a 13.5 year high of $6.28 per share and rose by 2.5 per cent over the past five sessions.
  • ANZ Banking Group (ANZ) has been in focus over the past few days following changes made to its interest rate forecasts on Thursday and the release of important upcoming dates. ANZ will be providing a trading update to the market on 17 February, half year earnings on 5 May and trades ex-dividend on 8 May. ANZ now expects two interest rate cuts in the first half of 2015.
  • No major economic data was released in Australia or the region today.
  • Volume picked up this afternoon with 1.6bn shares traded worth $4.9bn. 369 stocks rose, 530 fell and 335 finished unchanged.
  • Tonight will be busy in the US with consumer inflation, industrial production and consumer sentiment out by 2am (AEDT). US markets will trade normally tonight but will be closed for the Martin Luther King Jr holiday on Monday.

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