In US economic data, industrial production fell by 0.1% in August - the first decline since January. US Capacity utilisation fell from 79.1 to 78.8 in August. The New York Fed's Empire State general business conditions index rose from 14.69 to 27.54 in September -the highest since October 2009.
Europe's commercial real estate investment market continued its strong growth during the first half of the year with France and Germany leading the way, Property Magazine International reported, utilising a study conducted by the CBRE Group.
It was a tough day for the Australian market after the falls on Wall Street on Friday night and the weak Chinese data released on Saturday there was little hope of a strong day for the Aussie markets. By the close the All Ordinaries Index was down 1% to 5,475.4 points
The Australian share market remained under the control of the selling fraternity on Monday morning. The weakness in Europe and the US continues to cast a pall over the local picture. US stocks ended last week under pressure, leading the S&P 500 to shed just over 1 per cent over the course of the week. Similarly the ASX 200 lost 1.2 per cent during the same period.
Inflation risk is starting to creep into the psyche of US markets; the S&P just snapped out of its longest streak of weekly gains in 2014 on Friday, as all eyes turn to this Thursday's FOMC meeting.
In US economic data, retail sales rose by 0.6% in August and lifted 0.3% if autos are excluded. Both results were in line with forecasts. Consumer sentiment rose from 82.5 to 84.6 in September, above forecasts for a result near 83.3.
The price of iron ore has hit a five-year low of $82.20 per tonne, spelling more bad news for Australia's top export commodity. Price of the key steelmaking-ingredient has been on a downhill trend since Dec 4, 2013 as the benchmark price of iron ore tumbled down 41 per cent.
Embattled carrier Malaysia Airlines has barely recovered from two major tragedies four months apart when a third tragedy almost hit the airline on Saturday. MH 198 which left Hyderabad on late Saturday bound for Kuala Lumpur had to turn back because of auto pilot defect.
In a picture that was much like Thursday, sellers continued to push the ASX 200 lower over the course of the afternoon. Initially the area around 5520 for the index provided some modest support, although by mid-afternoon the area gave way and new lows were plumbed. Counter intuitively, the Materials sector was the sub index that performed the best over the last session of the week. The improvement was a combination of seller's fatigue and the anticipation of a lower Aussie dollar, which would...
The Australian sharemarket is falling for the third straight day and for the fourth time this week, with the All Ordinaries Index (XAO) down 0.4 per cent. Should nothing change dramatically this afternoon, this has been the worst week for local shares in a month. Last night a report showed there were more people filing for unemployment benefits in the US last week than expected. The DOW slipped by 0.1 per cent while the broader S&P500 ended modestly firmer.
Global equities seem to be in a holding pattern as we head into next week's FOMC meeting. Additionally resurfacing geopolitical risk from the Russia front seems to be keeping investors cautious. Perhaps the most significant development in overnight trade was further EU sanctions on Russia. The latest round of sanctions included moves like banning major Russian state-owned banks from any borrowing among other financial-related limitations.
In US economic data, jobless claims rose by 11,000 to 315,000. The treasury monthly budget statement showed a $129 billion deficit in August, in line with estimates.
The Australian sharemarket failed to recover this afternoon, with stocks falling for the second day. The All Ordinaries Index (XAO) slipped by 0.5 per cent adding to Wednesday's similar pullback. The IT sector was the only improver with share registry Computershare (CPU) rising by 1.4 per cent.
The Global Commission on Drug Policy wants to go beyond the legalisation of marijuana but would recommend on Tuesday, Sept 16, the decriminalisation and regulation of the use of most other illegal drugs such as heroin and cocaine.
The Australian market is adding to Wednesday's losses, with a sharp drop in the unemployment rate, subdued Chinese inflation and a positive lead from Wall Street not enough to inspire local markets. The All Ordinaries Index (XAO) is down 0.2 per cent, adding to Tuesday's 0.6 per cent slide. After interrupted trade across the region due to holidays, all major markets are trading normally today which is likely to see volumes return to normal.
There remains little in the way of meaningful data or macro news that would give markets a leg higher, or even lower in the case of the S&P.
A newly launched crowdfunding platform will be focusing on raising funds for non-bank lenders that provide short-term commercial property loans to small individuals and businesses looking at real estate investing, a report on Bloomberg said.
The US market's worst session in five weeks set local shares up for a tough start this morning. The All Ordinaries Index (XAO) is down 0.7 per cent, completely wiping out Tuesday's 0.5 per cent gains and pushing the index back below the key 5600pt level. US and European markets fell by around 0.5 per cent overnight; however the S&P500 is still outperforming the Australian market by 3.5 per cent this calendar year.
Equities retreated further with Apple's much anticipated iPhone 6 failing to inspire investors. Apple unveiled a range of new products but the excitement swiftly waned as the stock was sold off after having enjoyed some good gains. This wouldn't have come as a big surprise as the stock tends to fall following new product launches. Some would probably feel the pullback we are seeing this week has been coming for a while with US equities looking a bit overcooked and as the US dollar rallies ...
In US economic data, weekly chain store sales were up 4.9% on a year ago according the Redbook survey, an unchanged annual growth result on the previous week.
When investing in real estate, it is easy to dismiss some portfolio as high-risk based on the category of property or investment vehicle they belong to, and the market forces that are expected to impact them in the near future. More often than not, what matters is that investors look at each real estate asset from a "local" perspective, a Canadian portfolio manager noted in a Financial Post report.
Local shares improved this afternoon to make up for all yesterday's 0.36% falls. The All Ordinaries Index (XAO) closed up 0.4 per cent with the mining sector a standout after a tough three weeks. Traded volume was light for the second day with a number of holidays in the region and a busy tail-end of the week.Australian shares are only 1.2 per cent below the six-year highs hit in mid-August despite a tough week. Stocks in Japan, China and Taiwan managed to rise modestly today while shares in ...
There is tittle to report from overnight trade; the S&P fell from record all-time highs, which is not surprising considering the market is trading at 18.3 times last reported earnings.
The Australian sharemarket kicked off the trading week in the red, with a record close in US equities on Friday night not enough to boostlocal markets. The All Ordinaries Index (XAO) fell by 0.4 per cent and remains below 5600pts. Volume was light with only $3.6bn worth of shares traded. Public holidays in China, South Korea and Taiwan kept markets in the region quiet, with shares in Japan up 0.25 per cent, while New Zealand's NZX50 rose by 0.15 per cent.
Luxury listings curator and real estate company The Corcoran Group, has hired distinguished photographer Annie Leibovitz to photograph its portfolio for a massive ad campaign. The campaign, Live Who You Are, puts emphasis on the joys of homeownership rather than merely investing, at a time when property consumers rely more on big data in their home search endeavors, and agents tout the use of the latest listings technology to make a sale, a new report on The Financial Times said.
A few surprises in data and the political world over the weekend have seen futures and currencies falling out of bed this morning.
Until the Federal Aviation Authority releases its final rules on the use of drones, Michigan real estate photographers that use them to collect photos of listings can only marvel at the beauty of their shots and would have to hold out in publishing them online, according to a report on Michigan Live Web site.
Traders are calling the euro the gift that keeps on giving after yet another slide on the back of yesterday's meeting.
In US economic data, the Markit Services Sector PMI eased from 60.8 to 59.5 in July. The US ADP Employment survey showed an increase of 204,000 private sector jobs in August. The US trade deficit narrowed from $40.8 billion to $40.5 billion in July - a six month low. The result was driven by a 0.9% lift in exports to a record high of $198 billion in July.
Despite closing 0.4 per cent softer this afternoon, the local sharemarket ate away at the more substantial 0.6 per cent low hit at 3.30pm (AEST). The banks accounted for around a third of the losses while weaker iron ore prices kept the miners under pressure.
