- Norfolk reiterate earnings guidance at AGM- Update highlights the resilience of group earnings- Moelis sees value, retains a Buy ratingBy Chris ShawNorfolk Group ((NFK)) provides integrated electrical, communications, heating and air conditioning and fire protection services, management concentrat...
US jobless claims (new claims for unemployment insurance) fell by 1,000 to 400,000 in the latest week. Economists had tipped a reading around 405,000. The four-week average has fallen to the lowest levels in over four months.
The Australian dollar has sunk to 5 week lows as risk aversion grappled the markets on Thursday, extending its weekly loss to 5.3%. In a day where there was no other movement than to the downside, the local session saw a move from 1.0770 to 1.0650 and close to another 2 cents were erased over the course of the evening.
U.S. stocks plunged in the biggest selloff since the financial crisis, driving the Dow Jones Industrial Average down more than 500 points, as investors appeared to lose faith in the ability of the world's policy makers to revive the global economy and stave off a rolling debt crisis in Europe
By Greg PeelThe Dow closed up 29 points or 0.3% while the S&P gained 0.5% to 1260 and the Nasdaq jumped 0.
As a keen observer of social and regulatory change, it has not escaped me or many of our readers that a revolution is occurring in the ways that business is being conducted. New usages of the internet, social media and smartphone technology are the impetus for a huge structural shift in the economy.
Retail sales fell unexpectedly in June as consumers continued to watch every dollar amid jittery global economic conditions and worries about higher interest rates.
Investors worldwide sold shares amid yesterday and overnight amid growing concerns that global economic growth has stalled as well as a surge in new tensions in the eurozone.
By Greg PeelRetail sales fell by 0.1% in June to be up 1.4% annually on a nominal basis. On a trend basis, sales are up 0.
The Australian Dollar has opened trading around the 1.0750 level after trading lower in the overnight session.
Blue-chip stocks reversed a steep morning drop to snap an eight-day losing streak. In a volatile session, the Dow Jones Industrial Average squeezed out a gain of 29.82 points, or 0.25%, to finish at 11896.44.
The US ADP survey of private payrolls showed that employers added 114,000 jobs in July, above forecasts for a 100,000 gain. The ISM services index eased from 53.3 to 52.7 in July, below expectations for a result near 53.6.
Come and say 'Hello' to Your Editor in the weeks aheadFNArena Editor Rudi Filapek-Vandyck will be presenting at the upcoming Trading and Investing Expo in Sydney, and you are all invited to attend and say 'Hello' and have a chat after scheduled presentations on Friday and Saturda...
- Australian house prices are among the most unaffordable in the world- the problem is nation-wide and not restricted to cities- AMP sees little relief in sightBy Greg PeelThe rule of thumb is that house prices cross over into "unaffordable" territory when the median house price exceeds five times t...
So there's an agreement on the US debt ceiling and spending cuts? Well, yes, but not until the Senate and the US House of Representatives approves it.
Yesterday outdoor adventure wear retailer Kathmandu Holdings again confirmed that it was doing much better than the rest of the sector with another solid trading update.
Building approvals slumped in June, the June quarter and the year to June while house prices for the year to June and the June quarter were also lower.
The US Senate has passed the bill to cut spending and raise the debt ceiling. President Obama has signed the debt bill into law.
Interest rates are now on hold for at least another quarter, pushing the most logical date for a Reserve Bank decision back to the Melbourne Cup meeting on the first Tuesday in November.
By Greg PeelThe Dow fell 265 points or 2.2% while the S&P lost 2.4% to and the Nasdaq dropped 2.8%.In June, personal incomes in the US rose by 0.
By Greg PeelAt first glance the RBA's August monetary policy statement appears very similar to July's until one looks a little closer.
By Greg PeelLast week saw seven transactions completed in the spot uranium market, notes industry consultant TradeTech, totalling 700,000lbs.
The prohibition of marijuana in the US has led to an "underground" cannabis industry in Mexico run primarily by violent gangster cartels like the ones wreaking havoc at the southern borders of Texas, Arizona, and California.
The pea and thimble trick in Washington to resolve the debt ceiling problem, or the two surveys of Chinese manufacturing that clearly confirm the most important economy for Australia isn't tanking?
So there's an agreement on the US debt ceiling and spending cuts?
The US ISM manufacturing index slumped to a 2-year low of 50.9 in July, down from 55.3 in June. All major components of the index were weaker expect exports. But US construction spending hit a six month high in June, rising 0.2pct.
U.S. stocks fell but finished above session lows, as weak manufacturing data and worries of potential downgrades to the U.S. credit rating overpowered investor relief over the weekend's debt-ceiling deal.
By Greg PeelThe Dow closed down 10 points or 0.1% while the S&P lost 0.4% to 1287 and the Nasdaq dropped 0.
(This story was originally published on Wednesday, July 27, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).
The dramas on raising the US debt ceiling continue to dominate the financial news but the poorer than expected USD GDP for Q2 released on Friday does not bode well for the immediate prospects of the US economy.
