U.S. stocks closed lower Tuesday as continued sovereign-debt worries, fueled by a rating agency's downgrade of Ireland, overshadowed hints that the Federal Reserve may consider additional stimulus.
MORNING REPORT-
(7am AEST)The minutes from the FOMC meeting revealed that, despite the slowdown in economic growth, there was still little interest among Fed officials for a third round of quantitative easing - at least not in the short term. According to the minutes only ´´some participants´´ thought it would be appropriate to provide additional stimulus in the medium term if the unemployment rate remained elevated. However members spent most of the meeting firming up their exit strategy ...
MARKET CLOSE--Commonwealth Securities
(4.30pm AEST)The Australian sharemarket extended its falls in the second half of trade today, with the ASX 200 index (XJO) down 1.9 pct or 86.9 pts to 4495.4 while the broader All Ordinaries index (XAO) slumped by 1.8 pct or 83.3 pts to 4563.5. Almost all regions of the market ended lower with the exception of the coal producers.
U.S. stocks slumped Monday, as another round of anxiety over Europe's debt crisis spurred investors to flee risky assets such as stocks.
The Organisation of Economic Co-operation and Development (OECD) said its May leading index for 33 member nations had fallen for a second straight month, down from 102.8 to 102.5.
- Australian business confidence slumps in June- Business conditions improve but still below long-term averages- NAB pushes out timing of rate hikes- Weak growth expected this year, solid improvement in 2012By Chris ShawNational Australia Bank's Monthly Business Survey showed a slump in busines...
MIDDAY REPORT-Commonwealth Securities (CommSec)
(12.00pm AEST)The Australian sharemarket is pulling back for the second straight day, with the All Ordinaries index (XAO) down 1.4 pct or 65.5 pts to 4581.3. Almost all sectors are currently trading in the red with the miners down in the order of 1.5 pct.
By Greg PeelThe Dow fell 151 points or 1.2% while the S&P lost 1.8% to 1319 and the Nasdaq dropped 2.0%.
The Australian stock market was whacked by a combination of fears about the carbon tax, China losing control of its economy, the worsening health of the US economy and the focus on Italy as markets search for a new focus in Europe's debt woes.
As the global population increases, so does the number of mouths to feed. The good news is that in addition to providing food, innovations in sustainable agriculture can provide a solution to many of the challenges that a growing population presents.
For such a rotten employment report, the Wall Street reaction ended up being surprisingly muted: at one stage the Dow was down by more than 150 points, but those loses were cut to just 62 points by the close early Saturday, our time.
DSL may still have the lead in fixed-line broadband subscribers but that lead won't last. According to a report from the industry analyst firm Ovum, FTTH and FTTB will surpass DSL's market lead in the Asia Pacific region by 2014.
MARKET CLOSE-CommSec
(4.30pm AEST)It was a less than desirable start to the week for equities, with the ASX 200 index (XJO) falling 1.6 pct or 72.4 pts to 4582.3 while the broader All Ordinaries index (XAO) has dropped 1.5 pct or 69.2 pts to 4646.8. Almost all market segments ended in lower territory by the close of business.
Sydneysiders make a big deal out of Melbourne's weather. Perhaps rightly so - we've never stayed long enough to find out what it's really like. But walking the streets of sunny St Kilda this morning (actually, it's cloudy and a bit dull) we came to the conclusion that Melbourne is not that cold. Not as much as the propaganda from Sydney would have you believe, anyway.
MIDDAY REPORT --From Commonwealth Securities Ltd
(12.00pm AEST)The Australian sharemarket is significantly lower at lunch, with the All Ordinaries index (XAO) down 1.2 pct or 55.7 pts to 4660.3. Almost all sectors are trading in the red; however the country's largest telco, Telstra (TLS) is up 1 pct or 3 cents to $3.03 and is one of the day's better performers.
U.S. stocks closed lower Friday for just the second time in two weeks as a disappointing monthly employment report prompted investors to dial back their recent optimism about the economic recovery.
(This story was originally published on 6th July 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).
FNArena has added another video to its Investors Education section on the website. In this broadcast, ATW's Jerry Simmons zooms in on some recurring patterns for equities.
The Australian share market on Friday closed firmer after strong gains in the resources, retail and telecommunication sectors.
US employment (non-farm payrolls) rose by just 18,000 people in June - well short of forecasts centred on a jobs gain of 90,000. Private sector jobs rose by 57,000.
The Australian dollar has opened higher this morning, buoyed by positive sentiment in offshore markets overnight.
The latest rate rise from China's central bank should make investors and others just that teensy weensy concerned about the country's economy.
The Australian economy is not falling apart, despite all the talk of multi-speed economies, recession and doom and boom.
The past few weeks have been full of commentary questioning the resources boom and its impact on the wider economy.
Four of Austrlia's biggest cities are now among the most expensive places in the world to live in according to a new global survey published this Thursday.
- Bradken announces two acquisitions- Deals should boost earnings and product offering- Stock upgraded to Buy by Credit Suisse and Deutsche BankBy Chris ShawIn May Bradken ((BKN)) announced a capital raising, one that was seen by brokers as dilutive to earnings in the absence of any associated acqui...
The Australian sharemarket is gaining for the third straight day with the All Ordinaries index up 0.9 pct or 44 pts to 4710.1. All sectors are trading higher with the energy and mining sectors the best performers.
By Greg PeelAustralia's coal industry is making as big a song and dance as it can about the crushing impact of the government's planned carbon tax, as well it might.
By Greg PeelThe Dow rose 93 points or 0.7% while the S&P gained a more impressive 1.1% to 1353 and the Nasdaq added 1.
Brokers who choose to add risk insurance and financial planning into their business may be stretching themselves too thin, according to aggregator Australian Loan Company (ALCo).
