Many Baby Boomers, people born between 1946 and 1964, are already contemplating the question of where to spend their retirement years as most of them approach the end of their careers.
Local shares held on to modest gains by the close, with the All Ordinaries Index (XAO) rising by 3pts or a little less than 0.1 per cent. The energy sector surged, while the miners were the biggest drag on trade.
The Australian sharemarket has been shooting the lights out in recent weeks; with the All Ordinaries Index (XAO) up 4.67 per cent since the start of February. This makes it the best month since July 2013. The XAO is largely flat at lunch.
Some interesting developments are starting to take place in China at the moment, as we witnessed its central currency tumble yesterday.
In US economic data, the S&P/Case Shiller home price index rose by 0.8% in December to be up 13.4% on a year ago. The FHFA home price index was up by 7.7% on a year ago. Consumer confidence eased from 79.4 to 78.1, short of forecasts centred around 80.0. And the Richmond Fed composite index eased from +12 to minus 6 in February.
Despite hitting fresh five and a half year highs earlier today, the Australian sharemarket has fallen for the first time since 13th February this afternoon. The All Ordinaries Index (XAO) lost 0.2 per cent; however is still up by 4.5 per cent so far in February. This makes it the best month for local stocks since July 2013.
The Australian share market is tracking higher for the eighth consecutive session, following a positive session on Wall Street and generally upbeat company forecasts.
Overnight the S&P made a record intraday high and closed in the black (year-to-date) for the first time in 2014. It's a very rare thing to see the US markets underperforming the rest of the world, and this does provide market upside.
In US economic data, the Markit ´´flash´´ services index fell from 56.7 to 52.7 in February. The Dallas Federal Reserve manufacturing business index eased from +3.8 to +0.3 in February. And the national activity index eased from minus 0.03 to minus 0.39 in January.
It was always going to be a tall order for stocks to stay in positive territory today. US markets ended lower on Friday, albeit by a modest margin. Additionally there were several large stocks going ex-dividend, including Telstra (TLS), Woodside Petroleum (WPL), Suncorp (SUN) and Wesfarmers (WES). Given these influences the market acquitted itself reasonably well to finish largely unchanged on the session.
The Australian share market is moving higher for the seventh session in a row, despite falls on global markets on Friday.
Global growth remains below trend as seen in the projections for the US, Japan and Australia; this has been the first G-20 meeting since the GFC that has seen growth as the key theme rather than austerity and blame for the GFC over the past six years. All nations want to see global growth around 5% rather than the current 3% level.
In US economic data, existing home sales fell 5.1% to a 4.62 million annualised pace in January. Economists had tipped a 4.3% decline.
To boost trade between the two nations and help reduce currency fluctuations, Australia and South Korea signed on Sunday a 3-year currency swap agreement worth $4.5 billion.
Australia is one of the favourite destinations of rich Asians who have an investment property overseas. A report by global bank HSBC said that over one-third of affluent Asians have purchased properties abroad.
The Australian share market rose for a sixth straight session today, thanks to a strong lead from Wall Street and generally upbeat earnings results.
The Australian sharemarket is higher at lunch for the sixth consecutive trading day and for the 11th time in 12 sessions. The All Ordinaries Index (XAO) is up 0.6 per cent, with the miners the start performers. The last time the XAO improved from Monday through to Friday was 14 months ago. Largely positive economic news in the U.S. (relating to jobs and manufacturing) helped lift global markets overnight.
Risk sentiment picked up in US trade after having slumped in Asia yesterday following a disappointing China manufacturing PMI print. Sentiment was also subdued in European trade with a raft of PMIs mostly disappointing and weighing on the single currency.
In US economic data, consumer prices rose by 0.1% in January to be up 1.6% over the year. Analysts had expected prices to rise by 0.1%. US Markit Flash PMI rose from 53.7 to 56.7 in January - its fastest pace in nearly four years. The gains were largely due to a lift in the new orders component which was at its highest level since May 2010. US jobless claims fell by 3,000 to a seasonally adjusted 336,000 last week.
Auckland, New Zealand's financial centre, is the third most liveable city in the world, according to the list released on Thursday by Mercier. Topping the 2014 Quality of Living list are Vienna and Zurich, 1st and 2nd placer, respectively.
The Australian share market ignored a weak finish on Wall Street and disappointing Chinese economic data to make it five wins in a row today.
For a second consecutive session local stocks have found the initiative locally in the absence of any offshore inspiration. U.S. stocks ended lower overnight influenced by disappointing housing data and the minutes from the last FOMC meeting.
Royal Dutch Shell is finally disposing its downstream assets in Australia with the reported sale of its Geelong refinery and petrol stations in the country for $2.4 billion. Newspapers identified the buyer as oil trader Vitol and Abu Dhabi Investment Commission.
Asian markets look set for a modestly weaker open, although if you look at a number of the momentum-focused indicators in Australia, dips should still present themselves as buying opportunities.
In US economic data, producer prices rose by 0.2% in January to be up 1.2% over the year. Analysts had expected prices to rise by 0.1%. US housing starts fell by 16% to an 880k annualised rate - significantly weaker than the 950k consensus, though the volatility was accounted for by the bad weather. Building permits also dropped by 5.4% to 937k.
The ASX 200 acquitted itself well on Wednesday in the face of a mixed picture for regional stocks the index was able to post a fourth consecutive day of gains.
Local stocks continued to grind higher on Wednesday despite an indifferent lead from US markets overnight.
Company results remain the overwhelming focus for local investors.
US markets returned to trade on a fairly quiet note with the major bourses relatively mixed. Data out of the US was underwhelming to say the least, with the Empire State manufacturing index and the NAHB housing market index sharply disappointing. Weather continues to be blamed for some of the disappointing readings but at some point this could start to weigh on sentiment. The Nikkei had a big day yesterday, rising 3% on the back of the BoJ. USD/JPY spiked to ¥102.75 on the back of the BoJ but ha...
In US economic data, the Empire State manufacturing index eased from +12.51 to +4.48 in February. In December there were capital outflows from the US totalling US$119.6 billion, up from $16.6 billion in November. And the National Association of Home Builders index eased from +56 to +46 in February - the biggest one-month decline recorded.
In a tie-up campaign with Tourism New Zealand, Air New Zealand is enticing Japanese tourists to visit the country Down Under during the colder months by offering them hefty 30 per cent discounts on plane fare.
