Thursday was a day of consolidation for regional indices. Whilst political issues remain fluid in Europe the focus is tending towards the other side of the Atlantic. Better economic news is empowering investors who continue to push the Dow Jones Industrial Average further into record territory. The gains on Wall St failed to translate to local trade today although a case could be made for investors holding their fire until the release of key economic figures in the US at the end of the week. Not...
The local share market is virtually unchanged at lunchtime in the East, after rising to highs not seen since September 2008 yesterday.
According to the newest report by HSBC, emerging markets saw their growth decelerate in February. The EMI showed that especially larger economies witnessed more sluggish economic growth.
US dollar strengthens as strong US data adds to positive sentiment.
Wednesday night it is was US non-manufacturing PMI that pushed the Dow to all-time highs and the S&P near its all-time high; last night, however it is was non-farm payrolls shooting the lights out.
The US ADP reported another 198,000 private sector jobs were created in February, with January numbers revised up to 215,000. The underlying trend remains one of improvement in terms of job creation. US factory orders fell back by 2pct in January, largely due to a fall in demand for military hardware and commercial aircrafts.
By Greg PeelThe Dow closed up 42 points, or 0.3%, while the S&P gained 0.1% to 1541, but the Nasdaq slipped slightly.
The last 24 hours for global markets have been defined by positive news. One of the headline grabbing outcomes has been the Dow Jones closing at a new record high over night. Supporting news included European manufacturing reports which didn't disappoint investors, the Chinese administration announcing that the 2nd biggest economy in the world will grow at 7.5% this year and a better than expected read on activity in the US services sector. As a result the volatility which gripped the markets...
After a great run here at home yesterday where the ASX 200 index closed 1.3% or 64points higher, European and UK markets rallied. Regained confidence in the US markets pushed the UK FSTE index to a 5 year high at the close of trade.
While Australia's farmers face bright prospects in the long term as global demand for food is project to go up by 75 per cent in 2050, they have to contend with short-term dip in prices.
By Andrew NelsonAnalysts from JP Morgan recently attended an analyst forum; the draw card was a presentation by Vivek Tulpule, Rio Tinto's ((RIO)) Head of Economics and Markets.
By Andrew NelsonThe Week from the 20th and 27th of February was another subdued one for shorting and short covering activity on the Australian share market.
The Australian Dollar has mostly held its ground against the US Dollar, getting support from decent economic indicators here and abroad and also from yesterday's RBA interest rate announcement.
It was not an impressive start to the week for the Australian share market. But life is full of second chances. And today, the Reserve Bank of Australia meets to fix the price of money. Perhaps the RBA will say something about lowering interest rates that will lift investor's spirits.
Europe and the US trotted out more strong data overnight, this time in the non-manufacturing sectors.
China has just surpassed the US as the world's largest oil importer. This is the story of rising Chinese demand. But it's also the story of rising US oil production. And THAT's the story of shale gas, which we'll return to later this week. Here's how the Financial Times reports it.
The Sequester: True or Not True?
The US ISM services index rose from 55.2 to 56.0 in February, the highest level in a year and above forecasts centred on result near 55.0. The exports sub-component of the index hit the highest level in almost six years. The Redbook chain store sales index was up 2.2pct in the latest week on a year ago.
On the 5th of February, the survey by the British Retail Consortium indicated that the UK retail sales increased in February at the fastest rate in about three years. The latest figures suggested that consumer confidence was boosted as UK customers went out to buy clothes, home furnishings and electronics goods.
On the 4th of March, HSBC Holdings reported a fall in its full year preliminary profit for the year ended December 2012. The bank cited debt revaluation and the US related money-laundering fine as some of the major determinants which led to declining profits.
By Greg PeelThe Dow closed up 125 points, or 0.9%, while the S&P gained 1.0% to 1539 and the Nasdaq added 1.
Tuesday saw a generally positive session for regional stocks in the aftermath of Monday's selling. Investors continue to keep a wary eye on the Shanghai Composite index. From a technical perspective the Chinese index appears vulnerable given its 3.7% decline on Monday.
Working people tired of spending their whole day in front of the computer or assembling parts in a factory could try their options in getting a dream job. That dream may come true for young workers who would join Tourism Australia's Best Job in the World contest launched on Monday. The agency will award very alluring jobs to six winners of the competition in its bid to attract more younger tourists to the land down under.
Kim Dotcom, the owner of the shuttered Megaupload file sharing site, has plans to launch an initial public offering for his new site, Mega, in the next 18 months. The IPO is seen as an effort to gain more legality in his operations which has been shut down by police over charges of copyright violations.
The local share market is performing very strongly at lunchtime in the East, clawing back from yesterday's heavy losses which were exacerbated by concerns out of China and the fact 22 listed companies traded without rights to their dividends.
By Andrew NelsonFebruary might not have been a busy month as far as uranium volumes go, but it sure was an eventful month.
Australian dollar makes a tepid recovery ahead of the RBA board meeting this afternoon.
- Dun & Bradstreet report negative jobs growth- High operating costs keeping Oz Business at bay- Capital spending lowest level since September 2011- Cash flow seen as a major issue By Andrew NelsonAustralian businesses are increasingly putting off investments as the cost of doing business continues ...
The Dow Jones Industrials are again trading at over 14000. The S&P 500 is prepared to make an attack run on 1600. Weary cash, tired of sitting on the sidelines waiting for something of value to come along, is off the bench and into the game. And the game itself is at an interesting turning point.
No major data was released in the US overnight, with most investors were watching Vice Chairman Yellen's speech to the National Association for Business Economics (NABE). She reiterated Chairman Bernanke's view that a hasty end to easing could backfire. This added additional weight to the earlier comments and alleviated 'liquidly dependant' fears sparked on February 21. Professor Yellen's speech helped all three major US indices finish in the green as they did on Friday after Bern...