Pacific Perspectives
ASX to rise but investors brace for extended US shutdown uncertainty
The Australian sharemarket will open higher on Monday as apprehensive investors hope that signs of an impending budget deal in Washington will end a lengthy government shutdown that has left traders with little data to…
Nasdaq closes lower, capping its worst week since April
The Nasdaq Composite closed lower Friday, pressured by more losses in artificial intelligence stocks, to post a losing week as new economic data added to investors’ fears of a slowdown. The tech-heavy index shed 0.21% to finish…
Asia-Pacific markets rise, tracking Wall Street gains, as AI-linked stocks rebound
Asia-Pacific markets rose Thursday, tracking Wall Street gains after AMD’s third-quarter earnings beat lifted artificial intelligence stocks. Japan’s benchmark Nikkei 225 index rose 1.34% to close at 50,883.68, while the Topix index climbed 1.38% to end at 3,313.45. Japanese…
APA Group faces Beetaloo climate backlash from international investors
Some of the world’s biggest pension funds have thrown their weight behind a resolution to force APA Group to justify how building new gas pipelines aligns with its climate goals, as the infrastructure company prepares…
Coal power workers brace for hit as AGL cuts 300 jobs
AGL Energy has advised that about 300 jobs will be cut across its operations, prompting unions to accuse the giant electricity and gas supplier of fast-tracking cuts to escape obligations to transition workers at coal…
The RBA’s pessimism hasn’t swayed these economists from rate cut calls
The smoke signals from the Reserve Bank of Australia’s Martin Place headquarters were pretty bleak this week for borrowers hoping for big rate cuts to come. Governor Michele Bullock said the rate-cutting cycle may be…
Dow closes lower by nearly 400 points, Nasdaq drops 1.9% as AI stocks resume their decline
U.S. stocks retreated on Thursday as companies that have benefited from the artificial intelligence trade came under pressure yet again amid concern about their eye-watering valuations. The Dow Jones Industrial Average slid 398.70 points, or 0.84%, to…
Stocks making the biggest moves midday: Unity Software, Rivian, Pinterest, Trex & more
Check out the companies making the biggest moves midday: Unity Software — The video game company rallied 8% on better than-expected results for the third quarter. Unity’s fourth-quarter revenue guidance also exceeded expectations. Allegiant Travel — The…
Santos wins in record credits for carbon capture
Australia’s Clean Energy Regulator has issued more than 600,000 carbon credits to energy giant Santos following the start-up of the Moomba carbon capture and storage project in South Australia’s Strzelecki Desert last year. It marks…
RBA governor dampens market’s rate cut hopes
Bond traders are abandoning their bets that the Reserve Bank of Australia would cut interest rates again this cycle after governor Michele Bullock told a packed press conference that higher-than-expected inflation could mean a move in either…