On the eve of MicroStrategy’s stock market debut in June 1998, founder Michael Saylor stayed in a penthouse suite at the Lotte New York Palace in Midtown Manhattan. Saylor, who was 33 at the time, says it was the most exquisite hotel room he’d ever seen, paid for by lead underwriter Merrill Lynch.… Read More »MicroStrategy rides ‘red sweep’ to 477% gain in 2024, topping almost all U.S. stocks
The Australian Energy Regulator’s findings that large power generators may be artificially pushing up prices for consumers at peak periods represents a failure of the privatisation of the sector, South Australian Energy Minister Tom Koutsantonis says. Mr Koutsantonis pointed to the AER’s report, released on Friday, which examined five instances where… Read More »Power findings show ‘failure of privatisation’: SA energy minister
The International Monetary Fund has warned of a significant risk that inflation will stop falling due to the strong jobs market and rapidly rising public sector demand, and called for spending restraint across all tiers of government. Releasing a health check of the Australian economy on Tuesday, the Washington-based IMF… Read More »‘Significant risk’ Australian inflation might stop falling: IMF
The Australian sharemarket recorded its best single session in six months on Monday as bargain hunters piled in, snapping up banks and property stocks after a bout of heavy selling last week. The benchmark S&P/ASX 200 jumped 134.6 points, or 1.7 per cent, to 8201.6 at the close, as all… Read More »ASX records best session in six months, as bank, property stocks rally
Stocks rose on Monday to start a holiday-shortened trading week as the continuous strength in technology names helped the broader market. The S&P 500 gained 0.73% to 5,974.07. The tech-heavy Nasdaq Composite rose 0.98% to 19,764.89, as Tesla and Meta Platforms added more than 2% and Nvidia climbed more than 3%. The Dow Jones Industrial Average erased earlier losses and ended the… Read More »S&P 500 closes higher to begin holiday week, tech stocks lead the advance: Live updates
Two weeks before Black Friday, Amazon quietly added a new section to the top of its mobile app. Called Haul, it’s a mobile-only area for ultra-low-price items, primarily shipped directly from China. Haul is Amazon’s answer to the booming popularity of apps such as PDD Holdings’ Temu and fast-fashion retailer Shein. Amazon told… Read More »Behind Amazon’s quiet launch of Haul, which competes with Temu in ultra-low-price items from China
Australian shares smashed records in 2024 but the benchmark S&P/ASX 200 Index will finish the year with only a 6 per cent advance to show for it because for every Commonwealth Bank millionaire, there were plenty of lithium, casino and fast food land mines to humble the wisest investors. Banking… Read More »The stocks that did the most damage in 2024 – and the ones that ruled
Funds prioritising environmental, social and governance concerns face their biggest test as investors lose interest, triggering a wave of closures. Australian investors allocated $800 million into ESG exchange-traded funds over the past year, representing just 3 per cent of all new money going into ETFs, according to figures compiled by… Read More »ESG investing on shaky footing as green fatigue sweeps ETF market
The ASX has narrowly avoided the need to delay or cancel trading on Monday after engineers working through the weekend to resolve serious issues with its critical settlements processing system. The faults were discovered on Friday and meant that trades made earlier in the week could not be settled, leaving… Read More »ASX says it will trade as normal on Monday, narrowly avoiding disaster
A turbulent week on Wall Street ends with a “Thank Goolsbee, it’s Friday” rally, after the Chicago Fed President used a CNBC appearance to refocus investors’ attention on the still-encouraging trend in inflation and the likelihood that interest rates still have room to be trimmed in the context of a healthy economy.… Read More »Bull market tested as volatility spikes, overheated assets cool off. The testing may not be done