Some of the nation’s largest companies are bracing for more pain from a battered Australian dollar as investors worry that a global trade war will hit economic growth and further strengthen the US currency. The Aussie has already shed US6¢ since September to around US63¢ and briefly fell below US61¢… Read More »Why a battered $A is a double-edged sword for ASX stocks
Stocks resumed their steep pullback on Thursday as the latest concessions from the White House on President Donald Trump’s controversial tariff policies failed to calm rattled investors. The Dow Jones Industrial Average slid 427.51 points lower, or 0.99%, to 42,579.08, after falling more than 600 points at session lows. The S&P 500 tumbled 1.78%… Read More »Dow tumbles 400 points, Nasdaq enters correction as trade policy fatigue ignites sell-off: Live updates
A sharp drop in mortgage interest rates finally lit a fire under loan demand. Both current homeowners and potential homebuyers jumped back into the market, after a lackluster showing for this year so far. Total mortgage application volume jumped 20.4% last week compared with the previous week, according to the… Read More »Weekly mortgage demand surges 20% higher, after interest rates drop to the lowest since last year
Salim Ramji began his career in finance back in the early 1990s. That was an uncertain time as the world emerged from the Cold War and walls and trade barriers fell. What followed was three decades of globalisation that most of us have taken for granted. But the head of… Read More »Markets will act as the ultimate disciplinarian, says Vanguard chief
Australian shares are set to open higher, tracking a reversal in Wall Street’s fortunes after US President Donald Trump offered some reprieve on tariffs. ASX futures were pointing 19 points, or 0.2 per cent, higher, predicting the sharemarket would reverse the prior session’s losses. On Wall Street, all three US… Read More »Before the Bell: ASX to rise, court approves Rio Tinto’s Arcadium acquisition
Hedge funds have started to throw in the towel betting on a long-awaited correction in Commonwealth Bank shares as Australia’s largest bank continues to defy market expectations for an imminent sell-off. Despite a wobble during the February reporting season when weaker results from Westpac and National Australia Bank prompted investors to… Read More »Short sellers ditch CBA as sell-off doubts mount
Stocks rose on Wednesday, staging a recovery rally after back-to-back losses as investors hoped that an exemption for automakers to President Donald Trump’s controversial tariffs opened the floodgates for more concessions. The Dow Jones Industrial Average rebounded 485.60 points, or 1.14%, to finish at 43,006.59, regaining ground after plunging more than 1,300 points over… Read More »Dow closes nearly 500 points higher, S&P 500 surges over 1% on hopes for Trump tariff concessions
Check out the companies making headlines in midday trading: Okta — Shares surged 24% after the cloud software firm posted a fourth-quarter earnings and revenue beat. Okta reported adjusted earnings of 78 cents per share on revenue of $682 million, while analysts polled by LSEG expected 74 cents in earnings per… Read More »Stocks making the biggest moves midday: Best Buy, Walgreens Boots Alliance, Tesla, Okta and more
Endeavour says profit fell by more than expected across its pubs and liquor stores as the hospitality giant confirmed it would appoint Ari Mervis executive chairman as a search for a permanent chief executive drags on. Mervis has been Endeavour’s chairman since last year, and the company confirmed a report in The Australian… Read More »Bumper pub sales not enough to save Endeavour from profit pain
Traders reacted swiftly to US President Donald Trump’s declaration that he would push through with new tariffs on Mexico and Canada and an extra levy on China, dumping everything from stocks to bitcoin amid concern about the impact on global growth. The selling was heaviest on Wall Street, with both the S&P… Read More »Markets rattled as Trump doubles down on tariff threats