Pacific Perspectives
S&P 500 closes higher to begin holiday week, tech stocks lead the advance: Live updates
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…
Behind Amazon’s quiet launch of Haul, which competes with Temu in ultra-low-price items from China
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…
The stocks that did the most damage in 2024 – and the ones that ruled
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…
ESG investing on shaky footing as green fatigue sweeps ETF market
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…
ASX says it will trade as normal on Monday, narrowly avoiding disaster
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…
Bull market tested as volatility spikes, overheated assets cool off. The testing may not be done
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…
FDA says Eli Lilly’s weight loss drug Zepbound is no longer in shortage
Points The Food and Drug Administration on Thursday said the active ingredient in Eli Lilly’s weight loss drug Zepbound is no longer in shortage, a decision that will eventually bar compounding pharmacies from making cheaper, unbranded versions of…
FDA says Eli Lilly’s weight loss drug Zepbound is no longer in shortage
Points The Food and Drug Administration on Thursday said the active ingredient in Eli Lilly’s weight loss drug Zepbound is no longer in shortage, a decision that will eventually bar compounding pharmacies from making cheaper, unbranded versions of…
ASX to drop, $A recovers as Wall Street bounces back
Australian shares are poised to fall as markets parse the Federal Reserve’s projections of fewer-than-expected interest rate cuts and higher inflation next year. ASX futures were down 49 points or -0.6 per cent near 8am…
Traders dial up bets for February RBA rate cut
Optimism in money markets is growing for the Reserve Bank of Australia to cut interest rates at its first board meeting of 2025, as traders reassess their global rate outlook. The Australian three-year bond yield…