Pacific Perspectives
Shares, dollar slammed after Fed walks back rate cut plans
Financial markets are coming to grips with the possibility that global interest rates may not go much lower and advanced economies like the US and Australia will be prone to higher inflation in a world…
Dow ekes out narrow gain to snap 10-day losing streak, its longest in 50 years: Live updates
The Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday. The 30-stock Dow added 15.37 points, or 0.04% to close at 42,342.24. The S&P 500 slid 0.09% to 5,867.08, while the Nasdaq Composite fell 0.10% to…
Stocks making the biggest moves midday: Nvidia, Ollie’s Bargain Outlet, Birkenstock, Disney and more
Check out the companies making headlines in midday trading. Nvidia – Nvidia shares dropped 1.1%, reversing an earlier gain that had pushed the stock briefly out of correction territory. Shares have surged more than 160% since…
The 10 biggest surprises to wrong-foot investors this year
Morgan Stanley has labelled 2024 as the year of the hall pass after an unpredictable 12 months in the Australian market that caught many pundits off guard. The Reserve Bank of Australia didn’t cut interest rates,…
ASX to drop, $A plunges as Fed signals rate pause near
Australian shares are set to fall in line with losses on Wall Street after Federal Reserve policymakers projected that the pace of rate cuts will slow significantly in 2025, and inflation has yet to be…
Why Australians should ditch Europe this Christmas
Australians craving a white Christmas will get more bang for their buck in Canada and Japan than in the US or Europe this year after the Aussie dollar outperformed the Canadian dollar and yen, leaving…
Fed meeting recap: Powell says central bank to be ‘cautious’ on rate cuts, rocking market
The Federal Reserve cut interest rates by a quarter point on Wednesday, bringing the target range to 4.25% to 4.5%. The central bank revised its outlook for rate cuts in 2025, however, indicating that there…
Capital gains benefit spikes to $22.7b as property investors sell out
Treasury is forecasting a spike in people claiming investment tax breaks this financial year as experts said higher interest rates and more onerous costs on landlords imposed by some state governments were pushing investors to…
Investors are so confident in stocks, they have a record low allocation to the safety of cash
Points A closely watched survey of global fund managers registered its lowest cash allocation on record this month, underscoring a bullishness on stocks as the equity market nears the end of a strong year. The…
ASX to slip, Aussie dollar drops to new low; Insignia scraps Bain bid
The Australian dollar dropped overnight to its lowest level this year, continuing a downward trajectory as a gloomy outlook for commodity exports weighs on domestic shares. The Aussie dropped 0.6 per cent overnight to 63.35…