Bond markets are signalling a strong chance that the Reserve Bank will next month finally deliver the first Australian rate cut in more than four years, shrugging off a surprisingly buoyant jobs market and economist forecasts. While traders have modestly tempered the chance of a February rate cut by the… Read More »Bond markets stick with early rate cut after jobs blowout
Economists say there is no urgency for the Reserve Bank of Australia to deliver a pre-election cash rate cut in February after a bumper jobs report showed the labour market continued to defy expectations of a looming slowdown. That would leave the central bank’s April meeting as the only point… Read More »No need for a February rate cut after bumper jobs report: economists
Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income. Here’s what the company reported: The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents per share, from a year earlier, when the bank had a… Read More »Bank of America tops estimates on better-than-expected investment banking, interest income
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing. The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of Labor… Read More »Core inflation rate slows to 3.2% in December, less than expected
Australian shares are poised to jump more than 1 per cent as US stocks surged on record profits at four of America’s largest banks, and as US consumer prices cooled, easing concern about inflation. ASX futures were up 122 points, or 1.5 per cent, at 7.10am AEDT. The S&P 500… Read More »ASX to leap 1pc as Wall Street surges; Rio production growth flat
Telstra’s decision to hive off its AI projects and staff at such a critical time will make other companies stand up and take notice. The big consulting groups and tech companies must be loving it. If there’s one big Australian business we should hope gets AI right, it is Telstra.… Read More »Telstra’s Vicki.ai a glimpse into the future of Australian business
Australian shares are poised to rise as US stocks surged, reflecting near record profits at four of America’s largest banks and a further cooling in core US consumer prices last month. ASX futures were up 104 points or 1.3 per cent near 8am. Oil gained as the impact of new… Read More »ASX to leap, Wall St surges on bank profits, rate cut bets
Stocks surged Wednesday after the latest consumer price index report showed core inflation unexpectedly slowed in December and major U.S. banks kicked off quarterly earnings reporting season with blowout results. The Dow Jones Industrial Average advanced 703.27 points, or 1.65%, to close at 43,221.55. The S&P 500 climbed 1.83% to 5,949.91, and the Nasdaq Composite rallied 2.45% to… Read More »Dow surges 700 points, S&P 500 posts best day since November after tame inflation report: Live updates
Check out the companies making headlines in midday trading. Eli Lilly – The drugmaker’s shares tumbled 6.6% after the firm said demand for its weight loss and diabetes drugs would not meet its lofty expectations. Eli Lilly said it now expects full-year 2024 revenue of about $45 billion, lower than the $45.4… Read More »Stocks making the biggest moves midday: Eli Lilly, Applied Digital, Boeing and more
Telstra will spend $700 million rolling out artificial intelligence across its entire business in one of the biggest deployments of the technology by a major Australian company to date. The telecommunications giant will bring in Accenture to oversee the overhaul of its operations, with the creation of a joint venture… Read More »Telstra pins hopes on massive AI rollout with $700m Accenture deal