The surging share prices of ASX-listed WiseTech and Life360 have helped Australia’s technology sector more than double the return of the US tech-heavy Nasdaq this year. The S&P/ASX200 technology index has topped the ASX’s 11 industry groups, returning 56.4 per cent in 2024. That beat the 24.4 per cent return… Read More »WiseTech, Xero help ASX tech sector beat Nasdaq
Federal Reserve Governor Christopher Waller said Monday he is anticipating an interest rate cut in December but is concerned about recent trends on inflation that could change his mind. “Based on the economic data in hand today and forecasts that show that inflation will continue on its downward path to… Read More »Fed Governor Waller says he is ‘leaning toward’ a December rate cut, but worries about inflation
Tesla shares closed up nearly 9% on Monday, continuing to ride a postelection rally as President-elect Donald Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet. Analysts at Wedbush reiterated their outperform rating on the stock, joining earlier sunny outlooks reacting to Tuesday’s results. Tesla recently… Read More »Tesla shares pop 9% as postelection rally continues
The stock market could enjoy a bigger boost from President-elect Donald Trump than any previous administration thanks to his pro-business policies, according to Jeremy Siegel, finance professor at the Wharton School of the University of Pennsylvania. “President-elect Trump is the most pro-stock market president we have had in our history,” Siegel said Monday… Read More »Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel says
Australian shares are poised to rise. The S&P 500 reset its record high, though it failed to hold its early advance. Tesla was 9.1 per cent higher. Bitcoin was more than 10 per cent higher near 8.30am AEDT, and trading above $US88,000. The S&P 500 rose to as high as… Read More »ASX to rise, S&P 500 struggles, bitcoin tops $US88,000
ISPT, one of the country’s biggest property investors for industry superannuation funds, has plunged to a $1.5 billion loss in its flagship vehicle as real estate values fell and the cost of servicing its debt rose. It is one of the biggest single losses in the property sector over the past year… Read More »Big industry super property fund plunges to $1.5b loss on write-downs
The Minns NSW government and Transurban are at loggerheads over how to reduce the long-term costs to taxpayers and motorists from Sydney’s sprawling toll road network. Toll roads seemed such a painless way for state governments – particularly in NSW – to get credit for delivering better roads without having… Read More »Transurban tolls hit NSW roadblock
Source: https://www.cnbc.com/2024/11/09/bull-market-revs-back-up-on-trump-enthusiasm-as-traders-race-to-grab-small-caps-banks-and-tesla.html
The Minns government is ramping up pressure on Transurban to overhaul its toll road contracts in NSW, arguing that baked-in increases add costs not just to households but to businesses, one of which is paying more than $7 million a year in charges to move goods around Sydney. Data from… Read More »One business is paying $7.4m in Sydney road tolls
Poor liquidity management by the $3.9 trillion superannuation sector could threaten financial stability similar to the near-collapse of pension funds in Britain in 2022 after a rush on margin calls, the Reserve Bank has warned. RBA governor Michele Bullock told senators the sector’s sheer size meant it could “exacerbate ructions in the… Read More »UK pension fund crisis shows super risk to markets in Australia: RBA