Australian shares are up 0.5 per cent by mid-afternoon, boosted by Wall Street's mega-cap tech stock rally and the approval of US bitcoin exchange-traded funds. 10 out of 11 sectors showed gains, with consumer-related and tech stocks offsetting mining losses.
Key performers included JB Hi-Fi, Light & Wonder, Collins Food, and tech stocks like NextDC, Novonix, Megaport, and Tyro. Bitcoin also rose 1.3 per cent to $46,552 after the SEC's bitcoin ETF approval, and experts predicted it could reach over $100,000 by year-end.
Mining giants faced pressure due to a drop in iron ore prices, with Rio Tinto and Fortescue down.
Copyright 2024 – Finance News Network
29 Nov 2021 - Major indexes around the globe tumbled on Friday after a new iteration of Covid-19, omicron discovered in South Africa, spooked investors. The fear that it may have resistance against vaccines triggered a knee jerk sell down with energy, travel, and financial stocks hard hit while defensives were bruised shedding the least. Market participants sought refuge in gold as bond yields fell.
13 Feb 2020 - It has been a positive day of trade for the ASX, the local bourse managed to close 0.2% higher. Shares in Downer (ASX:DOW) continue to fall after reporting a fall in first half profit yesterday. Treasury Wine Estates (ASX:TWE) shares are tumbling after reporting yesterday that their current CEO, Michael Clarke, will retire. Collins Foods (ASX:CKF) says the settlement of the Federal Court proceedings commenced by Taco Bill Mexican Restaurants.
14 Feb 2020 - The ASX is currently on the rise and is now tracking 0.2% higher at noon. Amp (ASX:AMP) shares are on the up despite posting a huge full-year loss yesterday and noting that shareholders will not receive a dividend. Promedicus (ASX:PME) shares continue to fall along with Breville (ASX:BRG). Ridley Corporation (ASX:RIC) has settled the legal proceedings started against it by Baiada.
09 Nov 2021 - Mixed start to the week with the major indexes around the globe. Wall St pushed further into record territory after a bipartisan infrastructure investment bill was passed by the House of Representatives. European markets were mixed while Asian stocks reacted to China’s export figures. Back home, the local bourse snapped its 3-day winning streak as M&A emerged. Credit Suisse downgraded Orica’s rating (ASX:ORI).
07 Apr 2020 - The Australian share market rose at the open following positive leads from Wall Street. The S&P/ASX 200 index is tracking 0.1 per cent or 8 points higher at 5,294. The GPT Group (ASX:GPT) today announced that all properties in the GPT Wholesale Office Fund and the GPT Wholesale Shopping Centre Fund have been independently revalued as at 31 March 2020. The value of the properties was downgraded by approximately $183 million, representing a decline in...
17 Jun 2021 - In this report, I cover Wall St's performance following the US Federal Reserve bringing forward expectations on interest rate hikes, yesterday's local bourse activity and why Macquarie says Seek (ASX:SEK) is a "quality stock". Two companies set to make their debut with the RBA speech pencilled in today.
21 Nov 2024 - US markets showed a mixed performance overnight, with the Dow Jones rallying late in the session, closing up 0.3 per cent, while the S&P 500 finished flat. The Nasdaq, however, ended slightly lower, down 0.1 per cent.
15 Dec 2022 - Stocks slid Wednesday as the Fed delivered a widely-anticipated 50 basis point rate hike at the conclusion of its December policy meeting. And Tesla shareholders are becoming increasingly worried that Musk is too distracted by his work at Twitter. The electric carmaker’s stock is down 52 percent this year.
24 Jul 2024 - US markets hovered around flat as traders and investors awaited earnings numbers from Google parent Alphabet & EV giant Tesla. Both companies were due to report after the close.
23 Oct 2023 - Stocks retreated Friday as a surge in the 10-year Treasury yield prompted broader concerns about the state of the economy. The yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years on Thursday, a level that could ripple through the economy by raising rates on mortgages, credit cards, auto loans and more. Not to mention, it offers investors an attractive alternative to stocks.
