The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and the Nasdaq Composite lost 0.64% to 15,611.76. U.S. gross domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. US personal consumption expenditures price index increased at a 3.4% pace, well above the previous quarter’s 1.8% advance. ASX 200 SPI down 26 for a two day total of 8 ..read more

ASX 200 fell 1 point to 7683 (-0.01%) after a CPI gut punch stole the momentum. Inflation is once again higher than expected, and insurance costs and education continue to pressure the upside. Banks again led the charge higher, with the Big Bank Basket up to $203.73 (+0.4%). WBC the standout up 0.9% despite news yesterday on profit hit. REITs mixed as rates pushed higher, GMG up 1.7% with most of the sector down. Insurers better on bond yields. Healthcare mixed too, CSL taking a break. Industrials mixed, retail fell after the CPI number as rates now seem on hold for longer. Tech eased, the All ..read more

Wall Street ended higher overnight, near best levels, building on the positive momentum from yesterday's session as gains in mega-cap tech stocks lifted the broader market. Dow up 264 points (+0.69%), S&P 500 +1.20%, and NASDAQ +1.59%. Treasurys eased a touch following a solid $69bn sale of 2Y notes, and economic data showed US business activity cooled in April to a four-month low. Tesla 1.9% kicked off the earnings cycle for heavy-weight tech stocks, rising 10.68% in after-hours after announcing it would accelerate the launch of more affordable models, and United Parcel Service +2.41% (an ..read more

ASX 200 has risen 34 points to 7684 (+0.5%) as the market waits for US earnings. Banks leading the charge higher with the Big Bank Basket up to $202.84 (+1.3%). CBA up 1.5%, WBC up 0.9% and MQG gaining 1.2% with insurers slightly higher. REITs better with GMG up 0.8%, SCG up 1.9%. Healthcare better again, with CSL up 1.3% and RHC up 2.9%, bid rumours from WES. Industrials firmed and tech better, with the All-Tech Index up 1.2%. Some slippage in spots as TLS down 0.3%, and BXB falling 6.3% on a 3Q trading update. Resources eased with iron ore stocks holding, but gold miners fell as bullion crac ..read more

The Dow Jones Industrial Average climbed 253.58 points, or 0.67%, to close at 38,239.98. The S&P 500 traded 0.87% higher to finish the session at 5,010.60, while the Nasdaq Composite advanced 1.11% to 15,451.31. Both the S&P 500 and Nasdaq ended a six-day losing streak. ASX to rise. SPI Futures up 19 points (+0.25%). Base metals mixed. Copper -0.42%, Zinc +1.40%, Aluminium +0.23%, Nickel +1.40%, and Lead +-2.28%. Tin down % on profit-taking after prices touched a 22-month high. Gold sharply fell 2.67% as worries over a wider Middle East conflict subsided. Oil prices flat.  WTI ..read more

ASX 200 rallies 82 points to close at 7649 (1.1%) a long way from the high of the day at 7679. Euphoria gave way to some pre-tech result nerves. No news over the weekend on Israel or Iran helped early sentiment with broad-based gains across the board. Iron ore stocks in demand, BHP up 1.8% with RIO modestly higher despite copper heading to $10,000. Nickel stocks back as the metal hits a 7-month high, IGO up 2.3% and S32 doing well on a production report, up 5.6%. Gold miners slipped as tensions eased, EVN down 1.5% and NST off 1.4%. Oil and gas in a similar boat, WDS down 2.6% with STO off % a ..read more

Wall Street finished mostly lower overnight following a sharp sell-off of mega-cap tech stocks. Gains by American Express +6.22%, kept the Dow in the green, up 211 points (+0.56%). Up 327 points at best. Early gains on the S&P 500 and NASDAQ didn’t last, turning lower to book six straight sessions of losses, the longest streak of declines since October 2022. S&P 500 eased 0.88%, breaking below 5,000, and the NASDAQ stumbled over 2%. For the week, the S&P 500 fell 3.05%, NASDAQ 5.52%, and the Dow edged up 0.01%. Treasury yields eased marginally, oil eked out a miner gain after Iran ..read more

ASX 200 drops 75 points to 7568 (-1.0%). Anyone would think there was a war on. Down 2.8% for the week, News filtered through during the morning of an Israeli strike in Iran, US futures plummeted, gold shot higher to $2415 at one stage and oil catapulted above $90 again. Down around 150 at it nadir. Some bargain hunters returned with news that it was a limited strike and buyers found courage, banks were hit with CBA down 0.8% and ANZ off 1.1% with the Big Bank Basket down to $198.67 (0.9%)% as MQG tumbled 1.6%. Financials were generally weaker as insurers fell hard, with bond yields falling as ..read more

The S&P 500 lost 0.22% to 5,011.12, while the Nasdaq Composite dropped 0.52% to 15,601.50. The Dow Jones added 22.07 points, or 0.06%, to finish at 37,775.38, still closing just above its flatline for 2024.  The S&P 500 and Nasdaq each notched their fifth straight down day. For the S&P 500, it is the first losing streak of that length since late October. ASX to fall. SPI Futures down 55 points (-0.72%) Base metals mostly higher. Copper +1.87%, Nickel +1.87%, Zinc -0.86%, and Lead +1.47% Aluminium gained 1.04% after LME inventories slid by 20k tons. Tin jumped 4.85% after one ..read more

ASX 200 rose 37 points to 7639 (+0.5%) off highs but bounces off 7600. Jobs data fails to stir. Good news for Iron ore miners with BHP production numbers and higher ore prices in Asia saw BHP up 1.5%, RIO up 1.7% and FMG lagging. Base metals finding friends again, MIN up 1.9% and PLS up 2.1%, with S32 modestly better, up 1.3%. Gold miners slightly mixed, EVN off 3.9% on broker downgrades after big rally. NST up 0.4% and NEM up 1.3%. Oil and gas stocks eased, WDS down another 0.4%. STO off 0.9% on production numbers. Banks were back in vogue, CBA up 0.7% and NAB up 0.9%, with the Big Bank Baske ..read more