Equities ended sharply lower and Treasury yields headed higher on Friday as plunging chip stocks and mixed economic data dampened investors’ risk appetite, providing a downbeat ending to a tumultuous week.
The ASX witnessed its largest surge in 10 months, driven by positive US data. Mining giants and major banks led the gains, defying market expectations.
MPC’s CEO discusses ASX dynamics on Ausbiz, Australian job growth surprises, and rising oil prices pose challenges for global economies.
Equities were up overnight on stronger than expected retail sales pointed to a resilient economy even as inflation data came in hotter than expected.
Today’s ASX performance showcased gains in materials and energy, reflecting broader economic positivity, while uranium stocks rally following a promising World Nuclear Association report.
Equities advanced and U.S. Treasuries oscillated within a tight range on Wednesday after data showed underlying inflation remained on its slow, downward trajectory, boosting expectations that the Federal Reserve will let interest rates stand, for now.
ASX mirrored Wall Street, tech and IGO affected. Dreadnought, Monadelphous, and Pact Group made headlines. CPI’s influence on market sentiment remained a key talking point.
Equities gave back yesterdays gains as Apple led a stumble in tech despite unveiling its latest iPhone, but jump in energy stocks kept losses in check a day ahead of fresh inflation data.
Today’s economic landscape saw resilient business conditions, ASX fluctuations, and mining magnates influencing West Australian asset acquisitions, highlighting the power plays in the financial world.
Equities rode tesla and big tech higher at the start of the week ahead of Apple’s eagerly anticipated iPhone 15 launch due Tuesday and inflation data later this week.
Amidst global shifts, Japan’s banking sector reveals surprising trends. As yields rise, investors watch closely, anticipating the next big move in the Land of the Rising Sun.
Equities ended higher Friday, but that wasn’t enough to prevent a weekly loss as Treasury yields racked up gains for the week amid fears that the Fed may have to persist with higher for longer rates.
