The S&P/ASX 200 surged on Thursday as the jobless rate rose faster than expected to 4.1%, indicating an economic slowdown aligning with Reserve Bank forecasts.
Sell 3% of Incitec Pivot Limited (ASX: IPL). The ongoing divestment of its Fertilisers business introduces significant complexity and uncertainty, impacting financial stability.
Ahead of the federal budget, Australian shares saw modest declines, with the S&P/ASX 200 dropping by 0.4 percent as the market reacted to a flat performance on Wall Street and awaited crucial inflation data from the US. The real estate sector felt the brunt of the losses, dipping 0.9 percent, influenced by interest rate sensitivities.
The Australian Stock Exchange saw gains, led by energy companies as optimism over China’s economic rebound and rising commodity prices fueled market enthusiasm.
The investor sentiment pattern, in the US equity market in particular, is of extreme selective hearing with any weakness in the economy cheered because it will trigger rate cuts, while any strength in the economy is cheered as “proof” of a soft landing.
Australian shares fall sharply with retailers and banks hit hard by rising living costs and dampened consumer spending, signaling tougher economic times ahead.
Economic Calendar – May 2024 Economic Calendar – May 2024 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 29🏦[All Day] JP
This action secures a solid 25% profit on half of our investment, aligning with our initial risk management and profit-taking strategy. By locking in gains, we protect our portfolio against unforeseen market volatilities while capitalizing on our successful positioning.
The recent legislative changes in the U.S., banning the import of Russian enriched uranium, have precipitated a notable shift in the uranium market dynamics.
We recommend buying shares of Macquarie Group Limited (MQG) based on its appealing technical indicators, relative undervaluation within the banking sector, and attractive dividend yield.
The U.S. earnings season continues to unfold with notable performances and surprises. This week, several key companies reported significant shifts in their business dynamics, reflecting broader economic pressures and opportunities. Stagflation concerns persist as U.S. growth decelerates while inflation pressures mount, challenging central banks and impacting global market sentiments.
Liontown Resources’ March 2024 Quarterly Activities Report highlights substantial progress at the Kathleen Valley Lithium Project, currently 90% complete in process plant construction and over 85% overall project completion.
