The Potential merger of RIO Tinto and Glencore
potential merger between Rio Tinto (RIO:ASX, RIO:LSE) and Glencore (GLEN:LSE) would create a mining behemoth with significant implications for the global mining industry
potential merger between Rio Tinto (RIO:ASX, RIO:LSE) and Glencore (GLEN:LSE) would create a mining behemoth with significant implications for the global mining industry
US stocks were broadly positive overnight, however the MAG7 concentration worked against the indices to see the market give up that early strength and close lower
Stocks fell overnight, giving back early gains on cooler than expected inflation data, as profit taking continued in the Mega-cap “Magnificent 7” stocks
Stocks closed higher after cutting losses Monday as a jump in cyclical stocks including energy helped offset a rotation out of growth stocks including tech amid growing worries about a Federal Reserve pause just days ahead of key inflation data.
Stocks fell sharply Friday, after a stronger-than-expected jobs report for December stoked fears of a prolonged Federal Reserve pause on rate cuts, sending Treasury yields sharply higher.
catch up on this week in markets
The US stock market was closed overnight due to President Carters state funeral, while Wildfires in LA escalated with damages estimated at $20B
Australian shares pulled back on Thursday, with the S&P/ASX 200 shedding 0.4 per cent (30.1 points) to 8319. All 11 main sectors ended in negative territory, led by weakness in energy and industrials. Oil prices dipped, dragging Woodside Energy 1.1 per cent lower, while Transurban lost 0.5 per cent. A 0.8 per cent lift in November retail sales undercut expectations and clouded hopes for a quick rate cut next month, despite concerns that spending may have been spread throughout the month.
Stocks hovered around the flatline Wednesday as technology continued to pressure the broader market lower, while the Federal Reserve’s December meeting minutes signal a slower pace of rate cuts ahead.
Equities closed sharply lower Tuesday, as tech was hurt by rising Treasury yields after economic data flagged concerns about stickier inflation, reining in bets of further Federal Reserve rate cuts.
The rally was primarily driven by semiconductor stocks and communication services, with most other S&P 500 sectors ending lower.