Closing Bell 23th October: ASX’s Rocky Ride Continues
ASX’s tumultuous journey persists, marked by significant drops in key sectors. Amidst global conflicts, the market grapples with potential shifts in economic policies.
ASX’s tumultuous journey persists, marked by significant drops in key sectors. Amidst global conflicts, the market grapples with potential shifts in economic policies.
Amidst market uncertainties, the energy sector and gold miners emerge resilient, benefiting from rising crude futures and record AUD gold prices, respectively.
The ASX faced a harsh decline influenced by escalating Middle East tensions and unexpected shifts in Australia’s domestic unemployment figures.
The ASX today is abuzz with Whitehaven Coal’s victorious bid for BHP’s Queensland mines, a move set to redefine industry competition and market dynamics.
ASX shows adaptability, navigating through RBA’s robust monetary discussions and global uncertainties, reflecting a market responsive to multifaceted economic and geopolitical influences.
The unfolding geopolitical turmoil in the Middle East casts a shadow over the ASX, driving fluctuations and a downturn in technology stocks.
China’s unchanged consumer inflation in September and declining producer prices signal potential economic challenges, amidst a property crisis and waning consumer confidence.
Amidst the Israel-Hamas conflict, oil prices waver, while the Reserve Bank of Australia contemplates a potential rate hike in its upcoming November meeting.
Australian and US bond yields reflect growing sentiments against rate hikes. Meanwhile, Israel signals a potential ground assault, escalating Middle East tensions.
The S&P/ASX 200 rallies past 7000, influenced by US Federal Reserve’s stance and NAB’s inflation insights, with all sectors, especially utilities and energy, registering gains.
Oil prices soar over 4% following Hamas’ unexpected attack on Israel, raising global concerns about Middle East stability and potential disruptions to energy supplies.
Despite global economic headwinds, the S&P/ASX 200 index surges, with financial and mining sectors shining bright. Magellan’s dip contrasts the market’s overall resilience.