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Other big companies set to report their latest quarterly results this week include Nvidia and Target on Wednesday and Deere on Thursday. Nvidia, with a total market value of roughly $US3.5 trillion ($5.1 trillion), will need to hit analysts’ high expectations for growth during the latest quarter to justify its big stock price, which has […]
After slashing rates last week, Fed Chair Jerome Powell worked hard not to offer forward guidance on where rates could go from here, keeping his options open for the December meeting and beyond. He stressed that officials can take their time to lower rates because the US economy is strong. He also said that policy […]
All told, the S&P 500 rose 22.44 points to 5,995.54. The Dow gained 259.65 to 43,988.99, and the Nasdaq composite edged up 17.32 to 19,286.78. In the bond market, longer-term Treasury yields eased. A preliminary report in the morning suggested sentiment among US consumers rose for a fourth straight month to its highest level in […]
The market’s main event for the day, though, is coming later in the afternoon. Wall Street’s nearly consensus expectation is that the Fed will cut its main interest rate for a second straight time. The central bank began its rate-cutting campaign in September as it focuses more on keeping the job market humming after helping […]
US stocks are drifting lower ahead of a momentous week full of potential flashpoints, but other markets are already moving more sharply, including a rise for oil prices and drops for Treasury yields. The S&P 500 was slipping 0.2 per cent in afternoon trading, but remains near its record set last month. The Dow Jones […]
The Australian sharemarket extended its losses on Thursday, taking the market to its worst monthly performance since April as investors grappled with a raft of updates. Source link
More than a third of the companies in the S&P 500 index have reported their latest quarterly financial results. Most of the results have beat analysts’ forecasts. Outside of earnings, Spirit Airlines jumped 15.3 per cent after the struggling budget airline said it will cut jobs and sell airplanes. Capri Holdings, owner of the Versace, […]
The laggards The materials sector was among the biggest losers, down 1 per cent, as iron ore heavyweights BHP and Rio Tinto fell 0.4 per cent and 0.6 per cent, respectively. Fortescue Metals Group declined by 3.2 per cent after the Twiggy Forrest-controlled miner said it shipped 47.4 million tonnes of iron ore in the […]
On Wall Street overnight, the S&P 500 edged down by less than 0.1 per cent. It was a tiny loss, but it still marked the first back-to-back drop for the index in a month and a half. The Dow Jones slipped 6 points, or less than 0.1 per cent. Like the S&P 500, it’s been […]
Following closely behind was Mineral Resources, which dived 13.8 per cent after the company launched an external probe into an alleged tax evasion scheme involving its billionaire founder Chris Ellison. Youth jewellery chain Lovisa closed 6.4 per cent lower. Loading The lowdown Not everyone thinks the double-digit losses in Mineral Resources are justified. “While we […]