CommSec morning report Friday
In testimony to the US House Financial Services Committee, US Federal Reserve chair, Jerome Powell, reiterated that the central bank is “strongly committed” to bringing down inflation. He also noted that a recession is a “possibility.” In US economic data, initial jobless claims fell by 2,000 to 229,000 last week (survey: 226,000). The S&P Global…
Evening report Thursday
The ASX 200 edged higher by 19.9 pts or 0.31 per cent to 6528.4, fading from this morning’s best levels, when the index was up by as much as 0.66 per cent. Resource stocks fell most after the Materials and Energy sectors shed 1.5 per cent and 2.1 per cent, respectively. This comes on the…
Xinjiang sees surging foreign trade
URUMQI, – Northwest China’s Xinjiang Uygur Autonomous Region is seeing increasing foreign trade in tandem with surging China-Europe freight train trips, the construction and development of land ports and comprehensive bonded zones. The region posted over 67.4 billion yuan (about 10 billion U.S. dollars) in foreign trade in the first five months of this year,…
CommSec Morning Report Thursday 23 June
Latest news • In testimony to the Senate Banking Committee, US Federal Reserve chair, Jerome Powell, said that the US central bank was “strongly committed” to bringing down inflation. Powell said that ongoing increases in the central bank’s policy rate would be appropriate. • In US economic data, mortgage applications rose by 4.2% last week…
3 reasons why financial institutions are optimistic on China
China’s economy remains resilient in the long run in spite of challenges from COVID-19 pandemic, international financial institutions said. In reports and data released recently, they cited three reasons for optimism on China’s economy. Reason 1: limited impact on China’s foreign trade German trade with China in April was little affected by COVID-19 lockdowns and…
Online shopping spree mirrors consumption recovery
BEIJING, – As the June 18 shopping festival has come to an end, Chinese consumers have set off a mid-year consumption boom. During the festival, the total amount of orders placed on JD.com, China’s e-commerce behemoth, hit a record high of 379.3 billion yuan (about 56.7 billion U.S. dollars). The total hours of livestreaming on…
How planning ahead can benefit you in retirement
Work out how much money you need in retirement Regularly check your super and get financial advice Top up your super We all know that the COVID-19 pandemic has caused widespread disruption to our lives and for many, that included their retirement plans. Some lost their jobs at a crucial life stage, others were unable…
CommSec morning report Wednesday
In US economic data, existing home sales fell by 3.4% in May to a 5.41 million annual rate (survey: 5.4m). The Chicago Federal Reserve national activity index fell from 0.40 to 0.01 in May (survey: 0.32). European sharemarkets rose for a third straight day on Tuesday. Miners rose 1.3% and oil & gas stocks rose…
Evening report Wednesday
Despite lifting by as much as 0.5 per cent in early trade, the ASX 200 finished 0.23 per cent or 15.3 pts lower to 6508.5. This is in part due to futures pointing to a softer start to trade in the United States tonight. The Energy and Utility sectors did most of the heavy lifting…
Evening report Tuesday
The Aussie sharemarket had its best day in around three weeks and snapped a seven day losing streak in the process, after the ASX 200 added 1.4 per cent or 90.4pts, to 6523.8. Resource stocks did most of the heavy lifting, with the Energy sector posting its largest win in almost two weeks. The big…
