Saudis flood oil markets as equities get swapped in a sea of red
Saudis flood oil markets as equities get swapped in a sea of red There so many stories most days on how negative US Q1 GDP is likely to be and how high the jobless rate will be. However, it’s starting to feel like a game of who can come up with the biggest numbers. Undoubtedly…
ASX set to surge again after record 7% day
The Australian share market is set to surge again, having just recorded its best ever day following the announcement of a $130 billion wage subsidy package for businesses. The SPI200 futures contract was up 66 points, or 1.27 per cent, at 5,257.0 points at 0800 AEDT on Tuesday, suggesting strong early gains for local stocks….
Safety and Opportunity in Healthcare
Global markets, including the ASX, have followed the lead set by the passage of the largest “stimulus” package in US history, have begun a multi-day upward trend. In three days, the Dow Jones Industrial Average rose 21%, roaring back into Bull Market status. The USD$2 trillion-dollar package passed in the US Senate and was passed…
Silver Miners’ Q4’19 Fundamentals
The carnage in the silver miners’ stocks has been apocalyptic, fueled by the astounding COVID-19 stock panic. As terrified traders frantically dumped everything and ran for the hills, silver and its miners’ stocks crashed. That catastrophic anomaly has potentially created epic contrarian buying opportunities. The silver miners’ recently-reported Q4’19 results reveal whether their fundamentals support…
Aust stocks plunge, snapping gain streak
Australia’s share market has plunged again following three days of gains, showing that the bear market is far from over. The S&P/ASX200 benchmark index gained two per cent in early trade but then faded throughout the day to finish Friday down 270.9 points, or 5.3 points, to 4,824.4. The broader All Ordinaries index closed 261…
When US CARES, markets listen
The S&P500 rose 6.2%, with smaller gains in Europe and modest declines seen through most of Asia. Oil prices rose 19%, gold up 1%, and US 10Y Treasury yields fell 4bps to 0.83%. Given this all happened after 2 per cent of the US labor force filed for unemployment insurance last week, it has left…
Woodside to slash spending amid COVID-19
Woodside Petroleum will slash spending by 50 per cent and is deferring a final investment decision on a number of projects, including the $US11 billion ($A18.2bn) Scarborough gas project, amid the spread of COVID-19. The company on Friday said “decisive and swift action” was required in an uncertain global investment environment arising from the spread…
The Second Economic Support Package
The Second Economic Support Package Economic news The Federal Government has compiled a second, $66.1 billion package of measures “to cushion the economic impact of the coronavirus and help build a bridge to recovery.” The details of the consolidated package first and second packages is at: The economic packages to date total $189 billion or…
RBA to make rates announcement on Thursday
The Reserve Bank will make an interest rate policy announcement at 2:30 pm AEDT on Thursday, according to a post on its website. The Reserve Bank of Australia had already said that Governor Philip Lowe would give a speech and conference call at 4pm but the timing of the policy statement is new. Markets widely…
CommSec Daily Reprot Wednesday
Latest news Aussie shares are sliding to near intraday lows, with coronavirus fears continuing to keep equities under pressure and markets volatile. The ASX 200 is slipping by ~260pts or 4.9 per cent to 5,033. Remarkably, the local market has fallen by approximately 30 per cent in just 19 trading sessions and today’s tumble marks…
