The Australian share market is slightly weaker at lunchtime in the East, despite positive offshore gains. Yesterday the Australian share market gained 0.5 per cent.
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US equities printed a record high yet again, but this time with not quite as much conviction as we've seen in recent sessions. Meanwhile, a shocking German CPI print kept the stimulus camp happy in Europe, especially after the ECB flagged inflation as one of its key concerns. Data out of the US was quite encouraging with the final manufacturing PMI print mildly ahead of consensus, while the ISM manufacturing PMI was relatively in-line with consensus. There was a bit of drama with the ISM prin...
In US economic data, the ISM manufacturing reading was initially released showing an unexpected dip from 54.9 to 53.2 in May. However according to multiple reports, ISM corrected itself by saying manufacturing activity actually improved to 55.4 in May. That helped ease concerns about the economy, and the Dow Jones industrial average quickly climbed back into positive territory on the altered result. US construction spending rose by 0.2% in April.
As Apple Inc.'s Worldwide Developer's Conference (WWDC) nears, many expect the company to fight back with software amid threats of growing competition shrinking its market share.
Local stocks managed to rise for the first time in three sessions. Promising Chinese data on Sunday and a better end to the week across U.S. markets acted as catalysts. The All Ordinaries Index (XAO) rose by just shy of 0.5 per cent, closing near the highest level of the day.
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Despite a weaker start the Australian sharemarket is creeping higher at lunch. Better than expected Chinese data out yesterday together with a firmer end to the week in the U.S. are helping local stocks. The market is being held back most by the miners, with continued weakness in the iron ore price pushing the sector lower.
Health Canada is currently groping with a pile of applications for licences to grow medical marijuana in the country. Even junior mining firms have joined the fray.
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Google, in compliance to a ruling by the European Union Court of Justice (ECJ) that allows the Europeans' right to be forgotten on the Internet, has created a Web site that will specifically handle such removal requests. On the very first day it was launched, the world's No. 1 Internet search company received a whopping 12,000 removal requests.
US equities extended their gains on Friday, with the S&P printing yet another record high of 1924. Once again the S&P closed at the highs of the session and this is a positive sign heading into the new week. There are plenty of key events on the economic calendar this week that could really set up equities for solid gains. Firstly, we've already seen positive signs from China's manufacturing PMI reading. We also have the ECB policy decision, which is widely tipped to deliver stimulus. Whil...
In US economic data, personal income rose by 0.3% in April, in line with forecasts. But consumption fell by 0.1%, short of forecasts tipping a 0.2% increase. The Chicago purchasing managers index rose from 63.0 to 65.5 in May, above the median forecast of 61.0. Consumer sentiment rose from 81.8 to 81.9 in May, short of the 82.5 median forecast.
For the second time, Fairfax Media closed its board room door to majority shareholder and mining billionaire Gina Rinehart. The media company opted to replace retiring director Sam Morgan with advertising executive and TV personality Todd Sampson.
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The Australian share market was sold off today, meaning that the gains for the month were virtually wiped out. The All Ordinaries Index (XAO) closed lower by 25.4 points or 0.5 per cent today to 5473.8.
The U.S.' Centers for Disease Control has reneged on its earlier observations that the Illinois man believed to have been the country's third MERS-CoV case contracted the disease from human-to-human transmission from the Indiana man. The latter is the U.S.' second confirmed case.
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Canada's Athabasca Glacier, the most visited glacier in North America, is losing five metres (16 feet) of ice per year that scientists forecast the immediate next generation of Canadians and tourists won't be able to see and enjoy them anymore.
The Cupertino-based tech giant Apple confirmed that it is buying 'Beats' for a whopping US$3 billion. For those unfamiliar with 'Beats', it is an American audio products and equipment producing company, founded by the famous rapper Andre 'Dr. Dre' Young.
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The Australian sharemarket is losing ground for the second straight day but for just the second time in a fortnight at lunch. Continued weakness in the iron ore price (Australia's biggest export) is placing the miners under pressure. U.S. markets managed to rise overnight despite recording its first quarterly economic contraction in three years overnight. The All Ordinaries Index (XAO) is down 0.2 per cent.
A middle-aged US couple from California is now several millions richer after deciding to auction off the 1,427 rare gold coins they unearthed in their backyard discovered while having a leisure stroll with their dog.
The S&P rallied to yet another record high, despite US Q1 GDP being revised lower to a 1% contraction. Not only did the S&P print a record high, it also closed at a record high of 1,920. This is a very encouraging sign heading into the weekend as it shows the momentum finished firmly to the upside. Unemployment claims for the week dropped sharply to 300,000, which was much better than the expected 321,000. This essentially took the four-week average down to 311,000 and sets next week's non-fa...
In US economic data, March quarter GDP was revised lower from +0.1% to a -1% annual contraction. It was expected to decline by -0.5%. The result was affected by the adverse weather conditions earlier in the year. US pending home sales increased by 0.9% to 97.8 in April, mildly below expectations of 1% increase. Sales are down 9.2% on a year ago. US jobless claims fell by 27,000 to 300,000 last week.
