ASX down, but unemployment at 4-month low
Updated | The ASX fell 0.4 per cent on Thursday with unemployment figures in focus on the local market as the US kept its attention on the debt ceiling and government shutdown.
Hockey upbeat on US as Fidelity exits Treasuries
Treasurer Joe Hockey is upbeat about a resolution to the deadlock that has shut down the US, urging Australians not to panic even as Fidelity Investments – one of the world’s largest buyers of US government debt – liquidated its Treasury securities.
US impasse keeps $A in tight range
The Australian dollar is slightly higher at the start of local trading after the release of US Federal Reserve meeting minutes and news of Janet Yellen's nomination as the next Fed chief.
Emerging markets exposure not all it’s cracked up to be
Picking developed market companies with emerging markets exposure had been a popular trade idea when growth abroad looked the more vibrant option. However, that strategy hasn’t stacked up so well this year.
Fed’s latest meeting minutes show deepening divide
An account of the Federal Reserve’s September meeting suggested that divisions among Fed officials, which are undermining the Fed’s clarity and thus its power, were not on the verge of being resolved.
Dow, S&P 500 end modestly higher
Updated | The Dow and S&P 500 rose as Republicans and Democrats in Congress showed early signs of a possible break in the impasse that has partially shut the US government for nine days.
European shares poised to set new highs, poll finds
European shares are poised to add 4 per cent to this year's strong rally, with Germany's top index on course for another record high as the economic outlook improves, a Reuters poll showed.
Arab Spring to cost Middle East $800bn: HSBC estimates
The Arab Spring uprisings will end up costing Middle Eastern economies about $US800 billion in lost output by the end of next year.
Small stocks to get their big break
After more than five years of confinement, the small companies market is looking like making an upward break, says Australian boutique funds management firm Eley Griffiths Group.
Banks rediscover appetite for riskier home loans
Banks have rediscovered their appetite for risky lending, with nearly three-quarters of home loan products on offer now requiring just 5 per cent deposits or less.
Yellen puts economic theory into practice
When the economists Janet Yellen and George Akerlof hired a baby sitter for their son in the early 1980s, they decided to pay more than the going wage and hit upon an economic theory that guides Yellen’s thinking to this day.
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
0.9445 | 0.6986 | 92.13 | 0.5921 |
| USD | 1.0586 |  |
0.7396 | 97.51 | 0.6268 |
| EUR | 1.4311 | 1.3518 |  |
131.85 | 0.8475 |
| JPY | 0.0109 | 0.0103 | 0.0076 |  |
0.0064 |
| GBP | 1.6884 | 1.5949 | 1.1797 | 155.57 |  |
World Indices
| S&P;/ASX 200 | 5,127.7 | - 25.3 | - 0.49% |
| ALL ORDINARIES | 5,127.8 | - 23.8 | - 0.46% |
| S&P;/ASX 100 | 4,253.3 | - 21.2 | - 0.50% |
| SMALL ORDS | 2,147.7 | - 7.0 | - 0.32% |
| Dow Jones | 14,802.98 | + 26.45 | + 0.18% |
| S&P 500 INDEX | 1,656.40 | + 0.95 | + 0.06% |
| NASDAQ COMPOSITE | 3,677.78 | - 17.06 | - 0.46% |
| Wilshire 5000 | 17,668.15 | - 11.01 | - 0.06% |
| FTSE 100 | 6,337.91 | - 27.92 | - 0.44% |
| CAC 40 INDEX | 4,127.05 | - 6.48 | - 0.16% |
| SMI PR | 7,755.26 | - 72.98 | - 0.93% |
| XETRA DAX PF | 8,516.69 | - 39.20 | - 0.46% |
| HANG SENG INDEX | 23,033.97 | 0.00 | 0.00% |
| - | % |
| NIKKEI 225 INDEX | 14,090.26 | + 52.42 | + 0.37% |
| SSE COMPOSITE/d | 2,211.77 | 0.00 | 0.00% |
New jobs will be top priority in Yellen’s Fed
Janet Yellen’s first public words after being nominated as the next US Federal Reserve chairman suggest she may finally be able to connect the wonkish central bank with the American public.
A case for Wall Street to panic
Comment | By staying cool, the markets are making a crisis more likely.
Possible US debt payment delay spooks investors
Cracks are beginning to appear in the massive US money market as investors begin to fret about the previously inconceivable possibility of a US debt default.
Tricky timing for new Fed chief Janet Yellen
Janet Yellen’s pending rise to the most powerful econocrat job in the world comes at a time when the US Federal Reserve finds itself in uncharted and potentially risky territory.
Troublemakers need to face how they put Asia at risk
Asia’s summits have given Tony Abbott a valuable insider’s view of how the region is trying to deal with tensions and challenges.
Investors reassured as dove lands on Fed chair
Any investor worried about when the US Federal Reserve would start its tapering program will cheer the news that Janet Yellen is poised to become the most-powerful central banker in the world.
Finding light in emerging markets’ gloom
After two difficult years, emerging-market stock funds posted solid gains in the third quarter, raising hope that this once-high-flying asset class may be ready to rebound. Yet many strategists and money managers caution investors not to get too excited.
Price of iron ore key to value of Rio Tinto stock
Rio Tinto is set to cement its dominance in the iron ore market after reaching a new production milestone and as it considers a further expansion to 360 million tonnes a year, but analysts are struggling to agree on the future price of the commodity.
Investors calm as US debt ceiling deadline nears
Australian shares are set to trade 0.6 per cent higher when the S&P/ASX 200 reopens on Monday after Wall Street closed higher on Friday, signalling that investors are hopeful the shutdown can be resolved in the coming week.
Exporters feel the pain of US budget squabble
Talk about unintended consequences. Australian exporters were just starting to relish the prospect of a lower Australian dollar when the budget squabble in America pushed it up.
Taking stock
Fletcher Building outlook divides market opinion
The market remains divided over the outlook for building materials company, Fletcher Building, as the New Zealand housing market continues to ramp up but signs from the Australian market point to a drawn-out recovery.
Mixed views as BigAir shares climb
Analysts have delivered mixed views on BigAir Group as the wireless broadband provider has seen its share price climb this year.
Equity Markets
Aristocrat Leisure (ALL)
Credit Suisse reiterated its “underperform” rating for Aristocrat Leisure (ALL) because its earnings before interest, tax, depreciation and amortisation multiple had broken away from its peers and was now at a significant premium.
Emerging markets exposure not all it’s cracked up to be
Picking developed market companies with emerging markets exposure had been a popular trade idea when growth abroad looked the more vibrant option. However, that strategy hasn’t stacked up so well this year.
Debt Markets
White House meetings gives Wall Street slight hope
Proposed meetings between Democrats and Republicans gave investors a sliver of hope there might be a resolution to the US budget stand-off, adding to some relief that Janet Yellen has officially been nominated as heir to the chair at the Fed.
Hockey upbeat on US as Fidelity exits Treasuries
Treasurer Joe Hockey is upbeat about a resolution to the deadlock that has shut down the US, urging Australians not to panic even as Fidelity Investments – one of the world’s largest buyers of US government debt – liquidated its Treasury securities.
Currency Markets
Emerging markets exposure not all it’s cracked up to be
Picking developed market companies with emerging markets exposure had been a popular trade idea when growth abroad looked the more vibrant option. However, that strategy hasn’t stacked up so well this year.
White House meetings gives Wall Street slight hope
Proposed meetings between Democrats and Republicans gave investors a sliver of hope there might be a resolution to the US budget stand-off, adding to some relief that Janet Yellen has officially been nominated as heir to the chair at the Fed.
