Investors bet on positive data, Yellen
Before the Bell | Undeterred by disappointing US payrolls data, investors seem determined to seek out silver linings in economic reports as new Fed chair Janet Yellen gives testimony to US lawmakers ■ $A at US89.52¢ ■ SPI up 37 points.
$A tipped to hit US91¢ on RBA easing bias
Westpac has tipped the Australian dollar to push back above US90¢ over the next three months, dashing the Reserve Bank of Australia’s hopes of much lower levels.
ASX expected to open higher
The local sharemarket looks set to open higher following gains on Wall Street despite disappointing US jobs data as the Commonwealth Bank prepares to report earnings this week.
Iron ore price drop to hit big miners
Iron ore prices have fallen to seven month lows and are likely to weigh on the share prices of Australia’s biggest miners just as they prepare to report their profit results.
US recovery optimism remains despite weak jobs data
The American economy appears to have hit some potholes over the past two months though most economists and investors remain comfortable that the long-awaited recovery is on track.
Buying Chinese stock not as crazy as it seems
Nader Naeimi has a test to tell him when an investment idea has the highest chance of being right.
Yellen faces jobless rate pressures
John Kehoe | A recent US hiring slowdown further complicates the landscape for Federal Reserve chair Janet Yellen.
US debt ceiling panic starts up again
US Treasury Secretary Jacob Lew has urged Congress to raise the debt ceiling as soon as possible, saying United States borrowing authority may not last past February 27.
Deriving income amid growth spurt
Where competition has touched the Australian Securities Exchange, there have been dramatic results. When its first international rival, Chi-X, started trading in late 2011, ASX revenue from cash equities trading fell by a third as it cut fees.
Cypress Gardens hopes float will raise $15.2m
Cypress Gardens Development Corporation aims to raise $15.2 million through a stock exchange listing to clear its debts and continue searching for a buyer or joint-venture partner to develop a new retirement village on Queensland’s Gold Coast.
It’s not rocket science – UBS’s Lawcock tips a tough year for resources
If you’ve lost so much money chasing mining penny dreadfuls that you’ve decided the only person you’ll listen to is an expert – like, say, a rocket scientist – then meet Dr Glyn Lawcock.
Data shocks are a big barrier to sustained dollar rally
The dilemma for investors at the moment is arguably identifying what is driving the US dollar. Is it a strengthening economy, or has risk aversion from emerging market turbulence underpinned recent gains for the reserve currency?
World Indices
| S&P;/ASX 200 | 5,166.5 | + 35.1 | + 0.68% |
| ALL ORDINARIES | 5,184.5 | + 37.1 | + 0.72% |
| S&P;/ASX 100 | 4,289.0 | + 26.6 | + 0.62% |
| SMALL ORDS | 2,142.0 | + 35.6 | + 1.69% |
| Dow Jones | 15,794.08 | + 165.55 | + 1.06% |
| S&P 500 INDEX | 1,797.02 | + 23.59 | + 1.33% |
| NASDAQ COMPOSITE | 4,125.86 | + 68.74 | + 1.69% |
| Wilshire 5000 | 19,203.91 | + 246.83 | + 1.30% |
| FTSE 100 | 6,571.68 | + 13.40 | + 0.20% |
| CAC 40 INDEX | 4,228.18 | + 40.08 | + 0.96% |
| SMI PR | 8,318.60 | + 100.16 | + 1.22% |
| XETRA DAX PF | 9,301.92 | + 45.34 | + 0.49% |
| HANG SENG INDEX | 21,636.85 | 0.00 | 0.00% |
| - | % |
| NIKKEI 225 INDEX | 14,462.41 | 0.00 | 0.00% |
| SSE COMPOSITE/d | 2,044.50 | + 11.41 | + 0.56% |
Earnings, RBA this week
Earnings results, central banks and economic data will shape markets this week, particularly with US job data on Friday.
Move out or up: city property supply solutions
David Bassanese | It’s worth remembering exactly why local property prices appear relatively high by global standards.
Income inequality a red hot issue again
Income inequality is again on the agendas of politicians and economists from developed and developing economies.
US January payrolls miss could drill markets
A big miss in the employment report due out Friday in the US could be the trigger for a violent sell-off.
Investment banks cut costs – except for CEO pay
Champagne corks may have been popping in equity trading rooms around the world at the end of last year, but the mood among the world’s investment banking fraternity was decidedly sober.
Buying Chinese stock not as crazy as it seems
Nader Naeimi has a test to tell him when an investment idea has the highest chance of being right.
Yellen faces jobless rate pressures
John Kehoe | A recent US hiring slowdown further complicates the landscape for Federal Reserve chair Janet Yellen.
Taking stock
National Storage REIT gains in fragmented market
The $277 million National Storage REIT has been going from strength to strength since it listed on the stock exchange just before Christmas last year.
BlueScope buoyed by dollar, housing
The fall in the Australian dollar and resurgent residential housing construction are fuelling expectations of an earnings rebound for steelmaker BlueScope Steel.
Equity Markets
Arrium (ARI)
Deutsche Bank rates Arrium a “hold” as it thinks Arrium is trading at fair value currently.
Bluescope (BSL), Sims Metal Management (SGM)
Deutsche Bank says since the August results, it believes there is some reason for optimism in the steel sector.
Debt Markets
IPOs likely to boost Macquarie but cautious view may prevail
Investors and analysts are hedging their bets on whether Macquarie Group provides more bullish earnings guidance on Tuesday, as the company targets a return to $1 billion-plus profits in 2014.
Stock funds worldwide post record $US28.3bn outflow
Fund investors worldwide pulled a record $US28.3 billion out of stock funds in the week ended Wednesday, data from a Bank of America Merrill Lynch Global Research report showed.
Currency Markets
$A tipped to hit US91¢ on RBA easing bias
Westpac has tipped the Australian dollar to push back above US90¢ over the next three months, dashing the Reserve Bank of Australia’s hopes of much lower levels.
IPOs likely to boost Macquarie but cautious view may prevail
Investors and analysts are hedging their bets on whether Macquarie Group provides more bullish earnings guidance on Tuesday, as the company targets a return to $1 billion-plus profits in 2014.
