Trump trade dead, but corporate earnings fragile
Trump trade dead, long live McDonald's
Jessica Sier writes on business, markets, news and real estate. Based in our Sydney newsroom, Jessica is also a multimedia producer.
Trump trade dead, long live McDonald's
A large slump in CBA held the sharemarket back, but the ASX still managed to end the first week of earnings season slightly higher.
Heavy selling in Rio Tinto and Suncorp after their profit releases weighed on the sharemarket on Thursday.
The creation of a second bitcoin asset this week did almost nothing to dilute the original price, instead it generated almost $US7.5 billion out of thin air.
Shares remain on a roller-coaster ride, keeping the ASX below 5800 points as losses in miners and banks weighed.
Iron ore's 7.2 per cent jump has traders excited but it's unlikely to signal a period of sustained strength.
The ASX pushed higher as the official start of reporting season was marked with some big hits and misses.
The ASX was pushed higher on Monday by resources but it ended the month at its worst July in six years.
An Aussie dollar flirting with US80¢ might be a headwind for gold producers, but their current low running costs are keeping investors interested.
A largely positive week was undercut by a surprise broad-based sell-off on Friday as investors position themselves ahead of local earnings season next week.
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