Latest
ASX 200 inches closer to record; Fortescue, BHP reset highs
The S&P/ASX 200 index rose 0.7 per cent to 7614.3 at the closing bell on Thursday. The benchmark is within 20 points of the record set in August 2021.
- Updated
- Joanne Tran
Fortescue resets high | Trump’s shadow hangs over world | The hottest NYE tickets
Read everything that’s happened in the news so far today.
- Updated
Year-end angst in money markets echoes 2018 crunch
US traders are on alert for additional pressure after repo rates surged late last month in the aftermath of a sharp rally in the Treasury market.
- Alexandra Harris
ASX to rise, S&P 500 struggles to reset record high
Australian shares are poised to open higher. The US equity benchmark advanced modestly. Iron ore extends rally, oil slips. Bitcoin tops $US43,000.
- Timothy Moore
Oil falls from one-month high at technical gauges flash weakness
Traders are focused on evening out positions before the new year, and low volumes are leaving prices susceptible to swings.
- Mia Gindis and Alex Longley
Euro rises to five-month higher, German yields plumb one-year lows
The euro has advanced 3.4 per cent this year, with much of the rally coming after signals from the Federal Reserve that it will pivot to rate cuts soon.
- Anya Andrianova and Alice Gledhill
Opinion & Analysis
Top investors name 11 long-term stock picks
Healthcare, digitisation and resources are the big themes that dominate the list of stock picks from top fund managers.
Columnist
Hedge fund parodies collide with reality in wild 2023
The strategies that worked best were as weird as the markets they tried to beat. Just ask Bradbury Capital whose cash strategy nearly pipped shares.
Senior reporter
A rare look inside the course for CEOs, and nine more opinion reads
Here are 10 opinion pieces from the week.
Contributor
US stocks go high when strategists go low
Many of the strategists who are taking victory laps today for their bullish 2023 calls also failed to foresee the big drawdown of 2022.
Contributor
Companies in the News
Updated: Dec 28, 2023 – 4.10pm. Data is 20 mins delayed.
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Meet the Fundie
BHP at $100, shorting banks, Qantas chaos: the best of Monday Fundie
From Regal to Ellerston Capital and Morningstar, the 48 fund managers profiled by the Financial Review were early, wrong and on the money in 2023.
- Jonathan Shapiro and Sarah Jones
Why this Pendal fundie says now is the sweet spot to buy bonds
Amy Xie Patrick has pulled money from stocks and high-grade credit, as history shows the best returns for bonds are made just after central banks stop raising rates.
- Joanne Tran
How Regal is making money in small caps when others are failing
James Sioud is among the youngest portfolio managers in Australia. He works alongside Phil King and Todd Guyot in a fund that is more than beating the market.
- Sarah Jones
Yesterday
Magnificent Seven loses allure with soft landing in focus
As the threat of recession fades, investors are poised to look beyond megacap tech stocks for growth.
- Carmen Reinicke
This Month
Iron ore’s rise above $US140 to deliver larger budget windfall
A surge in the iron ore price to its highest level in 1½ years, pushed the $A to a fresh five-month high and puts Treasurer Jim Chalmers’ 2023-24 federal budget on course for a bigger than expected surplus.
- Updated
- Joanne Tran
Iron ore rally drives ASX close to record high
The S&P/ASX 200 rose 0.8 per cent to 7561.2, within 80 points of its record high, buoyed by deal fever and gains in iron ore.
- Updated
- Joanne Tran and Timothy Moore
The best US stocks aren’t the Magnificent Seven, says Firetrail
Anthony Doyle says blue-chip tech stocks are starting to look overly expensive and shares why he recently bought into a Finnish forest products company. He also expects rates to fall in Q1.
- Joanne Tran
- Opinion
- Chanticleer
Top investors name 11 long-term stock picks
Healthcare, digitisation and resources are the big themes that dominate the list of stock picks from top fund managers.
- James Thomson
ASX rallies | Home buyers’ ‘brief window’ to snag deals | Bill Granger dies
Read everything that’s happened in the news so far today.
Yen rally looks fragile to Jefferies even as money managers pile in
The Japanese currency has advanced more than 6 per cent against the US dollar from its November lows, potentially foreshadowing a 2024 reversal.
- Anya Andrianova
China bond inflow surge may turn out to be a false dawn
Strategists sees headwinds for Chinese bonds, especially as the nation’s central bank is viewed as unlikely to slash already record low interest rates.
- Bloomberg News
- Opinion
- Investing
Hedge fund parodies collide with reality in wild 2023
The strategies that worked best were as weird as the markets they tried to beat. Just ask Bradbury Capital whose cash strategy nearly pipped shares.
- Jonathan Shapiro
ASX gets positive lead from Wall Street, commodities
The S&P 500 rises, edging closer to its record high, bolstered by a 3pc rebound in oil. Iron ore tops $US140 a tonne. Gold edges higher. ASX to reopen.
- Timothy Moore
Oil price rises after Red Sea ship attacks keep tensions in focus
The global energy benchmark climbed near 3 per cent in New York, topping $US81 a barrel, after recording its biggest weekly advance last week since October.
- Salma El Wardany
Adani Green founders to invest $1.6b using warrants
The fundraising plan shows Adani Group’s rising confidence after a damaging broadside from Hindenburg Research early in 2023 plunged it into crisis.
- P R Sanjai and Advait Palepu
Ousted Binance founder’s fortune grew by $37b in 2023
Changpeng Zhao may be heading to prison next year, but bitcoin’s stunning rally provides at least a momentary silver lining to 2023.
- Olga Kharif
Iron ore surges past $US140 to its highest price since June 2022
Optimism is building that China’s economic recovery and its steel-intensive property sector are finally gaining momentum.
- Liz Yee Xing Ng
This NYU student owns a $9m crypto mine. His secret is out
A legal dispute in a small Texan town has revealed how Chinese nationals can move money to the US without drawing the attention of authorities.
- Updated
- Michael Forsythe and Gabriel J.X. Dance
- Opinion
- IPO
A rare look inside the course for CEOs, and nine more opinion reads
Here are 10 opinion pieces from the week.
OpenAI Is in talks to raise new funding at $US100b valuation
If the funding round proceeds as planned, OpenAI would be the second-most-valuable startup in the US, behind only Elon Musk’s Space Exploration Technologies.
- Gillian Tan, Ed Ludlow and Shirin Ghaffary
US stocks edge higher on positive price data
Shares were ever so modestly higher ahead of a three-day Christmas break. A tumble in Nike checked the Dow. Fed gets more evidence inflation is cooling.
- Timothy Moore
- Opinion
- Wall Street
US stocks go high when strategists go low
Many of the strategists who are taking victory laps today for their bullish 2023 calls also failed to foresee the big drawdown of 2022.
- Jonathan Levin
ASX flat; Multiplex and Star settle QLD dispute
Shares subdued; Austal wins $1.3b US Navy contract; Core Lithium in strategic review; A2B, Millennium Services and Probiotec receive bids; Follow updates here.
- Updated
- Timothy Moore, Cecile Lefort and Sarah Jones
