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- Markets Live
ASX slumps over 1pc as property sells off; WiseTech down
Shares extend decline; gold resets record high; WiseTech’s Engelhard to retire from board; Westgold plunges over 10 per cent after latest quarterly production update. Follow updates here.
- Updated
- Timothy Moore, Joanne Tran, Cecile Lefort, Joshua Peach, Alex Gluyas and Sarah Jones
ASX to fall as US data points to higher-for-longer rates
Australian shares are set to open lower, tracking losses on Wall St which sees fading prospects for a pivot to rate cuts. Oil rises. Gold resets record high.
- Updated
- Timothy Moore
The era of big mining dividend paydays is coming to an end – for now
Morgan Stanley’s analysts have told clients that BHP will be particularly affected amid an iron ore price slump. Lithium miners will similar cut their payouts.
- Alex Gluyas
Tesla shares drop after sales fall short of estimates
The electric car maker handed over 386,810 vehicles in the first three months of 2024 for its first year-over-year sales drop since the early days of the COVID-19 pandemic.
- Dana Hull
Trump’s media stock plunges as 2023 loss put at $89m
The share price of the company fell to its lowest level since Trump Media went public last week and shaved more than a fifth of its market value in a single day.
- Updated
- Drew Harwell
$A hit as strong US data dents rate cut hopes
The local currency is back below US65¢ after traders pushed back the likely timing of the first rate cut by the Federal Reserve and the Reserve Bank of Australia this year.
- Cecile Lefort
Opinion & Analysis
It’s a long and winding path that leads to a rate cut
The reality is there is still some way to go as the RBA balances the challenge of reducing inflation while keeping the economy ticking.
Former advisor Paul Keating
Now is the ‘sweet spot’ for making money in private debt
While corporate defaults are at their highest year-to-date default count since the height of the global financial crisis, fears for private credit are overblown.
Contributor
Lessons from a fund that has beaten the market for 50 years
Since 1973, Capital Group’s New Perspective Fund has ridden the shifting tides of world trade. With deglobalisation taking hold, will the strategy hold up?
Columnist
Ninety days to remember and what could go wrong from here
Despite a plethora of risks, the first quarter of 2024 has turned out to be better than expected across markets, economics and geopolitics. But don’t get comfortable.
Columnist
Companies in the News
Austal Limited
Commonwealth Bank
Woodside Energy Group
AGL Energy
Updated: Apr 3, 2024 – 12.49pm. Data is 20 mins delayed.
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Meet the Fundie
‘We still have an inflation problem’, says NAB’s Catril
Rodrigo Catril at National Australia Bank is confident the RBA will lower the cash rate this year, but the job market needs to weaken first.
- Cecile Lefort
This hedge fund is backing bets Citadel and Millennium won’t touch
Multi-strategy hedge funds have swept the globe hoovering up talent into their highly levered investing style, but this New York-based fund can go where they can’t.
- Joshua Peach
This hedge fund is betting big on La Nina’s return
Farrer Capital says looming weather changes could lift Australian cattle prices by up to 50 per cent, it also likes the look of South African maize.
- Cecile Lefort
Yesterday
Gold rally ‘has legs’, as price tipped to reset record
Gold has already jumped more than 9 per cent this year, with ANZ and JPMorgan projecting the precious metal to hit $US2300 an ounce by December.
- Updated
- Joanne Tran
ASX retreats from record high; gold miners rally, Mesoblast soars 70pc
Shares end in the red after resetting record high. Cettire and Orora sink. The Reserve Bank of Australia softens language in latest meeting. Iron ore rebounds after Monday’s rout.
- Updated
- Timothy Moore, Joshua Peach, Joanne Tran, Sarah Jones, Alex Gluyas and Cecile Lefort
Inflation set to ease, but it will be bumpy: survey
While higher prices are forecast to ease, economists warn that should inflation reignite, the RBA will stand pat on rate cuts at least for this year.
- Cecile Lefort
- Exclusive
- Credit crunch
This Australian executive is taking on a US private investment giant
As chairman of Cromwell Property Group, Paul Weightman saw plenty of corporate jousting. Now the Corinthia Global Management founder is staring down Barings.
- Primrose Riordan
Iron ore plunges to 10-month low, threatening ASX record high
Some of the ASX’s biggest miners will be in focus when trading reopens after the price of Australia’s major export slumped below $US100 a tonne over the Easter weekend.
- Updated
- Joshua Peach
RBA will struggle to cut rates this year: survey
The RBA is expected to be the last major central bank to start cutting interest rates and economists predict the cash rate will remain on hold at least until November.
- Cecile Lefort
‘We still have an inflation problem’, says NAB’s Catril
Rodrigo Catril at National Australia Bank is confident the RBA will lower the cash rate this year, but the job market needs to weaken first.
- Cecile Lefort
June Fed rate-cut odds dip below 50pc after strong ISM data
The ISM’s manufacturing gauge rose 2.5 points to 50.3 last month, snapping 16 straight months of shrinking activity and exceeding all Bloomberg survey estimates.
- Michael Mackenzie
This Month
It’s a long and winding path that leads to a rate cut
The reality is there is still some way to go as the RBA balances the challenge of reducing inflation while keeping the economy ticking.
- Stephen Miller
- Opinion
- Investing
Now is the ‘sweet spot’ for making money in private debt
While corporate defaults are at their highest year-to-date default count since the height of the global financial crisis, fears for private credit are overblown.
- Katrina King
CrowdStrike’s Australian boss snares $225m cybersecurity fortune
Mike Sentonas, a computer science graduate from Edith Cowan University, has risen to become one of the leading Australians in Silicon Valley.
- Tom Richardson
March
- Opinion
- Chanticleer
Lessons from a fund that has beaten the market for 50 years
Since 1973, Capital Group’s New Perspective Fund has ridden the shifting tides of world trade. With deglobalisation taking hold, will the strategy hold up?
- James Thomson
Fading analysts’ optimism a red flag: Edwards
For Societe Generale’s Albert Edwards, a key reading into the outlook for the S&P 500 is that Wall Street analysts are becoming less optimistic about earnings.
- Timothy Moore
S&P 500 resets record high as price data awaited
All three US benchmarks were little changed pending Friday’s release of a key Federal Reserve inflation metric. Gold resets record high.
- Updated
- Timothy Moore
ASX richly priced, valuations elevated, warns Perpetual strategist
Perpetual says it does not expect the sharemarket to perform particularly well this year, but there are other fund managers who think it has more to run.
- Joanne Tran and Tom Richardson
Why this fundie is bullish on India and its largest private bank
Stewart Investors’ Sujaya Desai says the market is too conservative about HDFC Bank and names another of her favourite stocks – all the way from Brazil.
- Joanne Tran
Market fears Japanese officials will intervene to stop yen slide
Traders expect authorities to protect the currency if it hits the benchmark ¥152 per US dollar. It has shed more than 7 per cent this year.
- Cecile Lefort
What you need to know about buying K-Pop stocks
Thanks to acts such as BTS and Blackpink, the industry is now worth about $7.7 billion and growing, pushing up the shares of agencies and minting billionaires.
- Claire Ballentine
ASX to rise, Dow paces gains in New York
The Dow rallied 478 points, bolstered by Merck and Intel. The S&P 500 closed at a record high and finished within 13 points of its intraday record.
- Updated
- Timothy Moore
ASX tops record 7900 points; miners, property climb, gold rises
Gold, lithium, iron ore, coal miners gain. Retail sales lift 0.3pc. Ramelius drops takeover bid. Beach Energy to cut 30pc of staff. S&P 500 hits all-time high. Follow here.
- Timothy Moore, Tom Richardson, Alex Gluyas, Joanne Tran, Joshua Peach and Cecile Lefort
