Market News

The Dow Jones Industrial Average fell for a fourth straight day as US lawmakers struggled to reach a deal on the country’s debt ceiling, heightening worries of a potential default. House Speaker Kevin McCarthy said in a late-morning press conference that negotiators remain at odds on spending caps, and blamed the Democrats for coming to […]

Shares in Brisbane-based youth-skewing retailer Universal Store (ASX:UNI) took a hammering on Wednesday with a late financial year trading update that left the market very underwhelmed. The shares were down 24% at the close at $3.15 but hit a low of $2.91 in trading after investors had mulled over the details of the update. Yesterday’s

Everybody’s travelling and making money, or so it seems. Qantas confirmed it on Tuesday with a forecast of a record profit for the year to June, and on Wednesday online travel services group Webjet added its big turnaround in the year to March 31. Webjet’s performance was probably more stunning than what we saw from

Eagers Automotive (ASX:APE), Australia’s largest car dealer group, reckons rising demand for electric vehicles – especially the Chinese BYD brand – will help it offset an expected softening in sales over the next two years. The company said in a trading update given to Wednesday’s annual meeting, that back orders for customers still waiting for

by Simon Webber – Lead Portfolio Manager, Schroders Big tech has enjoyed a resurgence this year. Seven large US companies (Apple, Microsoft, Alphabet, Amazon, Tesla, Netflix and Nvidia) have collectively returned 34% in the four months to 30 April 2023. Excluding these stocks, the remainder of the MSCI USA index has returned just 3%. The Big

At noon, the S&P/ASX 200 is 0.46 per cent lower at 7,226.50. The SPI futures are pointing to a fall of 28 points. The decline coincided with losses in Wall Street, where the S&P 500 fell by 1.1 per cent, the Nasdaq by 1.3 per cent, and the Dow Jones by 0.7 per cent. The

Leo Lithium (ASX:LLL) has announced that further drilling at their Goulamina Lithium Project has delivered thick, high grade mineralisation. MD Simon Hay commented, “With drilling continuing, we remain on track to update the Mineral Resource Estimate in late June and release a reserve upgrade in August.” Shares are trading 2.65 per cent higher at 77.5

Stocks fell Tuesday as ongoing debt ceiling discussions appeared to yield little progress. Some traders interpreted the lack of any major updates on negotiations as a sign that lawmakers, perhaps, are struggling to progress as hoped. Investors have been closely eyeing debt-limit negotiations in Washington, hoping for more certainty as the so-called June 1 X-date

Shares in struggling gold miner St Barbara (ASX:SBM) lost more than 3% in value yesterday afternoon after it said ‘no’ for a third time to a buyout proposal for its Leonora gold assets from the persistent Silver Lake Resources (ASX:SLR).  The struggle for ownership of the poorly performing Leonora gold assets of St Barbara has