Fundies tip five stocks to own in a trade war
Speaking at the Morningstar Investment Conference in Sydney on Tuesday, the stockpickers said the sharemarket had staged a remarkable recovery since the US president unveiled his sweeping 'liberation day' tariffs on April 2 that sent the S&P/ASX 200 Index into a correction. The benchmark gauge has since rebounded more than 12 per cent from its low on April 7.
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Sydney Morning Herald
2 hours ago
- Sydney Morning Herald
‘He wanted the Nobel': Trump cold-calls Norwegian minister about peace prize
A Norwegian politician is at the centre of a media storm over US President Donald Trump after reports the American leader made a surprise phone call to discuss tariffs – and then asked about winning the Nobel Peace Prize. Norwegian Finance Minister Jens Stoltenberg, a former NATO secretary-general, has confirmed the call and said the two men talked about tariffs, but he would not comment on whether Trump also said he wanted to win the prize. The account of the phone call, first reported by Norwegian newspaper Dagens Næringsliv, has set off new speculation about Trump's efforts to win the prestigious award after several national leaders said he should gain the recognition. 'Out of the blue, while Finance Minister Jens Stoltenberg was walking down the street in Oslo, Donald Trump called,' the newspaper reported. 'He wanted the Nobel Prize – and to discuss tariffs.' Loading The prize, to be announced on October 10, is one of the world's most prestigious honours. It is decided in Oslo by the Norwegian Nobel Committee, an independent group of five members who are chosen by the Norwegian Parliament. Trump has stepped up his claims to the prize in the lead-up to his meeting with Russian President Vladimir Putin in Alaska on Friday (Saturday AEST) to discuss a ceasefire in Ukraine, amid concerns among European leaders about whether he can secure a good outcome. In a sign that he has heard those concerns, Trump reportedly told the European leaders in an online meeting on Wednesday that he would not make any concessions on territory without Ukraine being part of the decision.
The Age
2 hours ago
- The Age
‘He wanted the Nobel': Trump cold-calls Norwegian minister about peace prize
A Norwegian politician is at the centre of a media storm over US President Donald Trump after reports the American leader made a surprise phone call to discuss tariffs – and then asked about winning the Nobel Peace Prize. Norwegian Finance Minister Jens Stoltenberg, a former NATO secretary-general, has confirmed the call and said the two men talked about tariffs, but he would not comment on whether Trump also said he wanted to win the prize. The account of the phone call, first reported by Norwegian newspaper Dagens Næringsliv, has set off new speculation about Trump's efforts to win the prestigious award after several national leaders said he should gain the recognition. 'Out of the blue, while Finance Minister Jens Stoltenberg was walking down the street in Oslo, Donald Trump called,' the newspaper reported. 'He wanted the Nobel Prize – and to discuss tariffs.' Loading The prize, to be announced on October 10, is one of the world's most prestigious honours. It is decided in Oslo by the Norwegian Nobel Committee, an independent group of five members who are chosen by the Norwegian Parliament. Trump has stepped up his claims to the prize in the lead-up to his meeting with Russian President Vladimir Putin in Alaska on Friday (Saturday AEST) to discuss a ceasefire in Ukraine, amid concerns among European leaders about whether he can secure a good outcome. In a sign that he has heard those concerns, Trump reportedly told the European leaders in an online meeting on Wednesday that he would not make any concessions on territory without Ukraine being part of the decision.
Sydney Morning Herald
3 hours ago
- Sydney Morning Herald
ASX set to dip, Wall Street slides after inflation update
Most stocks are falling on Wall Street after a disappointing report said inflation was worse last month at the US wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies are helping to mask the losses. Three out of every four stocks within the S&P 500 fell, though the index edged down by just 0.1 per cent after setting an all-time high the day before. The Dow Jones was down 97 points, or 0.2 per cent, in mid-afternoon trade, while the Nasdaq composite fell 0.1 per cent from its record the day before. The Australian sharemarket is set to slip, with futures at 4.56am AEST pointing to a decline of 9 points, or 0.1 per cent, at the open. The ASX hit a new high as it added 0.5 per cent on Thursday. The inflation report said that prices at the US wholesale level jumped 3.3 per cent last month from a year earlier. That was well above the 2.5 per cent rate that economists had forecast, and it could hint at higher inflation ahead for US shoppers as it makes its way through the system. The data forced traders to second guess their widespread consensus that the Federal Reserve will deliver some help next month by cutting interest rates. Lower rates can boost investment prices and the economy by making it cheaper for US households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation. Loading 'This doesn't slam the door on a September rate cut,' but it may raise some doubt, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. Traders now see a 7.2 per cent chance that the Fed may hold rates steady at its next meeting in September, according to data from CME Group. A day earlier, they were betting on a 100 per cent certainty that the Fed would cut its main rate for the first time this year. Higher interest rates can hurt all kinds of companies by keeping the cost to borrow high. They can particularly hurt smaller companies, which often need to borrow to grow. The Russell 2000 index of smaller US stocks tumbled a market-leading 1.5 per cent.
