Latest news with #ASX200Index
AU Financial Review
2 days ago
- Business
- AU Financial Review
ASX to slip, Tesla plunges 14pc as Musk-Trump feud heats up
Australian shares are set to track Wall Street's retreat ahead of the latest monthly jobs report that will fan speculation about the Federal Reserve's next round of interest rate cuts. ASX futures were pointing down 9 points, or 0.1 per cent, predicting the S&P/ASX 200 Index would extend the prior session's slight decline. Profit-taking hit US stocks in the final hours of trade ahead of Friday's all-important jobs report, with the S&P 500 and Nasdaq Indexes down 0.7 per cent in the final hour. Markets are expecting a fall in non-farm payrolls in May, to 126,000, after growth in March and April exceeded expectations. Unemployment is expected to remain steady at 4.2 per cent. Tesla also added to pressure after the stock tumbled almost 15 per cent, prompted by a heated feud between chief executive Elon Musk and Trump. Stocks had climbed earlier in the session after US President Donald Trump held the phone call with President Xi and said the two countries would resume formal trade negotiations. Market highlights ASX futures are pointing down 9 points or 0.1 per cent to 8544. All US prices are as of 3.43pm New York time. Top stories BHP considers return to nickel business with ultra-cheap mine project | The resources giant shut down local production of the commodity in the face of a surge in low-cost Indonesian production backed by Chinese investment last year. As Alex Waislitz prepares for a legal fight with his fiancee's sister, the Pratt family has thrown a spanner in the mix. | About 500,000 workers will be caught by Labor's new super tax if the $3 million threshold is not indexed. Only 64,000 will be hit if it is. Miners fight back in the Pilbara with cash and lawyers | Rio Tinto and BHP are pushing back against attempts to unionise the iron ore-rich region for the first time in 30 years.
AU Financial Review
28-05-2025
- Business
- AU Financial Review
Tax loss selling kicks off as dogs of the ASX come under pressure
As the end of the financial year approaches, there's a familiar culprit behind the selling in some of the sharemarket's biggest laggards: investors trying to lower their tax bill. At around this time every year, investors start dumping underperforming stocks to crystallise losses which can then be used to offset the capital gains made elsewhere. And with the benchmark S&P/ASX 200 Index up about 8 per cent for the fiscal year, there's an extra incentive to cash in.
AU Financial Review
20-05-2025
- Business
- AU Financial Review
Fundies tip five stocks to own in a trade war
Fund managers from Yarra Capital to GQG Partners say they have been busy buying up companies with resilient business models and those that were heavily sold off during an escalation in Donald Trump's 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.
AU Financial Review
18-05-2025
- Business
- AU Financial Review
ASX to slip, Moody's US credit downgrade in focus
The Australian sharemarket is set to snap its longest winning streak since August – and traders will be watching for any outsized market reaction to Moody's move to strip the US of its AAA credit rating. ASX futures are pointing down 7 points, or 0.1 per cent to 8360, predicting the S&P/ASX 200 Index will pause for breath after closing last week at a three-month-high. The ASX 200 is now just 2.5 per cent shy from its record high in February. US shares dropped in late hours trading on Friday, and bond yields climbed, after credit ratings agency Moody's downgraded US debt one notch to Aa1, citing huge government debt and higher interest costs. The downgrade came as congress made progress on a tax bill proposed by US President Donald Trump that includes permanent tax reductions and a proposal to increase the US debt ceiling by $US 4 trillion. In Australia, the main game for investors this week will be the outcome of the Reserve Bank of Australia's board meeting, where an interest rate cut is all but expected by traders and economists alike. Money markets are pricing in a 99 per cent chance of a quarter-point rate cut to 3.85 per cent, followed by two more by Christmas, though some argue the RBA should keep rates on hold. Economic data from China on Monday will provide Australian investors with a glimpse in to the impact of the US' former – and much more punitive – 145 per cent tariff rate on its imports from China. Industrial production is expected to have decelerated in April to 5.7 per cent, down from 7.7 per cent in March, while retail sales data is expected to show a small decline. In commodities, gold tumbled, nearing $US3200 an ounce, as Russia and Ukraine began their first direct talks in more than three years, and iron ore fell back below $US100 a tonne. Stocks to watch Helloworld has scooped up 5 per cent of rival Webjet in Friday's trading, lifting its stake to about 10 per cent, Street Talk reported. And investors who bought into a special fund holding Melbourne Airport marketed by Dexus have retained their own lawyers as they gear for a legal battle between the ASX-listed property group and its co-investors. Market highlights ASX futures are pointing down 7 points or 0.1 per cent to 8360. All US prices as of 5.20pm New York time on Sunday (Monday 7.20am AEST).
AU Financial Review
07-05-2025
- Business
- AU Financial Review
The ASX stocks that have ripped during Trump's trade war
The Australian sharemarket has staged a remarkable recovery since US Donald Trump unveiled his sweeping tariffs last month as global investors are increasingly drawn to the ASX's perceived safe haven status. The S&P/ASX 200 Index plunged into a correction in the days following Trump's so-called Liberation Day on April 2, marking a 10 per cent drop from its recent peak. But the benchmark gauge has rebound 11.3 per cent from its low on April 7.
