Market News

Iron ore prices are expected to come under more pressure today after a surprise slump in China’s crude steel output in August. Data from the National Bureau of Statistics, released on Saturday, showed that crude steel output fell by 6.1% to 77.92 million tonnes in August, down from July’s 82.94 million tonnes. This marks the […]

US equity indexes closed higher on Friday as markets looked ahead to the Federal Reserve’s latest monetary policy decision, due this week. The Dow and the Nasdaq both rose 0.7%, reaching 41,393.8 and 17,684, respectively, while the S&P 500 gained 0.5%, closing at 5,626. For the week, the Nasdaq jumped nearly 6%, the S&P 500

There are things that the struggling casino group, Star Entertainment (ASX:SGR), can’t afford financially (having lost any moral claims), and one of those is losing its Sydney casino licence or facing a hefty fine. But that’s exactly what it was threatened with on Friday, as the NSW gambling regulator warned of cancelling its Sydney casino

Oil prices have dropped sharply from their year-long trading range as investors grow increasingly concerned about weakening demand from the world’s largest economies. Brent crude, which had been fluctuating between $73 and $92 since last October, fell to $68.68 on Tuesday—the lowest since December 2021. The decline follows a report showing that China’s oil imports

US stocks surged on Friday, with the S&P 500 and Nasdaq Composite securing their strongest week of 2024, buoyed by anticipation for an upcoming Federal Reserve rate cut. The S&P 500 climbed 0.54 per cent to close at 5,626.02, nearing its July all-time high. The tech-heavy Nasdaq Composite added 0.65 per cent, reaching 17,683.98. Both

The impending sale of Anglo American’s Australian coal portfolio is poised to be one of the most significant transactions of the year, offering a crucial barometer for industry sentiment on the future of steel production and its supporting commodities. The sale is expected to provide valuable insights into the sector’s outlook, particularly for metallurgical (met)

After the European Central Bank opted for a 0.25% rate cut last week, this week brings four major central bank interest rate decisions from the Fed, the Bank of England, the Bank of Japan, and the People’s Bank of China. Additionally, decisions are also due from smaller central banks in Brazil, Norway, Turkey, Taiwan, Indonesia,

Oil’s Hurricane Francine price blip won’t last past Monday, despite what energy market hopefuls might wish for. Francine took around 40% of Gulf of Mexico oil and gas facilities offline for a day or two, but with the storm gone, companies have begun restarting production. As a result, prices are expected to lose much of

Gold prices soared to new all-time highs on Friday as the US dollar weakened in the lead-up to this week’s anticipated rate cuts. At the same time, the Australian dollar price also rose sharply, exceeding $A3,800 an ounce. Comex’s most active December contract settled at $US2,606.20, a gain of $US19 or 0.73% for the day.

There are more signs of the Chinese economy’s growing stagnation, with another round of sluggish data for August. Retail sales, urban investment, and industrial production were all weaker than expected, according to Saturday’s release of the final data for the month from the country’s National Bureau of Statistics. While exports performed better than usual, imports