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Local shares are set to open higher. BHP and Rio rallied in New York, taking direction from iron ore.

ASX to rally, Santos has two potential bidders: report says

ASX futures add 0.9pc. Nvidia, Tesla pace S&P 500 and Nasdaq to record closing highs. BHP, Rio rally in New York. Gold, oil climb. Follow here.

  • 28 mins ago
  • Timothy Moore, Tom Richardson, Alex Gluyas, Joanne Tran and Joshua Peach
Wall Street.

ASX to surge, Santos attracts two potential suitors

Australian shares are set to rise 0.9pc. Nvidia, Tesla pace S&P 500 and Nasdaq to record closing highs. BHP, Rio rally in New York. Iron ore gains 3.1pc.

  • 42 mins ago
  • Timothy Moore

JPMorgan’s Kolanovic to exit amid string of poor stock calls

The Wall Street firm’s chief global market strategist and co-head of global research, is leaving the bank, according to an internal memo obtained by Bloomberg.

  • Alexandra Semenova

Three ASX stocks to ride out the retail rebound

As retail sales data tops market expectations, Morningstar says some beaten-up retailer stocks may be ripe for a recovery.

  • Joshua Peach

Investors dodge the ASX as a rate rise looms

Australia’s sharemarket is falling further behind its global peers as the risk of a rate rise threatens earnings and performance.

  • Alex Gluyas

Biden’s debate confession; Retail sales rise; Crucial super trick

Read everything that’s happened in the news so far today.

Opinion & Analysis

Ackman’s huge new fund offers zero fees, with a catch

The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.

Tom Richardson

Journalist

Tom Richardson

Meme stock kingpin’s latest play has hit a brick wall

The man behind the GameStop mania of 2021 has a new $US250 million bet: pet food retailer Chewy, but it isn’t going to plan.

Nick Bonyhady

Technology writer

Nick Bonyhady

Why you should vote at the ballot box and not with your portfolio

Election uncertainty increases volatility, but investors should be cautious about over or underestimating the impact of political change.

Andrew McAuley

Managing Director at UBS Australia

Andrew McAuley

UniSuper’s John Pearce has a warning for this financial year

Super funds and portfolio managers have ruled off on a year that was powered by super stocks. As another begins, they’re looking for the obvious trades.

Jonathan Shapiro

Senior reporter

Jonathan Shapiro

Companies in the News

ANZ Bank

anz$28.150
 -0.39%

Liontown Resources

ltr$0.910
 -4.71%

Suncorp

sun$16.680
 -2.34%

AGL Energy

agl$10.750
 0.09%

Commonwealth Bank

cba$125.380
 -0.22%

Updated: Jul 3, 2024 – 4.40pm. Data is 20 mins delayed.

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View stories and data from an ASX listed company

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Meet the Fundie

Brian Kersmanc pictured at GQG’s headquarters in Fort Lauderdale, Florida last week.

GQG slashes tech exposure, here’s where it’s buying next

Brian Kersmanc was the first analyst that star stockpicker Rajiv Jain hired for his new firm. He’s now co-managing all of GQG’s strategies which are pumping out near-40 per cent returns.

  • Alex Gluyas
Geometrica’s James Bradley was only 23 years old when he co-founded the hedge fund.

Why hedge fund Geometrica only wants to make ‘easy money’

Fund managers James Bradley and Gary Hui go to painstaking lengths before they buy a stock like Nvidia or bet against one like The a2 Milk Company.

  • Joanne Tran
Kilter Rural’s Euan Friday says water prices are going to rocket this year.

Riding the wave: this Regal-backed fund is betting big on water

Kilter Rural’s Euan Friday predicts water prices will rocket 300 per cent this year, after huge government intervention and the weather dries up.

  • Cecile Lefort

Yesterday

Bill Ackman says the market has lost faith in the Federal Reserve’s ability to control inflation.

Ackman’s huge new fund offers zero fees, with a catch

The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.

  • Tom Richardson
Local shares are set to open higher, with retail sales data pending.

ASX rises as miners rally; Liontown drops 5pc

Shares advance at the closing bell; retail sales increased 0.6 per cent; Woodside trumps Santos in RBC’s global energy picks; Powell bolsters case for rate cuts. Follow updates here.

  • Timothy Moore, Joanne Tran, Joshua Peach, Alex Gluyas and Sarah Jones
Wall Street.

ASX to rise, S&P 500 closes above 5500 for first time

Australian shares are set to edge higher. Tesla surges 10pc, Apple also extended its rally. The Fed boss said disinflation is intact in the US.

  • Updated
  • Timothy Moore
Economists are now less unified in their predictions about inflation than they were in last year’s survey.

Migration cut no ‘silver bullet’ to Australia’s inflation problem

While economists said a tightening in immigration rules should relieve rent prices and take pressure off the labour market, it may not be enough to curb inflation.

  • Joanne Tran
Deliveries.

Tesla surges as quarterly deliveries fall less than expected

Shares in the EV maker leapt 10.2 per cent after it reported that it delivered 443,956 vehicles in the second quarter.

  • Kara Carlson and Dana Hull
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This Month

Keith Gill is a GameStop investor known on social media forums as Roaring Kitty. His trading has caused a rally in GameStop shares.

Meme stock kingpin’s latest play has hit a brick wall

The man behind the GameStop mania of 2021 has a new $US250 million bet: pet food retailer Chewy, but it isn’t going to plan.

  • Nick Bonyhady
Pilbara Minerals in Western Australia is the most-shorted stock on the ASX.

More pain tipped for lithium stocks as rout takes hold

Brokers are warning that the nose dive in lithium prices is far from over, spelling more trouble for the ASX’s worst-performing mining companies.

  • Alex Gluyas
xx

Trump’s ‘dangerous precedent’; ANZ lashed for fees; Bank names new CEO

Read everything that’s happened in the news so far today.

West African Resources in $120m cash call; Euroz Hartleys on ticket

The 87.6 million new shares were offered to investors at $1.37 apiece.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
The ASX 200 is set to open lower.

ASX slips as rate worries weigh; Liontown, Woodside rally

Australian shares open modestly lower, led by banks and health stocks. Nasdaq leads US benchmarks higher. Liontown halts shares. Follow updates here.

  • Updated
  • Timothy Moore, Joshua Peach, Alex Gluyas, Sarah Jones and Joanne Tran
Wall Street.

ASX to slip; US megacap techs rally to start quarter

Australian shares are set to open lower. On Wall Street, Apple, Microsoft and Tesla paced the advance. US bond yields spiked higher. Iron ore, oil were higher.

  • Updated
  • Timothy Moore
French President Emmanuel Macron.

European stocks rise after first round of French vote

France’s blue-chip CAC 40 index jumped 1.1 per cent to lead gains among regional markets. The European banking index had its best day in more than a year.

  • Sruthi Shankar and Jesus Calero
Trump.

Wall Street maps out what a Trump victory would mean for bonds

Strategists are urging clients to position for sticky inflation and higher long-term bond yields.

  • Carter Johnson and Michael Mackenzie
Supporters of France’s Marine Le Pen: Markets have been roiled by the resurgence of the far right.

Volatility is only certainty for traders parsing French elections

Traders are preparing for another volatile week after Marine Le Pen’s far-right party won the first round of France’s legislative elections.

  • Julien Ponthus, Allegra Catelli and Alice Gledhill
From lithium to Healius, investors are backing some of the ASX’s worst-performing stocks.

Investors hunt for diamonds among ASX dogs

With the new financial year kicking off, funds are busy hunting through the sharemarket’s bargain bin for oversold names, betting on a rebound.

  • Joshua Peach
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Nvidia founder Jensen Huang: Analysts have set a high bar for US corporate profits which is expected to be largely driven by big tech.

Shares to rally as profits grow at fastest clip in three years

Analysts have set the bar high for the second-quarter reporting season on Wall Street, with US companies tipped to post the fastest quarterly earnings growth since 2021.

  • Alex Gluyas
Donald Trump’s economic policy preferences are surely dangerous in current circumstances.

Why you should vote at the ballot box and not with your portfolio

Election uncertainty increases volatility, but investors should be cautious about over or underestimating the impact of political change.

  • Andrew McAuley
xx

Foreign students hit; Citi’s weightlifting fighter; $4.8m property tip

Read everything that’s happened in the news so far today.

ASX falls; Coronado, Whitehaven jump; WiseTech drops

Shares dip; coal stocks jump; Euro gains as Le Pen’s party set for smaller victory than feared; Lendlease rallies after selling US military housing business for $480 million. Follow updates here.

  • Timothy Moore, Joanne Tran, Joshua Peach, Alex Gluyas and Sarah Jones

Inflation has no chance of hitting Chalmers’ forecasts: survey

Higher-than-expected inflation will take at least 12 months to fall anywhere near the Reserve Bank’s target, casting doubt on Treasurer Jim Chalmers’ more optimistic forecast.

  • Joanne Tran

Original URL: https://www.afr.com/markets